Korea’s Pharma Production Hits Record ₩32.8 Trillion, Trade Surplus Achieved After 3 Years

In 2024, South Korea's domestic pharmaceutical production reached an all-time high of ₩32.86 trillion, marking a 7.3% year-on-year increase. Pharmaceutical exports surged by 28.2% to ₩12.67 trillion, surpassing imports and resulting in a trade surplus for the first time in three years. Biopharmaceutical production also saw significant growth, crossing ₩6 trillion for the first time—driven largely by genetically modified drugs. The sector outpaced national GDP growth and now accounts for 4.8% of Korea’s total manufacturing GDP.