Europe-led growth drives record $2B Korea biopharma exports

Korea’s biopharmaceutical exports rose to a record $2 billion in the first quarter, up 11.1 percent from a year earlier, as stronger demand from Europe helped offset a drop in shipments to the United States, the Ministry of Food and Drug Safety (MFDS) said.

The total marked the highest first-quarter figure on record. The total marked the highest first-quarter figure on record, News.Az reports, citing KoreaBiomed.

Biopharmaceuticals accounted for 71 percent of Korea’s total pharmaceutical exports of $2.8 billion in the January-to-March period, according to provisional ministry data.

The ministry said the increase reflected rising global demand for Korean biopharmaceuticals and growing strength in the country’s contract development and manufacturing (CDMO) sector.

Exports were steady across the quarter, with January shipments rising 11.9 percent from a year earlier to $660 million and February exports climbing 25.4 percent to $690 million. March exports came to $650 million, little changed from a year earlier.

A handful of markets accounted for most of the quarter’s exports, led by Switzerland, the United States and Hungary. Switzerland posted the strongest growth, rising from fourth place a year earlier to become Korea’s top biopharma export market in the first quarter, while exports to the U.S. declined.

The ministry said the rise in European exports appeared to reflect a mix of partnerships and technology licensing deals with global drugmakers, along with strong demand for biosimilars.

The agency also pointed to recent policy changes aimed at supporting the sector at home. These include a new law, passed in late 2025 and set to take effect at the end of 2026, that creates a registration system for companies making biopharmaceutical products for export, including export-focused CDMOs.

MFDS said it has also simplified paperwork tied to GMP reviews, reducing the number of required documents in drug approval filings from 11 to four.

News.Az 

By Leyla Şirinova