4. 1. Korean Healthcare Market
Background
1
• Increasing importance of healthcare industry in the economy
(potential for creating more jobs)
2
• Emergence of world-class hospitals
3
• Keen competition in domestic healthcare market
4
• Changing nature of consumer (e.g., aging trend, smart consumers)
5. Background
2. Global Healthcare Market
- 8% annual growth
- $3 trillion by 2015
- Emergence of new target market(e.g., CIS, Arab)
- Emergence of big players in global market
(e.g., Singapore Parkway Group, Interhealth Canada)
1) Rapid development of global healthcare market
2) Growing trend of healthcare market opening
(triggered by WTO, DDA, FTA)
10. Overseas expansion of Medical
institution by year
Overseas expansion of Medical
institution by region
Overseas Expansion of Medical Institutions (by year and region)
KHIDI Report(2013)
15. Supporting Institutions Function
Types
Market research
and information
offering
Research on
Policy &
Infrastructure
Overseas
Business
(Export)
Consulting
Service
Project
Management
Public
Institution
KHIDI
KOTRA
Public/
Private
Joint
KMH
Private
Institution
KOMEA
KOHEA
Committee (for
Exporting
Hospital/Medic
al Industry)
Function of Supporting Institutions
KHIDI Report(2013)
20. Policy and Legal System
1
• New law for supporting the export of healthcare system
2
• Public/private joint Task Force Team
(control center for supporting globalization of Korean healthcare system)
21. G2G Network
1
• Overseas branch offices (e.g., KHIDI, KTO, KOTRA)
2
• MOU between nations
3
• Offering training courses to healthcare workers in other nations
4
• Official Development Assistance(ODA) projects
(e.g., KOICA, Economic Development Cooperation Fund)
22. Research
1
• Research on overseas expansion of Korean hospitals/clinics:
current trend & strategies
2
• Research on Foreign healthcare market:
market characteristics & barriers
3
• Research on export strategies of other nations
4
• Research on policy and strategies in Korea, etc.
23. Information System
1
• Integrated information portal on foreign healthcare market
2
• Newsletter
3
• Making Ad materials (e.g., video, pamphlet)
24. Project Support
1
• Developing customized project for target nation
2
• Developing business model & HR
3
• Consulting services
4
• Financial support
(for research, consultation, initial cost for overseas expansion)
25. Marketing
1
• Hosting global conference or event (e.g., FAM tour)
2
• Making “export market development team”
3
• Supporting FAM tour
4
• Website
27. Strength Weakness
1) Medical outcomes
- Cancer survival rate, Robotic surgery
2) Low cost
3) Infrastructure (e.g., IT system)
4) Systematic support from government
1) Low brand awareness in global healthcare
market
2) Low visibility of Korea doctors
3) Lack of networks with foreign hospitals
4) Language barrier
Opportunity Threat
1) Development of global healthcare market
2) Enhanced national brand (e.g., Hallyu)
1) Emergence of new competitors
- Japan
2) Global economic recession
SWOT analysis
28. Thank you
Ki Nam Jin
Dept of Health Administration
Yonsei University
Korea
