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Bio Industry

Bio Industry Investment status

The total investment cost of bio industry companies in 2019 was KRW 7.987.9 billion,

The total investment in the bio-industry sector was KRW 2.586.4 billion, accounting for 32.3% of the total investment.

※ Source : Report on the results of a survey on the domestic bio industry as of 2019

Bio Industry Growth

The total pharmaceutical production in 2019 was about US$19.2 billion (KRW 22.31 trillion) and over the past 5 years the average annual growth rate was 7.1%.

※ Source : Report on the results of a survey on the domestic bio industry as of 2018

Average Annual Bio Industry Workforce

Over the past five years, the amount of manpower in the Bio Industry has been continuously increasing by 5.1%.

Changes in manpower in the bio industry of from 2015 to 2019

(Unit : Number of people, %)

Changes in manpower in the bio industry of from 2015 to 2019
Division 2015 2016 2017 2018 2019 AAPC
Number of employess 40,298 41,559 44.895 46.488 49.113 5.1
percentage change 6.6 3.1 8.0 3.5 5.6

※ Source : KoreaBIO, Result report of the survey on the domestic bio industry

Number of Bio-Industry Companies in Korea

Total 1,003

Investment size by province and in the bio industry 2019

(Unit : number, One million won)

Investment size by province and in the bio industry 2019
Division Number of companies number of responding companies R&D expenses Facility investment cost Total investment cost
Total investment Average investment Total investment Average investment Total investment Average investment
Nationwide 1,003 946 1,839,677 1,945 746,677 789 2,586,354 2,734
Seoul 229 203 218,468 1,076 49,991 246 268,459 1,322

※ Source : KOREABIO, Result report of the survey on the domestic bio industry

Seoul‘s Bio Ecosystem

Seoul Biomedical Business

21.9% of national biomedical businesses are located in Seoul. As Bio R&D occupies a relatively large proportion, Seoul is characterized as an R&D center.

※ Source : Statistics Korea, Raw data analysis of the National Business Survey

The total investment cost of the bio industry ranks 4th among cities and provinces.
Investment size by province and in the bio industry 2019

(Unit: Number, One million won)

Investment size by province and in the bio industry 2019
Division Number of companies Number of responding companies R&D expenses Facility investment cost Total investment
Total investment Average investment Total investment Average investment Total investment Average investment
Total 1,003 946 1,839,677 1,945 746,677 789 2,586,354 2,734
Seoul 229 203 218,468 1,076 49,991 246 268,459 1,322
Incheon 21 19 243,867 12,835 170,248 8,960 414,115 21,796
Gyeonggi-do 319 303 715,454 2,361 225,849 745 941,303 3,107
Chungbuk 81 78 354,610 4,546 93,740 1,202 448,350 5,748

※ Source : KoreaBIO, Result report of the survey on the domestic bio industry

Clinical Trial

Global Clinical Trial Trends

Korea recorded a global ranking of more than a dozen developments due to the government's support for strengthening new drug development capabilities and conducting rapid clinical trials.

※ Source : www.clinicaltrials.gov

Domestic Bio Industry Sales

※ Source : KoreaBIO