S.Korea’s SK secures double return after exiting Vietnam’s Imexpharm

In a quarterly report released on Sunday, SK said its subsidiary SK South East Asia Investment Pte. Ltd. had sold 61.8 percent of its 64.8 percent stake in Imexpharm in April 2026.

The remaining three-percent stake will be sold after further discussions, according to South Korea’s Maeil Business newspaper.

Market estimates valued the transaction at around 300 billion won (US$200.4 million).

Based on SK’s initial investment of roughly 150 billion won ($100.2 million) in 2020, the deal is believed to have generated a return of about 100 percent.

The buyer was China’s Livzon Pharmaceutical Group Inc., a research-focused pharmaceutical company involved in active pharmaceutical ingredients, manufacturing, and distribution.

Industry experts said Livzon acquired Imexpharm to speed up its expansion in Vietnam’s fast-growing pharmaceutical market.

The Southeast Asian pharmaceutical sector has high barriers to entry but strong growth potential, Maeil Business cited an industry official as saying.

SK identified the opportunity early, improved operational efficiency and corporate value, and successfully exited by selling to a strategic investor, the official added.

The deal is considered one of the most notable mergers and acquisitions in Vietnam’s pharmaceutical sector, as the Chinese group takes control of a leading domestic company known for its strong production capabilities in high-quality medicines.

Imexpharm operates 12 EU-GMP-certified production lines, a rare advantage in Vietnam’s pharmaceutical industry, where most firms remain at WHO-GMP standards.

SK first entered Imexpharm in 2020 with a 24.9-percent stake, when the company was the fifth-largest pharmaceutical firm in Vietnam.

Between 2021 and 2025, Imexpharm recorded a compound annual growth rate of 18 percent in revenue and 16 percent in EBITDA.