Korea's exports of COVID-19 test kits tipped to grow further

SEOUL. KAZINFORM – South Korea’s exports of coronavirus test kits are relied upon to assemble momentum not far off gratitude to high abroad request, industry sources said Thursday.

With the coronavirus flare-up raging over the globe, many influenced nations are scrambling to import South Korean COVID-19 test kits, in an aid to local manufacturers.

Source : inform.kz

As per the Service of Food and Drug Security, 72 test kits made by 46 organizations have been approved for exports. The figure incorporates six items that have won endorsement for crisis use locally.

Floated by flooding requests from abroad, a few test unit producers have just clinched a greater number of requests this year than a year ago’s aggregate.

Sugentech Inc. has marked 60 billion won (US$49 million) worth of arrangements to trade coronavirus test kits since April 1, which predominates its 2019 deals of 3.8 billion won.

In April alone, the organization sent test kits worth 10 billion won, and it has been producing 2 million kits for each week in the current month.

Sugentech has tied down arrangements to send out kits that will be delivered by June, an organization official stated, including shipments will probably increment further in the second quarter of the year.

Another industry player, Seegene. Inc. said its first-quarter deals came to 70 percent of its income for all of 2019, with working and net benefits previously surpassing those of a year ago. The organization didn’t give accurate figures.

Up until now, Seegene has sent out kits fit for directing 20 million tests to 60 nations. The organization as of late inked an arrangement to send out test kits to Brazil through a body under the World Health Organization and anticipated more exports in the coming months.

Bioneer Corp. has additionally marked an arrangement to send out COVID-19 test kits and related gear worth 6.8 billion won to Indonesia.

Bioneer, which saw its first-quarter deals flood 1.9 occasions from a year back, struck arrangements to gracefully test kits to Gabon and Lebanon in April.

Fare figures are a demonstration of high abroad interest for South Korean test kits. The estimation of test unit exports came to $201.2 million in April, a more than eightfold hop from $24 million in Spring, as per the information from the Korea Customs Administration.

In the initial four months of this current year, South Korea sent out $225 million worth of coronavirus test kits to an aggregate of 103 nations.