Korea’s 9 Bioclusters: Engines of Biopharma Growth Potential
South Korea has swiftly risen to prominence in the global biopharmaceutical arena, evolving from a manufacturer of generic drugs into an innovative leader in therapeutic development—particularly in the fields of cell and gene therapy and biosimilars. This transformation creates significant opportunities for international companies at the forefront of biopharma innovation.
Now valued at around $22 billion, South Korea's biopharmaceutical market ranks as the 13th largest in the world. The country has achieved several notable milestones, cementing its status as a global biopharma hub. Seoul, for instance, led the world in 2022 for the highest number of pharmaceutical company-sponsored clinical trials conducted in a single city, while South Korea as a whole ranked fifth globally. Just west of the capital, the smart-city of Songdo stands out with the largest biopharmaceutical production capacity worldwide. Fueling this rapid growth has been a wave of strategic, cross-sector investments into bioindustry infrastructure. Between 2020 and 2022, average annual investment in the sector grew by 21.6%, with total investment reaching approximately $2.9 billion. This capital has supported both R&D programs and large-scale facility developments, reflecting a holistic and forward-thinking approach to ecosystem building.
South Korea’s extensive network of bio-clusters plays a vital role in driving the country's biomedical innovation. Developed through coordinated efforts between national and local governments, these clusters serve as dedicated hubs for nurturing biopharma startups. Equipped with cutting-edge research facilities, collaborative workspaces, and advanced manufacturing capabilities, they provide an ideal environment for early-stage companies to grow and thrive.
The map below highlights the major bio-clusters strategically located across South Korea.
Thanks to Korea’s world-class infrastructure and strong government support, an increasing number of domestic companies are emerging as global leaders in the biopharmaceutical space. The country is making impressive strides in biosimilars, large-scale manufacturing, and advanced therapeutic areas such as cell and gene therapy.
Let’s explore some standout examples:
Biosimilar Powerhouses: Samsung Bioepis and Celltrion
South Korea ranks second only to the U.S. in the number of FDA - approved biosimilars, with 14 out of 61 approvals attributed to Korean companies - led by Samsung Bioepis and Celltrion.
Samsung Bioepis boasts eight FDA - approved biosimilars, including Benepali® (Etanercept), and recorded $1.1 billion in revenue in 2024. Meanwhile, Celltrion, with six FDA - approved biosimilars - including Remsima® (Infliximab), the world’s first monoclonal antibody biosimilar - reported cumulative revenue of $1.8 billion by the end of 2024.
Manufacturing Excellence: Samsung Biologics
Korea’s Contract Development and Manufacturing Organization (CDMO) sector is expanding rapidly, spearheaded by Samsung Biologics. In 2024, the company secured $3.3 billion in annual contract orders.
With four operational manufacturing plants and a fifth launching in April, Samsung Biologics will expand its total capacity to 784,000 liters. The new facility will also include antibody-drug conjugates (ADCs) production capabilities, enhancing its already comprehensive service offerings.
Innovation in Cell and Gene Therapy: Medipost and Cha Biotech
To date, the Korean Ministry of Food & Drug Safety (MFDS) has approved 15 cell therapies and three gene therapies.
Medipost made history by commercializing Cartistem®, the world’s first allogeneic stem cell therapy derived from umbilical cord blood, used for treating knee osteoarthritis - generating $14.4 million in annual sales. Cha Biotech, on the other hand, licensed its proprietary cell differentiation technology to Japan’s Astellas Pharma in a deal valued at $32 million.
Rising Stars: Alteogen, LigaChem, and Orum Therapeutics
- Alteogen, founded in 2008, has developed ALT-B4, a unique hyaluronidase platform that enables the transformation of intravenous drugs into subcutaneous formulations—offering more patient-friendly treatment options.
- LigaChem Biosciences specializes in antibody-drug conjugates and has earned global recognition for its ConjuAll platform, winning ‘Best ADC Platform Technology’ at the Annual World ADC Awards six years in a row. The company has secured multiple technology transfer deals, including a $700 million agreement with Japan’s Ono Pharmaceutical for advanced cancer therapies.
- Orum Therapeutics is gaining momentum globally with its dual-precision targeted protein degradation technology for cancer treatment. It signed a $175.9 million deal with Bristol-Myers Squibb in 2022, followed by a landmark agreement worth up to $975.5 million with Vertex Pharmaceuticals in 2023.
- ABL Bio has recently made headlines with a landmark licensing agreement with GSK, valued at approximately $2.5 billion. This deal centers around ABL Bio's proprietary Grabody-B platform, designed to facilitate the delivery of therapeutics across the blood-brain barrier, aiming to develop novel treatments for neurodegenerative diseases. Additionally, ABL Bio is progressing with its bispecific antibody candidate, ABL001 (also known as CTX-009), targeting biliary tract cancer. The therapy has achieved a 17.1% objective response rate in a Phase 2/3 clinical trial, with comprehensive results anticipated later this year.
The South Korean government has been instrumental in accelerating the growth of the country’s biopharmaceutical industry. In 2023, it unveiled the Third Five-Year Comprehensive Plan for Development and Support for the Bio-Pharmaceutical Industry, with an ambitious vision of positioning Korea among the world’s top six pharmaceutical powerhouses.
By 2027, the plan sets out to achieve several key milestones:
This comprehensive strategy highlights Korea’s commitment to fostering innovation, global competitiveness, and sustainable industry growth.
While South Korea's biopharmaceutical industry has seen remarkable progress, significant market gaps remain—offering compelling opportunities for international companies to step in and add value. These gaps are particularly evident in three key areas:
1. Unmet Needs in Key Therapeutic Areas
Despite a surge in R&D activity, therapeutic focus in Korea remains highly concentrated. According to the Korea Drug Development Fund, nearly 50% of the 423 active R&D pipelines target oncology, with immunology following closely behind. This concentration has left important gaps in areas such as cardiovascular and gastrointestinal diseases, as well as rare and orphan conditions.
These unmet needs have created clear openings for international innovation. For example, we recently supported a UK-based client in successfully introducing a pediatric orphan drug to the Korean market—demonstrating the tangible potential for global companies to address these gaps.
2. Open Innovation with Established Pharmaceutical Companies
Several of Korea’s major pharmaceutical firms are proactively pursuing open innovation models to drive growth and global expansion. Companies like Hanmi Pharm, Daewoong, Yuhan, Dong-A ST, and GC Biopharma are actively collaborating with international partners through licensing agreements, co-development projects, and global market entry strategies.
A notable example is Yuhan Corporation’s partnership with Belgium-based Janssen (part of Johnson & Johnson) to co-develop and commercialize the anti-cancer therapy Lazertinib. Additionally, MSD (Merck & Co. in the U.S.) has formed collaborative ties with approximately 20 Korean pharmaceutical companies, covering licensing, joint R&D, and co-promotion initiatives.
3. Biotech Startup Partnerships
South Korea is home to over 1,000 biotech companies, many of which are innovative startups and university spin-offs. While these emerging ventures are rich in potential, they often face critical challenges in early-stage drug development—particularly in hit identification, lead optimization, and material scale-up.
Their primary goals include securing Investigational New Drug (IND) approvals and attracting investment, both of which often hinge on establishing proof-of-concept studies and forging strategic partnerships with global players.
To support these efforts, the Korean government has launched several collaborative initiatives. One standout example is the country’s AI-driven drug development program, which offers funding, networking opportunities, and global partnership support. We’re actively contributing to this initiative by assisting clients with application submissions and facilitating their communication with the relevant government agencies.
Conclusion South Korea’s biopharma success stories not only highlight the achievements of individual companies but also reflect the country’s rising prominence in the global pharmaceutical landscape. Driven by a robust economy, a highly skilled talent pool, and strong government investment in infrastructure and innovation, Korea’s biopharmaceutical sector is rapidly evolving into a competitive and forward-looking global player. While market entry can be complex, the opportunities for international companies that navigate it strategically are substantial—and the potential for long-term growth and impact is significant.
BIOLOGICS MANUFACTURING KOREA 2025!
14 Years of Excellence: South Korea’s Biggest Biologics Manufacturing Conference
📍 Songdo Convensia, Incheon, South Korea 📆 25 - 26 September 2025
2025 SPEAKERS
Jonggu Kim
Director, Quality, Lotte Biologics, South Korea
Tarun Saluja
Head, Clinical Development, International Vaccine Institute (IVI), South Korea
Heonchang Lim
Director, Formulation Development, Samsung Biologics, South Korea
Sia Pheng Tan
Head, Quality Assurance, Prestige Biologics, South Korea
Hyemi Kim
Team Lead, Digital Innovation, SK bioscience
Seokjoong Kim
Chief Strategy Officer, GenEdit, South Korea
Manh-Cuong Vo
General Manager, R&D Center, Vaxcell-Bio, South Korea
Paul Y. Song
Chief Executive Officer, NKGen Biotech, USA
Heon-Ju Lee
CEO, CarBio Therapeutics, South Korea
James Lin
Chief Science Officer, Medigen Biotechnology, Taiwan
Cheng-Yi Jerry Kuo
Vice General Manager, UWELL Biopharma, Taiwan
KwangJun Yoon
Managing Director, CHA Biotech, South Korea
- Korea Drug Development Fund. (n.d.). Pipeline data and therapeutic focus. Retrieved from https://www.kddf.org
- Korea Bioindustry Information Service. (n.d.). Industry statistics on Korean biotech companies. Retrieved from https://www.kobis.or.kr
- PR Newswire. (2024, April 15). ABL Bio announces Grabody-B brain delivery platform license agreement with GSK to develop novel medicines for neurodegenerative diseases. Retrieved from https://www.prnewswire.co.uk/news-releases/abl-bio-announces-grabody-b-brain-delivery-platform-license-agreement-with-gsk-to-develop-novel-medicines-for-neurodegenerative-diseases-302421547.html
- ABL Bio. (2024). Company news and clinical updates on CTX-009 (ABL001). Retrieved from https://www.ablbio.com/en/company/news
- Korea Ministry of Food and Drug Safety. (n.d.). Approved cell and gene therapies in Korea. Retrieved from https://www.mfds.go.kr
- Samsung Bioepis. (n.d.). Biosimilar portfolio and financial reports. Retrieved from https://www.samsungbioepis.com
- Celltrion. (n.d.). Company overview and biosimilar achievements. Retrieved from https://www.celltrion.com
- Samsung Biologics. (2024). Manufacturing capacity updates and contract orders. Retrieved from https://www.samsungbiologics.com
- Yuhan Corporation. (n.d.). Global partnerships and Lazertinib development. Retrieved from https://www.yuhan.co.kr
- Orum Therapeutics. (n.d.). Global deals and platform technology overview. Retrieved from https://www.orumrx.com
- Ligachem Biosciences. (n.d.). Antibody-drug conjugate platform and awards. Retrieved from https://www.ligachem.com
- Alteogen. (n.d.). ALT-B4 platform and company history. Retrieved from https://www.alteogen.com
- Korea Ministry of Trade, Industry and Energy (MOTIE). (n.d.). Investment data and industrial policy reports. Retrieved from https://www.motie.go.kr
- ClinicalTrials.gov. (2023). Korea’s clinical trials activity ranking and statistics. Retrieved from https://www.clinicaltrials.gov
- Intralink Group. (2025, February). South Korea: a new global hub for biopharma. Retrieved from https://www.intralinkgroup.com/en-GB/Latest/Intralink-Insights/February-2025/South-Korea-a-new-global-hub-for-biopharma
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