It built its economy on ships, steel and semiconductors but now South Korea is pushing a new growth engine, a major share of the world's booming medical tourism market.
The government's goal is one million foreign patients a year by 2020 and hospitals have launched aggressive marketing campaigns since they were allowed to advertise for foreign patients under a law that took effect last year.
"Today demand for medical services is higher than ever and medical tourism is growing rapidly," Vice Knowledge Economy Minister Kim Young-Hak told the opening of a three-day medical tourism expo recently.
The event, organised by the Korea Global Healthcare Association, which links hospitals, clinics and state agencies, drew about 5,600 visitors including nearly 300 foreigners.
The association, which has 750 members, said foreign buyers reached deals worth 32 million dollars with hospitals that took part.
"Our medical tourism is growing fast. We can easily catch up with Singapore and other Asian countries," association chief Park In-Chool told AFP. Just under 350,000 people visited Singapore for treatment in 2007, according to official figures.
Park said he expected South Korea's final figures for 2009 would show some 50,000 foreigners had visited for treatment compared to 27,400 a year before.
"So far we have tried to attract more patients from China, Japan, Russia and the United States. From now on, we will step up our marketing in wealthy Middle East countries."
