The results of the survey were revealed ahead of CPHI Korea, which will be held in Seoul, September 28-30.
South Korea recovered from the pandemic earlier than many other Asian countries and reported rapid growth in its contract manufacturing industry in the last two years.
In fact, the government is targeting over $50 billion in exports by 2030 and many international companies are accelerating efforts to deepen local supply networks.
Emphasising the surging demand, CPHI Korea is expecting to see more than 200 exhibitors in attendance from nearly 50 countries.
“We are very excited to be returning fully in-person this year as Korean pharma has boomed in the last few years, in particular local manufacturing and contract manufacturing, but also international sales opportunities are growing rapidly – and we expect this to be one of the fastest growing parts of the CPHI family,” commented Orhan Caglayan, Group Director at Informa Markets.
The 2022 edition will run in hybrid format with both in person networking as well as a targeted online matchmaking platform.