South Korea’s biopharma companies have secured approximately $4.2 billion in biologics licensing deals, signaling rising activity in advanced therapeutic areas such as antibody–drug conjugates and cell and gene therapies, according to Healthcare Asia Magazine, citing McKinsey & Company.
Recent transactions include GlaxoSmithKline’s $2.5 billion agreement with ABL Bio to develop treatments capable of crossing the blood–brain barrier for neurodegenerative diseases, as well as LigaChem Biosciences’ $1.7 billion partnership with J&J Innovative Medicine. McKinsey noted that these deals reflect broader participation by South Korean firms in global oncology and next-generation drug development.
South Korean biopharma companies are also playing a larger role in global regulatory submissions and multiregional clinical trials, supported by hospital-affiliated research centers and a growing network of contract development and manufacturing organizations.
Public funding has further accelerated sector growth. Biopharma has been designated one of 55 National Strategic Technologies, and the Korea Drug Development Fund has committed $2 billion to support more than 1,200 innovation projects through 2030, McKinsey reported.
Capital markets have also expanded financing opportunities, with around 40 biotech IPOs on the KOSDAQ since 2018, including listings by pre-revenue companies. Together, these factors are expected to sustain continued growth in South Korea’s biopharma sector, according to Healthcare Asia Magazine.