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Globalization

Exports reaching USD 3.1 billion Increased export of technology transfer

The Korean pharmaceutical industry is advancing into the world in earnest as evidenced by its increasing export of finished products, drug substances, and technology. The total exports of pharmaceutical products sold in 188 countries in 2016 stand at USD 3.12 billion, a 6% increase from the previous year. As for the technology transfer, 8 cases of technology exports were made in 2017 alone which amounts to USD 1.23 billion.

Regional branches of Korean pharma companies : Asia 55 branchies, Middle East 27 branchies, Europe 22 branchies, Africa 15 branchies, Latin America 24 branchies, North America 18 branchies, CIS 8 branchies

Top 10 export countries in 2016

(Unit : 1,000 US Dollar)
Rank Country Raw
material
Finished
product
Total
1 Japan 304,626 158,180 462,806
2 Croatia 28 397,830 397,858
3 Ireland 228,835 2,771 231,606
4 China 95,938 112,084 208,022
5 Vietnam 23,472 158,980 182,452
6 Hungray 374 134,660 135,034
7 US 86,215 30,065 116,280
8 Brazil 18,386 94,873 113,259
9 Germany 60,804 20,167 80,972
10 India 54,769 22,073 76,841
Others 535,624 579,643 1,115,267
Total 1,409,072 1,711,325 3,120,397
Source : Product performance of pharmaceuticals (2016, Ministry of Food and Drug Safety)