So it’s needed in the states. Why is it needed in Korea?
Since 2000, South Korea has grown from a developing pharmaceutical market to one boasting of universal healthcare coverage and easy access to medical facilities; but is
South Korea provides strong financial support for its elderly population through impressive access to healthcare insurance and reimbursement.
The Korean regulatory authority approves medical products through a transparent, strong and efficient regulatory system, and this clarity and efficiency attracts foreign investments, fuelling the growth of the South Korean healthcare market.
Why it can succeed
The medical industry in Korea is substantial and growing. Korean health expenditures in 2008 were US $61.3 billion or more than 6% of Korea’s GDP. Korea’s healthcare expenditure is expected to continue to increase based on a variety of factors including the increasing wealth and spending of the population and the aging population.
Korea is a plastic surgery capital.
Received funding with competition of 500:1 . Spoke at the failure conference.
According to a report from The Economist Online, a 2009 Trend Monitor survey says that one in five Korean women have had plastic surgery.
According to CNN –
Korea is gaining a reputation as a plastic surgery mecca, a place where doctors are highly skilled, citizens are more than willing and the technology is top-notch.
GooDoc has received investments from Fast Track Asia, a fast growing incubation company that provides resources, financing and management to young potential companies in the region. With the expansion into the Chinese market, GooDoc is actively scouting for investment from online publishers in China and is also open to investment from SEA.
With the number of global medical tourists expected to reach 40 million by the end of 2010, Korea is more than ready as it combines traditional Korean medicine with modern medical technology.
Korea has one of the highest cancer survival rates in the world. Its advanced screening physical examinations offer a high level of accuracy. Up to 60 types of examinations are made available to visitors and test results are given one to two days later. Korea’s use of da Vinci robot surgery is also highly accurate and ensures speedy recovery times because incisions are minimally invasive.