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Key Points

South Korea's pharmaceutical exports have achieved a remarkable milestone in the first quarter of the year, reaching a record $2.56 billion with significant growth in European markets. Biopharmaceutical and vaccine exports showed particularly strong performance, increasing by 30.2% and 37.7% respectively. The surge is attributed to robust demand in Germany, Hungary, South America, and Africa. However, potential trade tensions with the United States and potential tariff policies could pose challenges to this promising export trajectory.

Key Points: Korea Pharma Exports Surge 17.7% on European Market Demand

  • South Korean pharma exports reach quarterly high of $2.56 billion
  • Biopharmaceutical shipments increased 30.2% year-over-year
  • Vaccine exports escalated 37.7% in key global markets
  • Potential trade risks from US tariff policies remain
2 min read

S. Korea's pharma exports hit record high in Q1 on robust demand in Europe: Report

South Korean pharmaceutical exports hit record $2.56B in Q1, driven by strong European market performance and biopharmaceutical growth

"Strong demand for biopharmaceutical and basic skincare products is expected to continue - Korea Health Industry Development Institute"

Seoul, June 4

South Korea's exports of pharmaceutical products reached an all-time high in the first quarter thanks to strong demand for Korean medicines in the European market, according to a report on Wednesday.

Outbound shipments of pharmaceuticals came to a quarterly high of US$2.56 billion in the January-March period, up 17.7 per cent from a year earlier, according to data compiled by the Korea Health Industry Development Institute, Yonhap news agency reported.

In particular, shipments of biopharmaceutical products increased by 30.2 per cent year-over-year, driven by sharp rises in shipments to Germany and Hungary, which rose 230 per cent and 112 per cent year-over-year, respectively.

Vaccine exports also escalated 37.7 per cent on high demand in South America and Africa.

Meanwhile, outbound shipments of cosmetic products jumped 12.7 per cent on-year to $2.58 billion in the first three months of the year, marking the second-highest figure for any quarter, according to the institute.

"Strong demand for biopharmaceutical and basic skincare products is expected to continue into the second quarter," it said.

The institute, however, noted there may be risks deriving from trade uncertainties sparked by US tariff policies.

US President Donald Trump has threatened to slap tariffs on foreign pharmaceutical products following already imposed duties on imports of steel, automobiles, and other key items.

South Korea has been seeking to gain a full exemption or reduction of the Trump administration's 25 per cent reciprocal tariffs for the country, as well as sectoral tariffs on steel, automobile, and other imports.

In a working-level meeting in May, the office of the US Trade Representative (USTR) urged Seoul to resolve non-trade barrier issues listed on its 2025 National Trade Estimate (NTE) Report on Foreign Trade Barriers, a Seoul trade official has said on the condition of anonymity.

The NTE report had laid out a wide range of Korea's non-tariff measures, including its import ban on American beef from cattle aged 30 months or older, South Korea's "offset" defense trade policy, digital trade barriers, such as restrictions on the export of location-based data, and emission-related regulations on imported cars, as well as pricing policies for pharmaceuticals.

- IANS

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Reader Comments

Here are 5 diverse Indian perspective comments on South Korea's pharmaceutical exports:
R
Rajesh K.
Impressive growth by South Korea! 🇰🇷 This shows how strategic investments in biopharma pay off. India should take notes - we have similar potential but need better policy support for our pharma exports. The European market is tough to crack but worth it!
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Priya M.
Interesting to see vaccine exports growing to Africa and South America. During COVID, India was the pharmacy of the world. We should reclaim that position by focusing more on high-value biologics instead of just generics. Korean companies are showing the way!
A
Amit S.
The US tariff threats are concerning. Protectionism hurts global trade. As someone working in Indian pharma, I know how difficult such policies make business. Hope both Korea and India can negotiate better terms. We need fair competition, not trade wars.
N
Neha V.
Korean skincare + pharma combo is brilliant strategy! Their cosmetic exports are almost equal to pharma. India has amazing Ayurveda heritage - why can't we package it as premium wellness products for global markets? Missing big opportunity here 😔
S
Sanjay R.
While Korea's success is commendable, let's not forget their government provided massive R&D support. Our pharma companies mostly operate independently. Time for stronger industry-academia collaboration in India, especially in biotech. Make in India should mean innovate in India too!

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