South Korea's pharmaceutical, biotechnology exports surge 55 pc in H1

Seoul, June 29: South Korea's exports of pharmaceutical and biotechnologies surged from a year earlier in the first half of the year, data showed on Saturday. In the first six months of the year, the country exported 4.5 trillion won ($3.26 billion) worth of pharmaceutical and biotechnologies, up 55 per cent from 2.9 trillion won (about $2.09 billion) for the same period last year, according to the data from the Korea Pharmaceutical and Bio-Pharma Manufacturers Association.

The number of export deals dropped to seven from 12 over the cited period, but the amount of each deal grew sharply, the association noted, adding that each of the three deals signed this month was worth over 500 billion won, reports Yonhap News Agency. At the current rate, the country's annual total is expected to reach 8 trillion won, according to the association. "This means the competitiveness of our country's pharmaceutical and biopharmaceutical technologies have significantly improved," an association official said.