FedEx expands life sciences center in South Korea amid rising regional demand

Home
»
Stories
»
2024
»
November

GLOBAL INDUSTRY NEWS

Global Industry News

FedEx expands life sciences center in South Korea amid rising regional demand

Policy

Raj Subramaniam President, Chief Executive Officer, and Director FedEx Corporation | FedEx

By Sky Industry News

Nov 15, 2024

FedEx has expanded its Life Sciences Center in Gimpo, South Korea, enhancing its service capabilities for the healthcare industry across the Asia-Pacific region. This expansion is part of FedEx's response to the growing demand for a robust logistics network with advanced features to support the rapidly expanding healthcare sector in the region.

The South Korean facility now covers 2,288 square meters, nearly three times its previous size. It includes five temperature-controlled areas ranging from -150°C to +25°C, monitored around the clock to meet pharmaceutical cold chain transportation requirements. The center is certified under Korea Good Supply Practice (KGSP) standards and complies with quality and regulatory requirements specific to the healthcare industry. It also offers facilities for both domestic and international transportation needs.

With this expansion, FedEx aims to enhance its expertise in life sciences logistics, ensuring seamless and reliable transport of healthcare-related cargo such as investigational medicinal products (IMP), biological samples, and biopharmaceuticals. This allows FedEx customers involved in pharmaceuticals and clinical trials to focus on patient care.

Get the Newsletter

Sign-up to receive weekly round up of news from Sky Industry News

By submitting, you agree to our Privacy Policy and Terms of Service. By providing your phone number you are opting in and consenting to receive recurring SMS/MMS messages, including automated texts, to that number from our short code. Msg & data rates may apply. Reply HELP for help, STOP to end. SMS opt-in will not be sold, rented, or shared.

The pharmaceutical market in the Asia-Pacific region is projected to reach $290 billion by 2028. The region conducts about 50% of global clinical trials, highlighting its increasing importance in pharmaceutical research and development worldwide. Healthcare and pharmaceutical customers require precise temperature management services to maintain product efficacy. FedEx provides specialized solutions based on decades of experience in healthcare and clinical trial logistics. Its international transportation network connects Life Sciences Centers located in South Korea, Singapore, Japan (Tokyo), India (Mumbai), the United States (Memphis), and the Netherlands (Veldhoven). Additionally, FedEx maintains an extensive healthcare infrastructure with over 130 cold chain facilities globally.

Kawal Preet, President of FedEx Asia Pacific Region, stated: "The healthcare sector in Asia Pacific is evolving at an unprecedented pace driven by demographic shifts, infrastructure investments, and rapid technological advancements. FedEx leverages its longstanding expertise in healthcare along with a vast global network and unique solutions to support this growth. Through strategic investments in state-of-the-art facilities and AI-enabled smart logistics, we are reshaping healthcare supply chains and paving the way for future life sciences research and business innovation across the region."

One of FedEx's solutions for healthcare transport is FedEx Clinical Care. This comprehensive solution addresses time- and temperature-sensitive healthcare cargo using specialized features like temperature-controlled packaging materials, high-priority handling with customs clearance assistance, real-time tracking via sensors for continuous monitoring and intervention, ensuring delivery within 24-48 hours.

In recognition of its contributions to clinical supply chains in South Korea, FedEx received the "Innovation in Clinical Supply Chain Logistics" award at the Korea Biopharma Excellence Awards 2024. In August, it introduced FedEx Surround®, an innovative monitoring solution that enhances management visibility for critical shipments including healthcare cargo.