In 2021, biotech companies account for 44% of the life sciences companies in South Korea. More than half of South Korean biotechs are part of the therapeutics and diagnostics sector, of which 19% are publicly listed on the stock exchange.
The total value of venture financing for South Korean life sciences companies dropped by around 11% from 2020 to 2021. Looking at the biotech sector alone, the financing value increased from USD 216m in 2020 to USD 228m in 2021, but still could not compete with the strongest year 2019 with a record USD 791m biotech venture financing.
Many thanks to our partner Seoul BioHub operated by KHIDI (Korea Health Industry Development Institute) who contributed to the report.