Cost-effectiveness analysis (CEA) is a tool designed to help payers to maximise population health gain, given the payers’ budget constraints. Manufacturers are typically required to submit these data and demonstrate value for money for reimbursement approval in South Korea. However, a growing number of drugs have bypassed this hurdle in recent years as part of the CEA waiver policy introduced in 2015 to promote early patient access. Not surprisingly, some of these drugs, particularly “one-shot” therapies, have been priced abnormally high despite insufficient clinical evidence. The introduction of such drugs poses several challenges, such as affordability, clinical uncertainty and value for money. Jihyung has been involved in a series of studies to help develop a new P&R model, which can address uncertainty, value, affordability, and social values associated with high-cost drugs. She will share some of the results and insights drawn from case analyses, a Citizens Council meeting, and Focus Group Interviews with health economists, policymakers, clinicians, and civil societies/patient groups.