South Korea biohealth industry sees employment and revenue growth

South Korea's biohealth industry showed steady growth in the second quarter of 2026, with total employment reaching 1.156 million people, a 2.9% increase compared to the previous year. This growth outpaced the overall manufacturing sector, which saw a slight decline in employment.

Key sectors driving this trend include medical services, which accounted for 87.6% of new jobs, and the cosmetics industry, which recorded the highest growth rate at 8.8%. The pharmaceutical and medical device sectors also saw employment increases, though the dental device sub-sector experienced a 4.5% decrease.

In terms of financial performance, listed biohealth companies reported a 13.1% increase in revenue and an 18.7% rise in research and development (R&D) investment during the first half of 2026. Revenue growth was supported by increased exports in bio-pharmaceutical contract manufacturing and active pharmaceutical ingredients (API).

While R&D spending grew significantly, profitability indicators showed mixed results. The medical device sector saw improved operating margins, whereas the pharmaceutical sector experienced a slight decline in overall operating profit margins due to widening losses among small and medium-sized enterprises.