GC MS, previously known as Green Cross MS, announced Wednesday that construction has officially begun for its new hemodialysis solution factory in Chungbuk Innovation City, North Chungcheong Province.

The plant has a floor space of 22,000 square meters and can produce 4.1 million hemodialysis fluids per year, which is more than three times the production scale of the existing GC MS Yongin factory in Gyeonggi Province.

“The company expects that the profitability of its hemodialysis solution business, which is specialized in manufacturing, will further improve,” a company official said.

GC MS signed a long-term supply contract with Boryung Pharmaceutical for 10 years and manufactured 45 percent of the domestic hemodialysis solution.

Also, as the hemodialysis solution market is increasing by 7 to 9 percent every year, the company expects it will play a significant role in stabilizing the supply and demand of hemodialysis fluids in Korea.

The company plans to complete the plant construction in the first half of 2019, and to begin mass production in 2020 after completing its installation, verification, and prototype production process.

“The new plant will become Korea's largest automated hemodialysis solution production facility,” GC MS CEO Ahn Eun-uk said. “We will continue to maintain our reputation as the leading company in the production of hemodialysis fluids.”