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Biopharmaceutical exports post Q1 record of $2 billion

Published: 10 Apr. 2026, 14:14 Updated: 10 Apr. 2026, 15:12

Containers are stacked in the Port of Pyeongtaek in Gyeonggi on April 1.[YONHAP]

Exports of Korean biopharmaceuticals reached $2 billion between January and March, rising 11.1 percent on year to post a first quarter record, according to preliminary estimates from the Ministry of Food and Drug Safety on Friday.

The figure stood at $1.5 billion in the first quarter of 2024 and jumped to $1.8 billion last year in the same period.

Biopharmaceuticals accounted for 71 percent of total medical and pharmaceutical exports in the first three months of the year, which came to $2.8 billion.

The strong performance in the export sector is seemingly attributed to the growing competitiveness of biopharmaceutical contract development and manufacturing organizations (CDMO) in the global market, along with the expanding market share of Korean biopharmaceuticals.

Exports to Switzerland accounted for the largest share at $340 million, followed by the United States at $330 million, Hungary at $300 million, Germany at $200 million and the Netherlands at $190 million. Notably, exports to Switzerland surged 70 percent from a year earlier, moving the country up from fourth to first over the same period. Exports to Hungary rose 20.2 percent, while shipments to the United States fell 12.6 percent on year.

Customers browse the shelves at a pharmacy in Yongsan District, central Seoul, on Feb. 8. [NEWS1]

“The increase in exports to Europe appears to be driven by technology transfers, collaborations with global pharmaceutical companies and a favorable environment for biosimilars,” the ministry said.

The ministry added that it will actively pursue regulatory diplomacy to support a global push by Korean biopharmaceuticals. Under a special law governing regulatory support for biopharmaceutical CDMOs, set to take effect in December, export-oriented manufacturers will be able to enter the global market without a domestic medical product manufacturing license.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY JUNG JONG-HOON [[email protected]]