By Kim Jae-kyoung
Staff Reporter


Foreigners living in Korea will be able to receive medical treatment from doctors from their own countries beginning as early as next year.
The government is undertaking major surgery on the nation’s uncompetitive medical industry by easing regulations on hospital businesses and opening the industry to foreign firms.

The Ministry of Finance and Economy (MOFE) said yesterday that the government will unveil a package of measures to advance the medical industry at the ministerial meeting slated for July 19 as part of efforts to develop the nation’s service industry.

``It is essential to enhance the nation’s underdeveloped medical industry through deregulation to prevent Korean patients from going abroad and to attract more foreign patients here,’’ a MOFE official said on condition of anonymity.

``If this plan materializes, Koreans will not only take advantage of better medical services but also have more job opportunities,’’ he added. ``It will also attract more foreign investment.’’

According to the MOFE, the government plans to allow expatriates or those with medical licenses issued abroad to provide medical treatment here. This move comes as many foreigners have complained of a language barrier in hospitals.

``One of the principle problems with health care in Korea in respect to foreigners is English,’’ former AMCHAM chairman Jeffrey Jones told The Korea Times.

``There are several international clinics where English is available, but in general English is the biggest barrier to foreigners getting health care in Korea,’’ he added. ``Foreign hospitals may help to relieve communication problems.’’

Also, the government plans to permit Korean doctors to work at different hospitals at the same time like a freelancer, while allowing hospitals to offer one-to-one medical services for patients. It also plans to soften regulations on medical advertisement.

In another move, the government is considering a plan to allow hospitals to be listed on the local bourse to enable individuals to invest in them.

``If a hospital is established in the form of a joint-stock company, the hospital can be listed on the bourse and individual investors can trade shares,’’ another MOFE official said. `` In this case, a hospital can attract funds publicly and get a more competitive edge.’’

The MOFE official said that if any of the measures are settled at the July 19 meeting, they will go into effect next year at the earliest after the government revises the related laws and regulations.

The nation’s medical industry needs special treatment as it is fairly underdeveloped compared to those of advanced nations due to hospitals’ uniform services caused by excess regulation.

In fact, the regulated medical sector is a major stumbling block to attracting foreign investment and the nation’s vision of transforming the nation into a financial hub in Northeast Asia.

In Korea, private medical insurance is not allowed, which has made medical services cheap but also uniform and uncompetitive. And the current price system does not reflect differences of medical services quality.

Moreover, domestic hospitals are not obliged to provide information regarding medical services, including operation success rates, enabling incompetent doctors to continue practicing.

``The current medical law is the one that imitated the Japanese one 50 years ago and has not changed since then,’’ a local hospital official said. ``If this outdated law is not altered, domestic hospitals will not survive competition with foreign firms.’’

kjk@koreatimes.co.kr