South Korea's biohealth industry exports reached a record $27.9 billion (approximately 40.9 trillion won) last year. Pharmaceutical exports exceeded $10 billion for the first time, while cosmetics achieved record performance for the second consecutive year.
The Ministry of Health and Welfare held a meeting with pharmaceutical, medical device, and cosmetics industry representatives on the 3rd and announced the "2026 Outlook and Export Promotion Plan." Biohealth exports last year increased 10.3% from the previous year's $25.3 billion, ranking as the nation's eighth-largest export industry following semiconductors and automobiles.
Pharmaceutical exports broke into triple digits for the first time at $10.4 billion (approximately 15.3 trillion won). Biopharmaceuticals, accounting for more than 60% of total pharmaceutical exports, led the growth at $6.5 billion. Advanced markets including the United States and Europe represented 39.5% of exports. Medical device exports reached $6 billion, driven by recovery in in-vitro diagnostic device exports and growth in general medical equipment.
Cosmetics exports rose 12.2% year-on-year to $11.4 billion (approximately 16.7 trillion won), marking a second consecutive annual record. The United States became the largest export destination, while exports to countries outside the top five accounted for 43.3%, up 7.6 percentage points from the same period last year, reflecting market diversification into Southeast Asia, the Middle East, and Europe.
The government set this year's export target at $30.4 billion. To achieve this goal, the ministry plans to invest 233.8 billion won—3.5 times the previous year's 68.5 billion won—in comprehensive support measures including mega-fund creation, Phase 3 clinical trial specialized support, and raw material supply chain reinforcement. Vice Health Minister Lee Hyung-hoon said, "We will develop biohealth into a core export industry following semiconductors, building on our world-leading contract manufacturing capabilities and K-Beauty popularity."