Yu Jeong-joon, second from left, head of SK Americas, and Kim Rak-gon, center, director general of the Korea Trade-Investment Promotion Agency's (KOTRA) New York office, pose with other dignitaries in New Jersey, Friday (local time), after signing a memorandum of understanding to establish a local collaboration framework in the United States. Courtesy of KOTRA
The Korea Trade-Investment Promotion Agency (KOTRA) and SK Biopharmaceuticals are teaming up to help domestic biotech firms expand into the United States, stepping up efforts to deepen Korea’s presence in the world’s largest biotechnology market.
The initiative comes as K-bio exports hit a record $16.4 billion in 2025, underscoring the sector’s growing global competitiveness.
Building on its recent launch of the K-Bio Global Innovation LinX initiative in Korea with the Korea Health Industry Development Institute (KHIDI) and Hallym University, KOTRA announced it has signed a memorandum of understanding with SK Biopharmaceuticals and the New York-New Jersey chapter of the Korean American Society in Biotech and Pharmaceuticals (KASBP) on Friday to establish a local collaboration framework in the U.S.
“K-bio exports and its global standing are gaining traction not only in the U.S., the world’s largest biotech market, but also across other advanced markets such as Europe,” KOTRA CEO Kang Kyung-sung said.
