South Korea, United States Collaborate To Strengthen South Korea’s Health Care System Expansion In The Global Market
South Korean President Park Geun Hye visited the United States to meet President Barack Obama in October last year. President Park's visit marked her second official visit to the country as South Korea's incumbent president. Her meeting with President Obama covered a wide array of agenda including economic, health, socio-political and bilateral defense cooperation with South Korea's most valued ally, The Diplomat reported.
According to the press release issued by The Council on Foreign Relations, during President Park's state visit, a signing ceremony hosted by the Ministry of Health and Welfare (MOHW) took place. It signified the strengthened collaboration of both countries "to enhance biomedical research collaboration, personnel exchange, and training cooperation in fields of mutual interest including precision medicine and emerging infectious diseases" such as the Middle East Respiratory Syndrome Coronavirus disease (MERS-CoV). The ceremony was undertaken by the Korea National Institute of Health (KNIH) and the United States National Institutes of Health (NIH) in Maryland on Oct, 16, through a Letter of Intent.
On a particular note, the result of the activity stipulated that both countries agreed to work hand-in-hand in exploring effective funding mechanisms to combat the spread of infectious diseases such as the MERS-CoV by enhancing research activities in areas of precision medicine to "establish a sustainable medical system simultaneously."
The Ministry of Health also held a meeting with some Korean-American professionals and health and medical institutions in October to introduced efforts that would promote the advancement of South Korea's medical and health industries in the international market, The Korea Times reported.
Participants of the meeting requested for an immediate enactment of a law that would ensure the stability of medical and health business expansion within and outside Korea's area of responsibility.
As stated in the press release, "the ministry is fully committed to endeavor that Korea will stand out on the globe for attraction of cross-border patients and expansion of health and medical markets...and will continue to work to make necessary laws as early as possible."