South Korea's bio-industry increased its value output by 16.2 percent to 12.32 trillion won in 2019 from 10.48 trillion won the previous year due to robust growth of the outsourced business.
According to data from the Korea Biotechnology Industry Organization, the value of outsourced services that include contract research organization (CRO) and contract manufacturing organization (CMO) businesses jumped 21.1 percent on-year.
South Korea's exports of bioproducts, which rose 28.1 percent on-year to 6.71 trillion won in 2019, largely contributed to the value output.
The exports consisted of biomedicine products accounting for 39 percent, followed by bio-related food at 35.8 percent, and bio services at 12.2 percent.
The exports of cytokine products, including biosimilars, surged 50.7 percent on-year in 2019.


Samsung Reports Record Profit as AI Boom Drives Memory Chip Demand
Spirit Airlines Gains Key Creditor Support for $500M Bailout Deal
DeepSeek Slashes AI Model Pricing to Boost Adoption and Challenge Global Rivals
Alphabet Earnings Surge on AI Growth, Cloud Revenue, and Strong Search Performance
Standard Chartered Q1 Profit Hits Record on Wealth and Investment Banking Growth
Robinhood Q1 Earnings Miss Expectations, Stock Drops After Hours
Seagate Stock Surges After Strong Q3 Earnings Beat and Bullish Outlook
OpenAI Faces Revenue Pressure and User Growth Challenges Ahead of IPO
Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List
Novartis Q1 2026 Earnings Miss Expectations as Generic Competition Pressures Sales
Starbucks Raises 2026 Outlook as Turnaround Strategy Boosts Sales and Earnings
Amazon Stock Dips Despite Record Earnings as AI Infrastructure Spending Surges
AstraZeneca Q1 2026 Earnings Surge on Strong Oncology and Rare Disease Drug Sales
Meta Raises 2026 Capex Outlook Amid AI Spending Surge, Shares Drop After Earnings
TSMC Exits Arm Holdings with $231 Million Share Sale Amid Strategic Portfolio Shift
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement
Advantest Stock Falls on Weak Outlook Despite Strong AI-Driven Results 



