Korea aims to become medical hub

The government on Wednesday unveiled a set of plans to promote medical tourism with the aim to attract 1 million foreign patients per year by 2020.

In the “global health care promotion scheme” the government pledged to support marketing campaigns, ease immigration and investment rules and improve transport, accommodation, consulting and other services for international patients.

It also includes measures to help domestic medical service providers expand overseas.

The Ministry of Health and Welfare said the lack of relevant rules and systems hampered Korea’s health care tourism business despite the nation’s high quality medical services.

The number of foreign patients coming to Korea stands around 120,000 this year, a mere 0.59 percent in the world’s booming medial tourism market.

The world medical market for foreign patients has doubled from 66 trillion won ($6.1 billion) in 2006 to 110 trillion won in 2012 according to a government data.

The government doubled its goal for 2020 from the previous 500,000 to 1 million.

“With an aim to make Korea one of the leaders in the medical market, the ministry will pave the road by merging ‘in-bound’ and ‘out-bound’ strategies,” Minister of Health and Welfare Rim Che-min said in a briefing.

A center for nurturing 9,000 personnel a year who will conduct marketing services and manage medical tourism is scheduled to be built in 2014,

Around 11 billion won of the state employment insurance fund will be spent for the center.

The government will issue a certification for medical tourism coordinators from next year and medical interpreters will soon be introduced after public hearings.

Systems for medical fees and compensation will be revamped.

The Ministry of Welfare will make a guideline for medical charges, institutionalize compensation for medical malpractice, and increase certified medical institutes.

Measures to increase the issues of medical visas for patients and their caregivers and accommodations have been included in the plans.

Foreign patients often complained about the difficult booking processes and expensive fares for hotels.

The ministry will revise the law to allow foreign direct investment for medical corporations and to have overseas profits recorded in the books of domestic medical service providers, which is expected to make the business transparent.

The overseas expansion of medical services is also expected to promote after care services such as medical checkups.

Insurance firms will be able to attract foreign patients when the medical law is revised.

Other measures including loan programs and programs to promote a partnership among hospitals, consulting agencies and medical businesses will likely help support the overseas expansion.

The government will sign a deal with the United Arab Emirates that will allows UAE soldiers and their families to come visit Korea for medical services. Around 400 patients a year are expected to come during the first few years.

By Kim Young-won (wone0102@heraldcorp.com)