KHIDI USA was established in 2008 to acquire overseas authorization and to facilitate the US expansion of Korean companies and institutions in the healthcare industry by serving as a bridge between Korea and the US. To help connect the two industries, we provide consultation for US market entry and share our expertise, resources, and industry connections in the fields of pharmaceutical/biopharmaceutical, medical devices, cosmetics, and other healthcare-related fields. With our market insights and knowledge of the local healthcare landscape, KHIDI USA aims to enhance the healthcare industry, bring innovation, and accelerate the growth of Korean healthcare companies in the US market.
The Korea Health Industry Development Institute (KHIDI) is a Korean government institution established in 1999 that provides systematic and professional support for the improvement of public health and enhancement of the international competitiveness in the healthcare industry. To deliver its mission, KHIDI provides support to strengthen Korea’s R&D capabilities and to accelerate the globalization of the Korean healthcare industry. KHIDI also aims to develop human resources in the industry and support startups to ensure their development as growth engines. Furthermore, KHIDI’s work to establish a strong healthcare infrastructure through policies and technology utilization will reinforce supporting framework for drug development and reflect changes in the healthcare industrial ecosystem.
"KHIDI’s mission is to promote the Korean healthcare Industry by supporting export and overseas marketing, the advancement of Korean healthcare services toward foreign patients, and the overseas expansion of healthcare service institutions.”
KHIDI envisions to be a professional institution that createssocial values and the future of the healthcare industry
Korea Healthcare Industry Landscape
Korea is one of the leading global economic powers with advanced technology, whose R&D investment as a proportion to the national GDP ranked as No.2 among OECD countries and the global market share of ICT (information and communication technology) products ranked as No.6. For the past 60 years, the export volume of Korean products has been rapidly increasing at the average annual rates of 16.9% (the world average: 5.4%). Among a number of industries that Korea takes lead in, the Korean government chose the healthcare industry as the next growth engine to open the ‘Post-IT industry’ era and established a systematic government support plan for industry promotion.
Korean pharmaceutical and biopharmaceutical industry is expected to play a greater role in the global market as globally competitive products and innovative technologies are constantly being developed. K-Pharma has achieved significant growth in the global pharmaceutical and biopharmaceutical industry and has become a global market player by establishing strategic alliances with multinational companies. Korean pharma and biopharma companies have developed highly specialized product portfolios.
Among countries, Korea was ranked 6th in 2017 in the world by global clinical trial site numbers. Among cities, Seoul, the capital city of Korea, was ranked as No. 1 and 2 in the world by site number between 2013 and 2017, as Seoul is the home to many general hospitals with world-class facilities and professionals. Seoul has earned a reputation as one of the best cities to conduct clinical trials.
Korean pharmaceutical products are increasingly making their presence in the global market; a significant increase in the export of biopharmaceuticals is leading the growth of total pharmaceutical exports. Japan has been Korea's biggest export market, and exports to Europe have risen significantly since EMA approval of biosimilars. Korean pharmaceutical market was valued at around $24.3 billion USD in 2019 which has been growing at a compound annual growth rate (CAGR) of 7.0% between 2015 and 2018.
Export Trends in the Healthcare Industry
(2000 - 2020)
Supporting businesses throughout multiple business areas—from market entry to business development—KHIDI provides guidance for companies that are seeking opportunities in the US market or those that have interest in the Korean market.
Medical Korea is a Korean national medical brand established to represent the excellence of Korea’s medical services. Medical Korea is also the title of the annual event held to promote the Korean medical industry, composed of conferences, exhibitions, and forums.
Biohealth Innovation Start-up Center serves as an accelerator for healthcare startups, providing support throughout all business cycles including technology and business consulting, company evaluation, business development, and funding.
Pharma Korea is a platform that aims to enhance the development Korean pharmaceutical industry by providing consultation to Korean companies for global expansion while outlining domestic and global pharmaceutical industry trends.