Output and exports of South Korea’s bio industry expanded at the fastest clip ever in 2020 amid the coronavirus pandemic, data showed.

Output of the local bio industry was estimated at 17.5 trillion won ($14.7 billion) in 2020, up 38.2 percent from the previous year, according to the data from the Korea Biotechnology Industry Organization and the Trade Ministry.

It was the highest on-year growth rate to date. The bio industry’s production had been growing at a double-digit rate since 2016.

The biopharmaceutical sector accounted for the largest portion of last year’s total production with 28.9 percent. (Yonhap)