2016-20 plan to foster Korea's medical sector
09-Sep-16, Arirang
Korea's Ministry of Health and Welfare has unveiled a comprehensive plan to boost the medical sector. The 5-year plan includes providing tax cuts for companies making investments into R&D facilities and conducting clinical trials to test new drugs.
%20Arirang.jpg "2016 20 plan to foster Koreas medical sector (c) Arirang")
Image: Arirang
The government hopes to increase the number of new pharmaceutical drugs for export, increase the number of jobs in the sector to one million and raise medical-related exports to USD18 bn by 2020.
It also expects to attract more foreigners seeking treatment to the country, to 750,000 patients.