Published Date : Jul 28, 2014
The Korean medical services industry is keen on scaling up its export volumes to China. The fast-emerging medical devices and services market in China is being regarded as a lucrative opportunity for numerous players in the South Korean medical service industry. The Chinese government recently opened up the private and public medical services sector.
According to officials of the Korea International Trade Association (KITA), they expect to submit a draft of new policy suggestions and plans to the Trade Ministry. These suggestions will be geared towards enhancing the ability of Korean medical service providers to expand in overseas markets.
Suggestions such as offering medical services in China that go beyond cosmetic procedures are expected to figure in the KITA proposal. Officials from KITA are keen on Korean companies offering pediatric healthcare services, skin care, and obesity control to foray into the Chinese medical market. Besides being high in quality, Korean clinics could offer competitive-priced services.
KITA chairman Han Duck-Soo, speaking at a commemorative conference in Seoul, said that much of the success of Korean medical services in China would be hinged on creativity and innovation. Han added that there is a pressing need for Korea to introduce flagship services and products that will help the country maintain a competitive edge in the medical devices and services industry in China. With higher exports, Korea can move towards an efficient economic growth and job creation.
KITA officials will also be involved in market research initiatives pertaining to the Chinese market and base many of its proposed policies based on these research initiatives, as the medical systems in Korea differ vastly from those prevalent in China.