Has the South Korean Healthcare Sector valuation changed over the past few years?

Investors are pessimistic on the South Korean Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically. The industry is trading at a PE ratio of 89.0x which is lower than its 3-year average PE of 290x. The industry is trading close to its 3-year average PS ratio of 4.8x.

Which industries have driven the changes within the South Korean Healthcare sector?

Investors are most optimistic about the Biotech industry which is trading above its 3-year average PE ratio. Analysts expect its future annual earnings growth (24.7%) to be largely in line with prior year's earnings growth.

South Korean (KOSPI) Healthcare Sector Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 11 Jun 2026	₩291.6t	₩65.8t	₩3.3t	13.5x	88x	4.4x
Sat, 09 May 2026	₩352.2t	₩64.6t	₩2.0t	20.2x	178.2x	5.5x
Mon, 06 Apr 2026	₩361.7t	₩65.9t	₩1.6t	18.7x	225.9x	5.5x
Wed, 04 Mar 2026	₩398.3t	₩61.0t	₩2.7t	18.5x	144.9x	6.5x
Fri, 30 Jan 2026	₩408.2t	₩61.0t	₩2.7t	19.5x	151.2x	6.7x
Sun, 28 Dec 2025	₩360.5t	₩61.9t	₩2.7t	19.1x	133.3x	5.8x
Tue, 25 Nov 2025	₩349.9t	₩61.6t	₩2.8t	19x	124.2x	5.7x
Thu, 23 Oct 2025	₩314.4t	₩60.3t	₩2.1t	20.2x	152x	5.2x
Sat, 20 Sep 2025	₩307.7t	₩60.0t	₩1.9t	21.6x	159.4x	5.1x
Mon, 18 Aug 2025	₩295.1t	₩59.0t	₩1.5t	22x	194.2x	5x
Wed, 16 Jul 2025	₩294.8t	₩58.2t	₩1.5t	22.4x	201x	5.1x
Fri, 13 Jun 2025	₩283.2t	₩57.6t	₩1.5t	22x	183.7x	4.9x
Sun, 11 May 2025	₩264.1t	₩56.1t	₩1.4t	19.1x	193.7x	4.7x
Tue, 08 Apr 2025	₩249.9t	₩56.1t	₩1.3t	16.9x	187.9x	4.5x
Thu, 06 Mar 2025	₩286.3t	₩54.9t	₩867.6b	14.4x	330x	5.2x
Sat, 01 Feb 2025	₩272.1t	₩54.6t	₩831.2b	14.7x	327.4x	5x
Mon, 30 Dec 2024	₩250.0t	₩54.4t	₩803.1b	13.6x	311.3x	4.6x
Wed, 27 Nov 2024	₩245.3t	₩54.2t	₩805.0b	13x	304.7x	4.5x
Fri, 25 Oct 2024	₩275.6t	₩53.3t	₩854.8b	16x	322.4x	5.2x
Sun, 22 Sep 2024	₩279.8t	₩53.4t	₩856.4b	17.2x	326.7x	5.2x
Tue, 20 Aug 2024	₩264.2t	₩52.3t	₩767.6b	16.1x	344.2x	5.1x
Thu, 18 Jul 2024	₩250.2t	₩52.3t	₩750.8b	16.8x	333.2x	4.8x
Sat, 15 Jun 2024	₩226.8t	₩53.0t	₩740.9b	16.6x	306.1x	4.3x
Mon, 13 May 2024	₩236.3t	₩52.3t	₩544.9b	18.4x	433.6x	4.5x
Wed, 10 Apr 2024	₩231.4t	₩52.3t	₩463.2b	17.3x	499.6x	4.4x
Fri, 08 Mar 2024	₩228.6t	₩52.1t	-₩122,882,827,436.00	21.2x	-1860.1x	4.4x
Sun, 04 Feb 2024	₩241.5t	₩55.7t	₩32.1b	22.6x	7529.7x	4.3x
Tue, 02 Jan 2024	₩232.1t	₩56.1t	₩268.1b	22.9x	865.6x	4.1x
Thu, 30 Nov 2023	₩209.0t	₩56.1t	₩352.7b	20.1x	592.7x	3.7x
Sat, 28 Oct 2023	₩195.5t	₩56.0t	₩1.0t	18.2x	191.1x	3.5x
Mon, 25 Sep 2023	₩206.5t	₩56.0t	₩1.0t	18.8x	201.7x	3.7x
Wed, 23 Aug 2023	₩213.7t	₩55.6t	₩1.4t	23x	150x	3.8x
Fri, 21 Jul 2023	₩207.4t	₩56.1t	₩2.1t	21x	98.5x	3.7x
Sun, 18 Jun 2023	₩213.9t	₩56.3t	₩2.1t	21.4x	101.4x	3.8x


KR Market	-11.94%
Healthcare	-7.85%
Healthtech	-3.79%
Medical Equipment	-6.13%
Life Sciences	-6.38%
Pharma	-7.48%
Biotech	-9.19%
Healthcare Services	-9.62%

Company	Last Price	7D	1Y	Valuation
A347850 D&D Pharmatech	₩86.90k	3.3% +₩122.7b	256.9%	PS1263.4x
A041960 Komipharm International	₩8.00k	12.2% +₩62.9b	54.4%	PS11.6x
A082800 Vivozon Pharmaceutical	₩3.68k	30.0% +₩51.1b	-37.8%	PS4x
A214150 CLASSYS	₩43.30k	1.5% +₩42.4b	-28.1%	PE20.8x
A340570 T&L	₩59.30k	9.0% +₩39.3b	-7.9%	PE12.3x

Announcement • May 24

Lunit Presents Ai-Powered Ihc Biomarker Quantification and Spatial Tumor Microenvironment Analysis At Asco 2026

Lunit announced that five studies featuring its AI biomarker platforms are being presented at the 2026 American Society of Clinical Oncology (ASCO) Annual Meeting, taking place May 29–June 2 in Chicago, IL. This year's presentations reflect Lunit's expanding biomarker research beyond conventional immune profiling toward integrated AI-powered HER2/IHC biomarker quantification and spatial tumor microenvironment (TME) analysis. Using AI to characterize HER2 expression, immune phenotypes, tertiary lymphoid structures (TLS), tumor-infiltrating lymphocytes (TILs), and endothelial cells, the studies highlight the potential of integrated biomarker analysis to improve precision patient stratification across multiple cancer types. The five presentations include studies across biliary tract cancer (BTC), non-small cell lung cancer (NSCLC), adenoid cystic carcinoma (ACC), microsatellite-stable (MSS), metastatic colorectal cancer and advanced gastric cancer (AGC). One of the featured studies, led by researchers at Yonsei University College of Medicine, evaluates a first-line quadruplet regimen consisting of trastuzumab, nivolumab, gemcitabine, and cisplatin in HER2-positive advanced BTC. Using AI-powered whole-slide image (WSI) analysis, researchers analyze HER2 expression and immune phenotypes within tumor tissue. Among 40 patients enrolled in the multi-center phase Ib/II trial, the combination of therapy demonstrates an objective response rate (ORR) of 55%, disease control rate (DCR) of 95%, and median progression-free survival (PFS) of 10.6 months. Patients with HER2 IHC 3+ tumor cell proportions =10%, as identified by AI analysis, achieve substantially higher response rates compared to those below the threshold (80% vs. 36.4%). The study demonstrates how integrated AI-powered HER2 and spatial tumor microenvironment analysis may help identify patients more likely to benefit from HER2-targeted combination therapies. Another study characterizes the tumor microenvironment landscape of HER2-overexpressing NSCLC using AI-powered spatial analysis. Across more than 2,000 NSCLC whole-slide images, HER2-overexpressing tumors demonstrate significantly reduced tumor-infiltrating lymphocyte density and lower proportions of inflamed immune phenotype compared to non-overexpressing tumors. The immune-cold phenotype becomes more pronounced in tumors with higher proportions of HER2 3+ cells. The study provides additional insight into the biological relationship between HER2 overexpression and tumor immune status, while highlighting the broader potential of combining AI-powered HER2 analysis with spatial tumor microenvironment characterization in biomarker research. Another featured study, conducted with Seoul National University Hospital, explores AI-powered spatial tumor microenvironment analysis in adenoid cystic carcinoma (ACC), a rare cancer with limited treatment options. Researchers identify a subgroup of ACC patients with high endothelial cell and tumor-infiltrating lymphocyte (TIL) densities who demonstrate significantly prolonged progression-free survival following axitinib treatment (19.6 months vs. 11.1 months). The findings suggest that AI-based spatial profiling may help distinguish responder populations that are difficult to stratify using conventional biomarkers alone. Researchers at Asan Medical Center investigate AI-powered tumor microenvironment analysis in MSS metastatic colorectal cancer, which is generally considered resistant to immune checkpoint inhibitors (ICIs). Researchers find that patients with larger tertiary lymphoid structure (TLS) regions identified by AI demonstrate improved progression-free survival and overall survival following immunotherapy. The findings highlight the potential of AI-powered spatial analysis to identify MSS colorectal cancer patients more likely to benefit from immunotherapy.

Announcement • Apr 15

D&D Pharmatech Inc. announced that it expects to receive KRW 226.5 billion in funding from DS Asset Management Co., Ltd, Korea Investment & Securities Co., Ltd., Weiss Asset Management LP and includes other investors.

D&D Pharmatech Inc. announced private placement to issue Zero Coupon Series 2 Bearer-type, unsecured private placement convertible bonds due April 30, 2031 for gross proceeds of KRW 226,500,000,000 on April 15, 2026. The bonds are zero coupon with no yield to maturity and will mature on April 30, 2031. The bond is 100% convertible into 2,913,691 shares at a conversion price of KRW 77,736 at a conversion period of April 30, 2027 to March 30, 2031. The company will issue bonds by third party allotment and the bonds are restricted for 1 year. The transaction includes participation from Kiwoom-DS Investment Biohealth Fund for KRW 5,000,000,000, IBK Financial Group-DS Green Finance Fund for KRW 9,500,000,000, DS Investment Healthcare New Technology Fund No. 6 for KRW 50,000,000,000, Ds Investment & Securities Co.,Ltd. for KRW 10,000,000,000, Korea Investment & Securities Co., Ltd. for KRW 6,000,000,000, Aquila Investments XX for KRW 16,000,000,000, Brookdale International Partners, L.P. for KRW 17,500,000,000, Brookdale Global Opportunity Fund for KRW 32,500,000,000, NH Daily Biohealth PEF for KRW 10,000,000,000, Loftyrock-Wayne Global Pharmatech New Technology Fund for KRW 10,000,000,000 Korea Investment & Securities Co., Ltd. (in its capacity as the trustee of Fund 1 for KRW 2,100,000,000; Fund 2 for KRW 2,100,000,000; Fund 3 for KRW 550,000,000; Fund 14 for KRW 2,400,000,000; Fund 16 for KRW 1,000,000,000; Fund 29 for KRW 1,500,000,000; Fund 30 for KRW 1,000,000,000) for a total of KRW 10,650,000,000, Samsung Securities Co., Ltd. (in its capacity as the trustee of Fund 4 for KRW 1,250,000,000; Fund 5 for KRW 2,000,000,000; Fund 6 for KRW 1,500,000,000; Fund 7 for KRW 1,500,000,000; Fund 8 for KRW 1,000,000,000; Fund 20 for KRW 2,500,000,000; Fund 22 for KRW 1,500,000,000; Fund 26 for KRW 3,000,000,000; Fund 36 for KRW 1,500,000,000; Fund 37 for KRW 500,000,000) for a total of KRW 16,250,000,000, KB Securities Co., Ltd. (in its capacity as the trustee of Fund 9 for KRW 5,000,000,000; Fund 10 for KRW 2,700,000,000; Fund 18 for KRW 1,600,000,000) for a total of KRW 9,300,000,000, NH Investment & Securities Co., Ltd. (in its capacity as the trustee of Fund 11 for KRW 450,000,000; Fund 12 for KRW 300,000,000; Fund 13 for KRW 1,550,000,000; Fund 15 for KRW 1,100,000,000; Fund 17 for KRW 800,000,000; Fund 21 for KRW 2,500,000,000; Fund 23 for KRW 2,000,000,000; Fund 27 for KRW 2,000,000,000; Fund 28 for KRW 3,000,000,000; Fund 31 for KRW 1,400,000,000; Fund 32 for KRW 1,600,000,000; Fund 33 for KRW 850,000,000; Fund 34 for KRW 900,000,000; Fund 35 for KRW 250,000,000) for a total of KRW 18,700,000,000, Mirae Asset Securities Co., Ltd. (in its capacity as the trustee of Fund 24 for KRW 1,300,000,000; Fund 25 for KRW 700,000,000) for a total of KRW 2,000,000,000, Shinhan Investment & Securities Co., Ltd. (in its capacity as the trustee of Fund 19 for KRW 1,600,000,000; Fund 38 for KRW 500,000,000; Fund 39 for KRW 1,000,000,000) for a total of KRW 3,100,000,000.The transaction is approved by board of directors of the company and is expected to close on April 30, 2026.

South Korean (KOSPI) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New minor risk - Share price stability

Investor sentiment deteriorates as stock falls 16%

New minor risk - Share price stability

Price target increased by 11% to ₩89,000

Investor sentiment deteriorates as stock falls 15%

Now 20% undervalued

New major risk - Earnings quality

We Ran A Stock Scan For Earnings Growth And Celltrion (KRX:068270) Passed With Ease

Lunit Presents Ai-Powered Ihc Biomarker Quantification and Spatial Tumor Microenvironment Analysis At Asco 2026

Consensus revenue estimates decrease by 16%, EPS upgraded

First quarter 2026 earnings released

New major risk - Revenue and earnings growth

D&D Pharmatech Inc. announced that it expects to receive KRW 226.5 billion in funding from DS Asset Management Co., Ltd, Korea Investment & Securities Co., Ltd., Weiss Asset Management LP and includes other investors.

New major risk - Financial position

Full year 2025 earnings: EPS and revenues miss analyst expectations

Komipharm International Co., Ltd., Annual General Meeting, Mar 26, 2026