Korea's pharmaceutical industry has strengths in quality, safety, and accessibility, and is growing steadily with regulatory and technological advances.

 

High quality control standards:

Korea applies strict good manufacturing practices (GMPs) for drug manufacturing, which are closely overseen by the Ministry of Food and Drug Safety (MFDS).This contributes to maintaining quality that is recognized both domestically and internationally, and enables the production of medicines that meet global standards.

 

Vigorous development and production of generic drugs:

Korea is actively developing and producing generic drugs, which are copies of original drugs whose patents have expired. Generic medicines are available at a lower cost than original medicines and are linked to the Korean health insurance system, helping to reduce healthcare costs.

 

Development of biopharmaceuticals and innovative new drugs:

Korean pharmaceutical companies have recently invested heavily in the development of biopharmaceuticals and innovative new drugs, and research and development is active in various fields such as anti-cancer drugs, rare disease drugs, and immunotherapy drugs. Samsung Biologics and Celltrion are globally competitive in the biosimilar (biologics copycat) market.

 

Sophisticated drug information system:

Korea has a well-developed system for drug information and prescription management, which helps patients and medical staff use medicines safely. Mobile applications make it easy for patients to access information and precautions about their medications, including information on drug interactions and side effects.

 

Access and price stabilization:

Drug prices in South Korea have been stabilized under government control, and the health insurance system makes medicines more affordable for the public. Access to essential and high-cost medicines is being strengthened to ensure that all citizens have access to basic care.

 

Strengthening drug safety management:

Korea operates the Adverse Drug Reaction Reporting System to monitor the safety of medicines, which tracks and analyzes adverse drug reactions in real time. This allows us to quickly collect adverse event information and take action, such as restricting the use of the drug, if necessary.

 

Korea's pharmaceutical industry is actively growing not only in the domestic market but also in the export market, thanks to its reliable quality, efficient price management, and innovative R&D capabilities.