South Korea's biopharmaceutical exports reached a record high of $6.6 billion in the first nine months of this year, driven by robust demand from the European market, according to government data released Thursday by the Ministry of Food and Drug Safety.

During the January-September period, the country's biopharmaceutical exports rose 15.8% year-on-year to an estimated $6.6 billion.

The data showed that this segment accounted for approximately 73% of South Korea's total pharmaceutical exports of $9 billion during the same period.

In the third quarter alone, biopharmaceutical exports climbed 15.6% year-on-year to $2.07 billion.

For the first nine months, the United States was South Korea's largest export destination, with shipments valued at $1.07 billion, accounting for 16.3% of total biopharmaceutical exports.

Switzerland ranked second with $1.01 billion, followed by Hungary in third place with $920 million.

Export growth to Europe was particularly notable, with seven of South Korea's top ten biopharmaceutical export destinations located in Europe.

The growth was partly attributed to strong market demand for contract research organization services and biosimilars.