S. Korea's top pharmaceutical firms spend over 100 bln won each in H1 for R&D: data

Record R&D Spending by Major Pharma Firms

South Korea's major pharmaceutical companies each invested around 100 billion won (US$72.13 million) in research and development (R&D) during the first half of this year, according to data released on Sunday. The spending, which appears to be part of an effort to secure future growth engines, underscores the industry's continued focus on new drug development.

Yuhan Corp., known for its anti-inflammatory ointment Antiphlamine, reported in a regulatory filing that it invested 122.2 billion won in R&D during the January-June period, up 13.8 percent from the same period last year. This amount represents 10.5 percent of the company's sales in the first half.

Chong Kun Dang Pharmaceutical Corp., the maker of the household pain reliever Penzal, allocated 113.5 billion won to new drug development, equivalent to 12.3 percent of its half-year sales. The company's regulatory filing shows a 36.6 percent increase in R&D spending compared to the first half of 2025.

Hanmi Pharm Co. spent 125.5 billion won on R&D, accounting for 14.6 percent of its half-year sales, according to its regulatory disclosure. Hanmi launched an initiative in 2023 to develop a pipeline of obesity drugs, as noted by a company official.

Mid-Sized Companies Follow Suit

Other mid-sized pharmaceutical companies have shown a similar trend, spending around 10 percent of their first-half revenue on new drug development. GC Biopharm Co. invested 85.9 billion won in R&D, while Daewoong Pharma put 115.7 billion won toward research.

Biopharmaceutical Exports Surge

South Korea's biopharmaceutical exports are expected to reach a record high in the first quarter of this year, according to recent government data. For the first six months of the year, estimated exports of biopharmaceutical products stood at US$4.5 billion, up 15.3 percent, as reported by the Ministry of Food and Drug Safety. These products accounted for 86.5 percent of all pharmaceutical exports, which totaled $5.2 billion in the first half.

The growth in biopharmaceutical exports has been steady, rising from $4.9 billion in 2023 to $7.6 billion in 2025, reflecting the sector's expanding global footprint.