South Korea has one of the largest pharmaceutical markets in Asia, with more than 50 million South Koreans receiving prescription drug coverage under the single-payer National Health Insurance (NHI) program. The NHI is under the purview of The Ministry of Health and Welfare (MOHW), which also oversees the South Korean FDA, responsible for drug approvals, and the Health Insurance Review and Assessment Service (HIRA), which determines a drug’s reimbursement.
The South Korean drug marketing landscape is tightly regulated by the Pharmaceutical Affairs Act (PAA) with clearly defined regulations for consumer and clinical advertising. While there are no specific regulations pertaining to social media, promotion related to medicinal drugs must be conducted according to regulations.
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Our office in South Korea
GHMC has multiple offices and relationships with expert collaborators on the ground in South Korea to help your brand achieve success in this market.