S. Korea nixes Chinese-invested hospital plan on Jeju Island
Social affairsSept 15, 2014
South Korea will reject a Chinese medical group's plan to build the nation's first for-profit foreign hospital on the southern resort island of Jeju as doubts grew over the firm's financial status and management, officials at the health ministry said Monday. China Stemcell Health Group (CSC) has been seeking Seoul's approval since early 2013 to build Shaner Hospital on Jeju with a 50 billion won ($48.4 million) investment pledge, but the Ministry of Health and Welfare will turn down the proposal