SK bioscience

SK bioscience is a publicly traded subsidiary listed on the Korea Exchange, controlled by SK Inc., the holding company of SK Group. SK Group is Korea's second-largest chaebol, with interests ranging from energy and semiconductors (SK Hynix) to telecommunications and biotechnology. The bioscience unit was carved out from SK Chemicals in 2018 to consolidate vaccine assets under a dedicated entity.

It operates as both. The company develops its own vaccine candidates — including Korea's first domestically approved COVID-19 vaccine, SKYCovione — while also running a substantial CDMO business through its L HOUSE facility in Andong. Acquired subsidiary IDT Biologika in Germany adds biosafety-level manufacturing capacity in Europe, serving global pharma clients.

Funding comes from a mix of public-market equity (the firm is listed on the KOSPI), retained earnings from commercial vaccine and CDMO operations, and government-linked financing instruments such as pandemic-response grants and the National Growth Fund. SK Inc.'s controlling stake provides a stable capital base, but major expansion projects have historically relied on government co-investment.

IDT Biologika, a German CDMO acquired by SK bioscience in 2024, provides access to European manufacturing capacity with biosafety-level ratings suitable for advanced vaccine and biologics production. It marks the company's first major manufacturing footprint outside South Korea, aligning with the stated strategy to build a global, multi-site production network.