Korea's pharmaceutical exports are projected to surpass $10 billion this year, driven by stable growth in the United States and European Union markets and expanding presence in Global South countries.
Pharmaceutical exports reached $8.62 billion in the first ten months of this year, up 13.2% from the same period last year, according to a report titled "Pharmaceutical Export Trends and Opportunity Markets" released by the Korea Trade-Investment Promotion Agency (KOTRA) on Thursday. KOTRA said exports are on track to exceed $10 billion, compared with $9.27 billion last year.
Biopharmaceutical exports rose 15.6% year-on-year to $5.39 billion, leading growth in advanced markets including the U.S. and EU. Active pharmaceutical ingredient exports also showed steady growth, increasing 1.8% to $1.75 billion.
Exports to Global South markets including Thailand, Mongolia and Latin America grew significantly. Pharmaceutical exports to Thailand reached $120 million in the January-October period, up 15.3% from a year earlier. Cosmetic and medical product exports surged 18.4% to $22.48 million, riding on the popularity of K-Beauty.
In Latin America, the spread of K-Beauty boosted cosmetic pharmaceutical exports including Botox products by 34% to $68.51 million compared with the same period last year. Exports to Brazil jumped 49% to $42.43 million, drawing attention as a promising market.
Innovation and reliability were cited as K-Bio's key strengths by overseas clients. In a survey of companies and buyers participating in the "2025 Global BioPharma Plaza" conducted by KOTRA in October, respondents identified excellent quality (66%) and innovative technology (54%) as Korean pharmaceuticals' main advantages.
"This report confirms K-Bio's elevated status in both advanced and emerging markets since the pandemic," KOTRA President Kang Kyung-sung said. "As major countries diversify import sources to stabilize medical supply chains, we will provide customized support for promising segments including biopharmaceuticals, active pharmaceutical ingredients and AI-based platforms to diversify export markets and products."
