ExportKorea(Jin, 2014)
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Transcript of ExportKorea(Jin, 2014)
Korea’s Strategies for Exporting Healthcare System
2014 Medical Korea
Ki Nam Jin
Dept of Health Administration
Yonsei University
I. Government Policy for Globalizing
Healthcare System
Global Healthcare Market
Korean
Healthcare
Market
Background
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)
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)
Global Healthcare Market
Globalization
of
Healthcare
in Korea
Background
Korean
Healthcare
Market
Development
of
Healthcare
Industry
Globalization of Healthcare
National
Brand
Economic Development
Policy Goal
Inbound
Action
Globalization of Healthcare
Outbound
Action
Policy Actions
II. Current Trends
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)
Overseas Expansion of Medical Institutions (by specialty)
KHIDI Report(2013)
Overseas Expansion of Medical Institutions (by business type)
KHIDI PPT(2013)
III. Ecological System
Medical Institutions
Financial Service Industry
IT
Industry
Medical Device
Industry
Construction
Industry
Key Players
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/Medical Industry)
Function of Supporting Institutions
KHIDI Report(2013)
IV. Strategies for Exporting Healthcare
System
History of overseas market development efforts
Barriers
KHIDI PPT(2013)
Strategy
Policy & Legal
System
G2G Network
Research Information
System
Project Support
Marketing
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)
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)
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.
Information System
1
• Integrated information portal on foreign healthcare market
2
• Newsletter
3
• Making Ad materials (e.g., video, pamphlet)
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)
Marketing
1
• Hosting global conference or event (e.g., FAM tour)
2
• Making “export market development team”
3
• Supporting FAM tour
4
• Website
V. SWOT analysis of Korean Healthcare
System
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
Thank you
Ki Nam Jin
Dept of Health Administration
Yonsei University
Korea