South Korea's biopharma shipments surge to a record $6.6 billion in first nine months
South Korean biopharmaceutical exports reached a new high of $6.6 billion from January to September, driven by strong European demand.
According to the Ministry of Food and Drug Safety, South Korea's biopharmaceutical exports climbed to an estimated $6.6 billion in the January-September period, a 15.8% increase from the previous year. These exports represented roughly 73% of the nation's overall pharmaceutical trade of $9 billion. In the third quarter alone, shipments rose 15.6% to $2.07 billion.
The United States remained the largest destination with $1.07 billion, followed by Switzerland at $1.01 billion and Hungary at $920 million. European markets showed particularly robust growth, supported by demand for CDMO services and biosimilar products. The data highlight South Korea's expanding role in the global biopharma supply chain.
Why it matters
The surge underscores South Korea's growing influence in the global biopharma market and its contribution to the national economy.
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