2. TABLE OF CONTENTS
1. Medical Tourism in South Korea – An Overview
Medical Tourism Value Chain in South Korea
2. Total Foreign Patients Treated and Foreign Patients Revenue in South Korea, 2005-2010
3. Medical Tourism Treatment Cost Comparison, 2010
4. Foreign Patients by Nationality, 2010
5. Foreign Patients by Destination in Korea, 2010
6. Foreign Patients Selection for Type of Hospitals, 2010
7. Type of Foreign Patients by Inpatients, Outpatients and Medical Checkup Patients, 2010
8. Competitive Landscape of Major Hospitals (Yonsei Severance, Samsung Medical,
CheongShim International, Asan Medical and Seoul National), 2010
9. Major Drivers and Growth Barriers
Major Drivers
Growth Barriers
10. South Korea Medical Tourism Future Outlook and Projections
10.1. Expected Foreign Patients and Foreign Patients Revenue, 2011-2015
11. Medical Tourism Industry Factors: Historical and Projections
11.1. Total Foreign Tourist Arrivals and Tourism Receipts in South Korea, 2005-2015
11.2. Number of Hospitals, Clinics and Medical Centres and Hospital Beds, 2005-2015
11.3. Healthcare Expenditure in South Korea, 2005-2015
12. Appendix
12.1. Market Definition
12.2. Abbreviations
12.3. Research Methodology
Data Collection Methods
Approach
Disclaimer
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3. LIST OF FIGURES
Figure 1: Number of Total Foreign Patients in Thousands and Foreign Patients Revenue in
South Korea in USD Million, 2005-2010
Figure 2: Foreign Patients by Nationality in Percentage, 2010
Figure 3: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and Incheon)
in Korea in Percentage, 2010
Figure 4: Foreign Patients Selection for Type of Hospitals in Percentage, 2010
Figure 5: Type of Foreign Patients by Inpatients, Outpatients and Medical Checkup Patients
in Percentage, 2010
Figure 6: Expected Foreign Patients in Thousands and Foreign Patients Revenue in South
Korea in USD Million, 2011-2015
Figure 7: Total Foreign Tourist Arrivals in Million and Tourism Receipts in South Korea in
USD Billion, 2005-2015
Figure 8: Number of Hospitals, Clinics and Medical Centres and Hospital Beds in South
Korea, 2005-2015
Figure 9: Healthcare Expenditure in South Korea, in USD Billion, 2005-2015
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4. LIST OF TABLES
Table 1: Medical Treatment Cost Comparison among the US, India, Thailand, Singapore,
Malaysia, Mexico and the UK, in USD, 2010
Table 2: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and Incheon)
in Korea, 2010
Table 3: Foreign Patients Selection for Type of Hospitals, 2010
Table 4: Market Segmentation by Inpatients, Outpatients and Medical Checkup Foreign
Patients, 2010
Table 5: Competitive Landscape of Major Hospital Chains/Group in Singapore (Yonsei
Severance, Samsung Medical, CheongShim International, Asan Medical and Seoul National
University Hospital), 2010
Table 6: Total Foreign Tourist Arrivals in Million and Tourism Receipts in South Korea in
USD Million, 2005-2015
Table 7: Number of Hospitals, Clinics and Medical Centres and Hospital Beds in South
Korea, 2005-2015
Table 8: Total Hospitals, Clinics and Medical Centres by Medical, Dental, Oriental Medicine,
Dispensaries, Midwifery Clinics and Specialized Hospitals in South Korea, 2005-2010
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5. MEDICAL TOURISM IN SOUTH KOREA
TOTAL FOREIGN PATIENTS TREATED AND FOREIGN
PATIENTS REVENUE IN SOUTH KOREA, 2005-2010
The number of foreign patients visiting Korea has increased from ~ in 2009 to ~ in 2010,
indicating an increase of ~%. The revenue from
Nearly ~% of the patients visited Korea for foreign patients has increased nearly two fold to
skin care treatment and cosmetic surgery,
USD ~ million in 2010 from USD ~ million in
~% of the foreign patients came for
internal medical treatment and ~% visited 2009.
medical centers for checkups and close to
The foreign patients have increased over the
~% for family medicine
years primarily because of the promotional
campaigns being adopted by the government. The influx of foreign patients has increased
from ~ in 2006 to ~ in 2007 and ~ in 2008…
Figure: Number of Total Foreign Patients in Thousands and Foreign Patients Revenue
in South Korea in USD Million, 2005-2010
90,000.0 100.0
80,000.0 90.0
70,000.0 80.0
70.0
60,000.0
(USD Million)
60.0
50,000.0
50.0
40,000.0
40.0
30,000.0
30.0
20,000.0 20.0
10,000.0 10.0
0.0 0.0
2005 2006 2007 2008 2009 2010
Foreign Patients Foreign Patients Receipts (USD Million)
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6. MEDICAL TOURISM TREATMENT COST COMPARISON, 2010
There is huge difference in the cost of the treatment being offered in the US and in Asian
countries. For instance, Angioplasty treatment will cost USD ~ in the US while it will cost
USD ~ in India and Malaysia, USD ~ in Thailand and USD ~ in Singapore. This huge
difference in the cost is largely due to the lower labour cost in the countries in Asia region.
Even in case of medical diagnostic tests such as MRI scan, there exists a huge gap between
the cost charged in the US and in India.
Table: Medical Treatment Cost Comparison among the US, India, Thailand, Singapore,
Malaysia, Mexico and the UK, in USD, 2010
South
Procedure1,2 The US India Thailand Singapore Malaysia Mexico Korea
Heart bypass
(CABG)
Heart Valve
replacement
Angioplasty
Hip replacement
Knee replacement
Gastric bypass
Hip resurfacing
Spinal fusion
Mastectomy
Rhinoplasty
Tummy Tuck
Breast reduction
Breast implants
Crown
Tooth whitening
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7. Dental implants
Notes:
1. Costs of surgeries around the world. Costs given in USD
2. The price comparisons for surgery take into account hospital and doctor charges, but do not include the costs of flights
and hotel bills for the expected length of stay.
FOREIGN PATIENTS BY DESTINATION IN KOREA, 2010
….
Although in 2009, Incheon was one of the leading regions in the country, Daegu has
showcased phenomenal growth in number of medical tourist arrivals in 2010. The medical
tourists increased by ~% in 2010 from ~ in
Out of the total foreign patients visited in
2009. In 2009, Daegu represented ~% of the
South Korea, Seoul with ~ received the
maximum number of foreign patients medical tourist’s visits in South Korea which
followed by Gyeonggi with ~ patients and increased to ~% in 2010.
Daegu with ~
Some of the prominent medical centers and
institutions in the country are Keimyung University Dongsan Medical Center and Hyosung
Hospital. Dongsan medical center in South Korea is one of the leading medical centers in the
country and is expected to a play a very crucial role in determining the growth of Daegu as
the country’s leading medical region….
Figure: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and
Incheon) in Korea in Percentage, 2010
Seoul
Gyeonggi-do
Daegu
Busan
Incheon
Others
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8. Table: Foreign Patients by Destinations (Seoul, Gyeonggi-do, Daegu, Busan, and
Incheon) in Korea, 2010
Destination/Province Foreign Patients, 2010
Seoul
Gyeonggi-do
Daegu
Busan
Incheon
Others
COMPETITIVE LANDSCAPE OF MAJOR HOSPITALS (YONSEI
SEVERANCE, SAMSUNG MEDICAL, CHEONGSHIM
INTERNATIONAL, ASAN MEDICAL AND SEOUL NATIONAL),
2010
Table: Competitive Landscape of Major Hospital Chains/Group in Singapore (Yonsei
Severance, Samsung Medical, CheongShim International, Asan Medical and Seoul
National University Hospital), 2010
Key Medical Financial/ International
Treatments and Operational Patients
Major Players Group Overview Hospital Brands Performance Reach
   
Yonsei
University
Health System
(YUHS)
   
Samsung
Medical Center
(SMC)
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9.    
CheongShim
International
Medical Center
(CSMC)
   
ASAN Medical
Center (AMC)
   
Seoul National
University
Hospital
(SNUH)
Source: Company Reports, AM Mindpower Solutions
Note:
1) FY’2010 ending December 2010
SOUTH KOREA MEDICAL TOURISM FUTURE OUTLOOK AND
PROJECTIONS
EXPECTED FOREIGN PATIENTS AND FOREIGN PATIENTS
REVENUE, 2011-2015
South Korea is expected to register high growth in the number of foreign patients treated and
revenues generated from them in the next 5 years. The total number of foreign patients is
estimated to cross the mark of ~ thousand in 2011 with an expected ~ foreign patients being
treated in the country. The foreign patients are projected to get double in the next 5 years to
reach ~ by 2015. On the other side, the revenue from international patients is expected to
treble itself to USD ~ million by 2015 from USD ~ million in 2010. The foreign exchange
earnings from foreign patients will cross the benchmark of USD ~ million by 2013.
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10. Figure: Expected Foreign Patients in Thousands and Foreign Patients Revenue in South
Korea in USD Million, 2011-2015
300.0 400.0
250.0 350.0
300.0
200.0 250.0
(USD Million)
(Thousands)
150.0 200.0
100.0 150.0
100.0
50.0 50.0
0.0 0.0
2011 2012 2013 2014 2015
Foreign Patients (Thousand) Foreign Patients Receipts (USD Million)
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