Korean Drug Imports Outpace Exports

Korea's drug imports are still ahead of exports from the domestic sector, reports the Ministry of Health and Welfare.

1995 exports reached $474.9 million, six times the level in 1985, and have grown 5.3 times faster than imports in 10 years, but total export volume remained well below 1995's imports of $826.8 million. Moreover, domestic drugmakers have been sluggish in producing high-value-added finished drugs, resulting in a "backward export structure." Finished drugs represented 15.5% of 1995 exports ($63.6 million), compared with $344.4 million for exports of drug raw materials.