SEOUL, July 15 (Korea Bizwire) — South Korea’s pharmaceuticals industry needs government-level support to mitigate potential impacts from the United States’ aggressive tariff policies, a local think tank said Tuesday. The recommendation comes after U.S. President Donald Trump threatened to impose tariffs of up to 200 percent on foreign-made pharmaceuticals as part of his protectionist [...]
SEOUL, July 15 (Korea Bizwire) — Despite a sluggish economy, South Korea’s health supplement industry posted double-digit growth in 2023, becoming the only segment of the country’s biohealth sector to do so, according to new government data. A report released July 13 by the Korea Health Industry Development Institute (KHIDI) showed that the health supplement [...]
SEOUL, July 14 (Korea Bizwire) — In a move expected to accelerate the rollout of biosimilars — often referred to as a next-generation growth engine — South Korea’s drug regulator plans to streamline the approval process for these cost-effective biologic drugs beginning in 2026. According to pharmaceutical industry sources on Sunday, the Ministry of Food [...]
SEOUL, July 8 (Korea Bizwire) — South Korea’s pharmaceutical industry is once again under fire as a string of illegal rebate scandals have surfaced in 2025, reigniting calls for structural reform and stronger support for new drug development. Prosecutors recently indicted three mid-sized pharmaceutical companies and their employees in connection with the so-called “residents’ rebate” [...]
HWASUN, July 7 (Korea Bizwire) — In a quiet but groundbreaking shift in South Korea’s public health arsenal, scientists have achieved a global first: the successful development and approval of a recombinant protein-based anthrax vaccine. The move not only secures the country’s long-sought vaccine self-sufficiency but also positions it as a potential exporter of safer, [...]
DAEJEON, June 30 (Korea Bizwire) — In a breakthrough that could reshape targeted drug delivery and biomedical engineering, South Korea’s Korea Advanced Institute of Science and Technology (KAIST) announced Monday the development of self-moving cell robots fueled by biological waste products. While global research on micrometer- and nanometer-scale non-living self-propelling robots is well advanced, the application [...]
BOSTON, June 21 (Korea Bizwire) — South Korea solidified its standing as a global biotech powerhouse at this year’s BIO International Convention (BIO USA), the world’s largest biotechnology exhibition, which concluded Wednesday in Boston. With over 1,300 Korean delegates—the most from any overseas nation for the third consecutive year—South Korea’s presence reflected both its scientific [...]
SEOUL, June 18 (Korea Bizwire) — South Korea’s state-run trade promotion agency said Wednesday it is operating a Korean pavilion at a major U.S. biotech exhibition this week, highlighting the country’s bio and pharmaceutical technology. The pavilion, run by the Korea Trade-Investment Promotion Agency (KOTRA), features 58 companies in cooperation with five local industrial associations, [...]
SEOUL, June 18 (Korea Bizwire) — A string of clinical trial failures is putting severe financial strain on South Korea’s biotech sector, forcing some drug development firms into liquidation or restructuring as investor confidence continues to erode. On Tuesday, industry sources confirmed that OsteoNeuroGen, a pharmaceutical startup focused on treatments for idiopathic pulmonary fibrosis, will [...]
SEOUL, June 4 (Korea Bizwire) — 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, data showed Wednesday. Outbound shipments of pharmaceuticals came to a quarterly high of US$2.56 billion in the January-March period, up 17.7 percent from a [...]