Korea’s pharmaceutical market is worth approximately USD 19 billion as of 2016, accounting for about 1.7% of the global pharmaceutical market worth USD 1.10 trillion. As of 2016, the number of pharmaceutical companies in Korea stands at 853. Among them, manufacturers of finished pharmaceutical products are 353 with a combined workforce of 94,929 employees. The actual output of pharmaceutical products, including finished pharmaceutical products (about USD 14 billion), amounts to roughly USD 16 billion.
As of the end of 2016, Korea has manufactured 12,921 ETC drugs (worth total USD 11.5 billion) and 5,466 OTC drugs (worth USD 2.3 billion).