Korea’s pharmaceutical exports set to top $10 bn, led by ‘K-M7’ champions

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Korea’s pharmaceutical exports set to top $10 bn, led by ‘K-M7’ champions - Korea Economic Daily

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MAGNIFICANT SEVENThe rapid rise has been spearheaded by a cohort of leading drugmakers, including Samsung Biologics, Celltrion, SK Biopharmaceuticals, GC Biopharma, Yuhan Corp., Daewoong Pharmaceutical Co.and Dongwha Pharm, which local analysts have dubbed the “K-M7”, a play on the “Magnificent Seven” moniker used to describe dominant US Big Tech stocks.

South Korea’s pharmaceutical exports are on course to surpass $10 billion this year, underscoring the country’s growing clout in the global biotechnology market as companies like Samsung Biologics Co.and Celltrion Inc.extend their international reach.

Should this year’s figures cross the $10 billion threshold, pharmaceuticals would become the third of the government’s five designated “high-potential consumer goods” – alongside agricultural and fisheries goods and cosmetics – to reach that milestone.