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South Korea eyes Mongolian pharmaceutical market www.news.mn
The Mongolian pharmaceutical market was worth 160 billion tugriks (USD 66.3 million) in 2015, according to the Ulaanbaatar Office of the Korea Trade-Investment Promotion Agency (KOTRA). Demand is increasing. About 80 percent of the nation’s total medicine demand relies on imports from 57 countries. Korean drugs are quite popular among Mongolians, as Korea ranks eighth among the 57 drug exporters in terms of export volume.
South Korean pharmaceutical companies have set an eye on Mongolia. For example, Samil Pharm established a joint venture with a Mongolian firm, and Dong-A Pharmaceutical set up a factory, in the landlocked country. Il-yang Pharm exports peptic ulcer treatment Noltec, and Dongwha Pharm, digestive drink Whal Myung Su, to Mongolia.
Published Date:2018-05-28
