South Korean pharmaceutical companies are intensifying their push into the global obesity treatment market, which is projected to reach approximately 370 trillion won (USD 268.4 billion) by 2030, according to the Korea Health Industry Development Institute. Led by Hanmi Pharmaceutical, HK Inno.N, and JW Pharmaceutical, local firms are advancing commercialization of domestic GLP-1 receptor agonists and developing next-generation oral therapies.
As of March 2025, cumulative prescriptions for Novo Nordisk's Wegovy (semaglutide) and Eli Lilly's Mounjaro (tirzepatide) in South Korea reached 2,072,485 cases, based on data from the Health Insurance Review and Assessment Service. Mounjaro accounted for 977,310 prescriptions, reaching 89.2% of Wegovy's 1,095,175 prescriptions, indicating rapid market penetration.
Hanmi Pharmaceutical leads the domestic race, having filed for marketing authorization of its proprietary GLP-1 obesity drug, epeglenatide, with the Ministry of Food and Drug Safety in December 2024. A decision is expected in the second half of 2025. If approved, it would be the first domestically developed GLP-1 obesity drug. Epeglenatide utilizes Hanmi's Lapscovery platform for sustained release, aiming to enhance efficacy duration and reduce gastrointestinal side effects. A global cardiovascular outcomes trial also suggested potential improvements in cardiovascular and renal risk.
HK Inno.N is conducting a Phase 3 clinical trial in South Korea for IN-B00009, licensed from Chinese biotech Sciwind Biosciences. The drug features enhanced signal selectivity for improved efficacy and metabolic benefits, with a reported mean weight loss of 15.1% over 48 weeks.
JW Pharmaceutical recently secured exclusive rights in South Korea for vofanglutide, licensed from China's Ganne & Lee Pharmaceuticals. Vofanglutide is administered once every two weeks, offering reduced dosing frequency compared to current weekly injections.
However, industry observers note that the global market is rapidly shifting toward oral GLP-1 drugs, posing a challenge for latecomers. In response, South Korean firms are pursuing dual strategies: commercializing injectables while developing oral formulations.
Daewoong Pharmaceutical is developing an oral GLP-1/GIP drug and has partnered with startup Tion Lab Therapeutics to create a once-monthly long-acting injectable. The company aims to build a comprehensive obesity treatment portfolio including oral, long-acting injectable, and microneedle delivery systems.
Chong Kun Dang is developing a GLP-1 candidate with enhanced oral bioavailability, while Celltrion is pursuing a dual-track approach with multi-agonist injectables and oral drugs.
Reducing gastrointestinal side effects and improving dosing convenience are critical for domestic firms to compete. Analyst Kwon Hae-soon of Eugene Investment & Securities commented, "From this year onward, route of administration, convenience, cost, and manufacturing capability will emerge as key differentiators for next-generation obesity treatments. The influx of oral drugs into the injectable-dominated market will create new commercialization opportunities."
Source: Read the original report | Published: May 26, 2026