As President Lee Jae-myung raised the need to introduce abortion pills domestically, related discussions resurfaced. In the securities market, Hyundai Pharm(004310), which holds the domestic distribution rights for the drug, drew attention and its share price surged.
On the 14th on the KOSDAQ market, Hyundai Pharm hit the upper price limit, trading at 6,070 won, up 29.84% from the previous day. The share price of DaeHwa Pharmaceutical(067080), which holds 2.6% equity in Hyundai Pharm, traded at 10,150 won, up 11.91% from the previous day.
The sharp rise in shares that day is seen as driven by the president's remarks at a Cabinet meeting on the need to introduce "Mifegyn (ingredient name mifepristone)," known as an abortion pill.
Mifegyn is a drug taken in early pregnancy (6–9 weeks) to induce abortion. In 2021, Hyundai Pharm applied to the Ministery of Food and Drug Safety for approval to import "Mifegymiso," a combination of mifepristone and misoprostol, an ingredient that induces uterine contractions. The product is developed and manufactured by the British pharmaceutical company Linepharma, and Hyundai Pharm holds the domestic distribution rights.
However, nearly five years after the approval application, the Ministery of Food and Drug Safety review has not been completed. Key issues have included the lack of established safety standards and permissible scope for drug use in abortion, as well as related institutional arrangements.
Behind the continued debate over introducing abortion pills in Korea is a legal vacuum now in its sixth year. The Constitutional Court in 2019 issued a decision of constitutional inconsistency on the abortion ban and called for replacement legislation by 2020, but related legal revisions have not been made to date.
As a result, institutional standards have not been set for criteria allowing abortion by surgery or medication, the role of medical institutions, or whether National Health Insurance coverage applies.
That day, the president said, "Other countries are all doing (medication), and while the government may evade responsibility by leaving it outside the law, the public is put at risk," emphasizing the need to establish related systems.
Earlier, Democratic Party of Korea lawmakers Nam In-soon and Lee Su-jin introduced a bill to amend the Mother and Child Health Act to allow abortion medication, and public opinion was evenly split for and against. The amendment would revise provisions related to the permissible scope of induced abortion and allow abortion by medication.
In the medical community, opinions are divided over legalizing abortion pills.
Supporters have argued that legalization is necessary, noting the rise in illegal drug use in Korea and the reality that it is permitted overseas.
Opponents noted that legalizing oral abortion drugs is an anti-life decision and warned that the drugs can cause side effects such as heavy bleeding and severe abdominal pain, potentially endangering women's health.