The noteworthy advancement of medical technology in Korea is now being recognized by a much larger audience spread across the globe. Korea’s transition from a learner to a prominent leader in the global healthcare technology market is quite a story.
In recent time the country has registered a higher number foreign patients who come seeking for effective medical treatments for cancer, diabetes and other transplant procedures and rehabilitation programs. In several cases, patients are extremely satisfied with the results and go back home with delightful new hopes in life.
Along with traditional heavyweights such as shipbuilding and automobile primarily driving the economic growth of the country, the healthcare sector has emerged as the new subordinate member joining the game. In addition, the government has also been extremely supportive towards the industry outlining various policy measures.
Few of the economic powerhouses of the world have a strong grip over the global healthcare market. However, with its advanced technology and cost-effective treatment, Korea is aiming for a higher share in the global market along with other emerging nations in the Asia Pacific region.
The government has enforced Acts to extend overseas operations on healthcare systems and attract the international patient base. The ministry of Health and Welfare (MOHW) is taking initiatives to promptly support the overseas expansion of the country’s healthcare industry based on a long-term outlook.
Further, the associated government bodies such as ministry of culture, ministry of strategy and finance, ministry of trade, sports and tourism industry, and energy industry have jointly curated comprehensive plans for the economic growth of the country in the near future, which will also benefit the Korean healthcare sector both in domestic and international fronts.
The government is strengthening the government-to-government ties and encouraging private exchange in regions with medical needs, including South America, the Middle East, Asia (especially China), the Commonwealth of Independent States (CIS) and Russia. Such global network foundations are expected to attract a larger number of foreign medical professionals to train and study in Korean healthcare institutes.