Puerto Rico, a Caribbean island with a population of about 3 million, may be relatively unfamiliar to Korea’s pharmaceutical and biotech industry, but it is in fact a key hub in the global drug manufacturing network.
The territory hosts more than 100 U.S. Food and Drug Administration (FDA)-approved manufacturing facilities, with many global pharmaceutical companies operating production bases there. Pharmaceuticals account for roughly 77% of Puerto Rico’s total exports, underscoring a bio-centered industrial structure alongside a strong manufacturing sector.
In addition to its production infrastructure, Puerto Rico’s institutional framework—operating under U.S. federal law and FDA regulations—is considered a core competitive advantage. Products manufactured there can be distributed as “Made in USA,” while incentives such as a corporate tax rate of around 4%, exemption from federal corporate tax, and R&D tax benefits make it an attractive strategic hub for manufacturing, research, and exports.
Building on this foundation, Puerto Rico is positioning itself as a new option for Korean pharmaceutical and biotech companies, offering advantages in both cost efficiency and regulatory alignment.
To promote its industrial competitiveness, representatives from local investment promotion agencies recently visited the Korea Biopharmaceutical Association (Chairman Jeong-seok Lee) to discuss expanding cooperation with Korean firms and strategies for entering the U.S. market.
Hit News met with Roberto Leflang of the Puerto Rico Industrial Development Company and Ella Woger, CEO of Invest Puerto Rico, to discuss strategies for attracting Korean companies, Puerto Rico’s industrial strengths, and future directions for collaboration.
Roberto Leflang, Executive Director of PRIDCO (left), and Ella Woger, CEO of Invest Puerto Rico. / Photo by Reporter Dong-woo Kim
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