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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.
Along with traditional driving forces such as the automobile and shipbuilding industries, Korea has geared its focus toward healthcare, considering it a new growth engine. Accordingly, the government is providing support to the industry with various policy measures.
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.
With the enforcement of the Act on Support for Overseas Expansion of Healthcare System and Attraction of International Patients from June 2016, the Ministry of Health and Welfare (MOHW) took the lead in systematically supporting the global expansion of the Korean healthcare industry from a long-term perspective. With the relevant governmental bodies, including the Ministry of Strategy and Finance, Ministry of Culture, Sports and Tourism, and Ministry of Trade, Industry and Energy, the MOHW jointly established the 2017-2021 comprehensive plan to support overseas expansion of Korean medicine and attraction of foreign patients.
This comprehensive plan 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.
The government is reinforcing government-to-government cooperation and promoting private exchange in the regions in medical needs, including Asia (especially China), Middle East, South America, Russia and Commonwealth of Independent States (CIS). The global network is expected to be solidified through more foreign medical professionals' training in Korean hospitals and dissemination of scientific clinical data on top-notch areas of Korean medicine. In addition, the sharing care program to help the low-income population across the globe aims to enhance Korea's international contribution.
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.
The writer is vice health and welfare minister.
