The South Korean government has pledged support for companies that export pharmaceuticals and medical supplies, as well as for their research and development.

Industry Minister Sung Yun-mo said on Monday that his ministry plans to take active measures to expand exports of medicinal drugs and medical supplies that are growing very fast.

Sung said the ministry will also come up with measures to support pharmaceutical companies as they invest into research and development of new drugs targeting the global market.

The minister also called on the country's pharmaceutical industry to continue to invest into further expanding their reach in the global market and developing new drugs.

South Korea's outbound shipments of pharmaceuticals and medical supplies totaled three-point-seven billion U.S. dollars last year, making up zero-point-six percent of the country's total exports, while the growth rate has remained above ten percent for the past five years.