Globalizing K-med; Korea plans to expand its medical industry on the global stage

By Lee Un-shin, Arirang News, Nov.2017

Korea's health ministry has announced plans to help grow the country's medical industry on a global level, setting ambitious targets for the next five years. The goal is to not only promote the nation's medical expertise, but also to create business opportunities for local companies,... and bring aid to those in other countries who need quality care. Lee Unshin has more. "Korea is renowned for expertise and advanced skills in surgery in a range of medical fields. In fact the number of foreign patients who visited Korea just for treatment...reached 300-thousand last year. " Many of the patients came for cosmetic procedures, but plenty of them came for treatment of serious health conditions. "Korean hospitals are especially known for their cancer treatment programs and their very well-trained doctors. Patients from countries like China, Russia and Kazakhstan are some of our main clients. And these international patients often say they're highly satisfied with the service." The Korean government has announced a plan for the nation's medical industry to see some serious growth in the global market over the next 5 years, building on the successes it's already achieved. By 2021, it's set the goal of building more than 200 Korean medical institutions overseas, such as hospitals and clinics. As of last year, there were around 140 of them in 18 countries -- the greatest number in China, followed by the United States. It also hopes to bring in 800-thousand foreign patients by the target year. As part of efforts to achieve that it's planned global promotion efforts for next year. The government will send Korean doctors abroad to not only provide quality service... but to also instruct foreign doctors on state-of-the-art techniques. "Medical service and healthcare systems tend to be quite substandard in underdeveloped or developing nations. People in those regions could really use our help. I hope we, as a nation, can provide those people with advanced medical services at affordable prices." Along with that, the Korea Health Industry Development Institute, which promotes the industry abroad, will help Korean companies export larger amounts of medical gadgets, cosmetics, and pharmaceutical products. The hope is the plan will lead to the further globalization of the Korean medical industry and more opportunities for collaboration with international clients not just in the medical field, but branching out to other fields like high tech.

Lee Un-shin Arirang News.

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