Korea Tour : Korean Medical Wave

 

Korean medical technology is widely expanding its contribution and influence throughout international society. Korea transformed itself from a "learner" to a "frontrunner" in the area of advanced health technologies.

 

An increasing number of foreign patients, who suffer from tough diseases that are hardly curable in their local hospitals at home, visit Korea for cancer treatment, rehabilitation, transplants and other treatments. In many cases, these patients get their health completely restored and gleefully return back home with new hope in life.

 

Despite worldwide low growth, the global medical industry is projected to grow by 5.2 percent every year until 2020 (compared to 3.1 percent for automobile and 0.9 percent for IT). However, a few advanced countries have a grip on the international healthcare market. With its high technology and reasonable price in medical services, Korea is competing for more shares in the global market along with other Asian countries and emerging nations.

 

The comprehensive plan is under way now, which presents major policy directions under the vision "Korean medical wave to the world as a global healthcare leader."

 

First, for an export of "K-Medi Package" to the global market, the Korean government will actively engage in international bids for healthcare entities and support the international expansion of relevant industries, such as pharmaceuticals, medical devices, cosmetics, and traditional medicine.

 

Second, in order to facilitate the influx of medical tourists to Korea, the Korean government will encourage the development of products converging medicine and tourism, and enhance the credibility and convenience of inbound patients. A wide variety of collaborated products integrating medicine, tourism, the MICE (meeting, incentive tour, convention, and exhibition) industry and the travel industry will be offered to foreign patients. In order to reassure these international patients in visiting Korea, the government will improve the medical service environment by assessing and designating healthcare providers, controlling commission fees, and cracking down on illegal brokers.

 

Recently, Korea's global healthcare industry has achieved a rapid quantitative growth in a very short period of time. Now is the time to strengthen international competitiveness and credibility of Korean medicine by improving the quality of overseas expansion projects and attraction of foreign patients on the solid institutional foundation.

 

On the other hand, the dissemination of Korean medicine across the globe will contribute to the domestic economy and job creation. And the government will play a more significant role in overcoming diseases and promoting the health of the world population. Hopefully, the year 2017 will serve as another stepping stone for the Korean medical wave to sweep the global healthcare market.