Korea is emerging as a new leader on the global healthcare market through quality services, advanced medical technologies, relatively affordable medical costs, fast and efficient diagnostics and therapeutic services, cutting-edge hardware and IT-based infrastructure.
In 2015, Korea was recognized as the third-largest market for
plastic surgery in the world, next only to the United States and Brazil.
The Korean plastic surgery market is estimated to be KRW 5 trillion in
annual value, making up almost 25 percent of the entire global market value,
estimated at KRW 21 trillion.
- With 650,000 operations performed annually, Korea is ranked in the seventh place in terms of the absolute number of plastic surgery operations performed each year, as opposed to the United States where plastic surgery is most frequently performed (3,110,000 annually). When these numbers are converted into the per-population ratio, however, the rankings are reversed.
- With 13.5 plastic surgery operations performed for every 1,000, Korea tops the rankings, followed by Greece (12.5 per 1,000), Italy (11.6 per 1,000), and the United States (9.9 per 1,000).
- There is growing interest worldwide in tooth whitening, orthodontics, and double jaw (orthognathic) surgery.
- Korea is famous worldwide for its topnotch cosmetic dentistry.
- Korean cosmetic dentistry businesses are rapidly increasing their share of the global market, and already boast a 40-percent combined share of the Chinese market.
- Traditional medicine in Korea has its own treatments, hospitals and prescriptions that is comparable with western medicine. The World Health Organization (WHO) has recognized hanbang, or traditional Korean medicine, as valid medicine.
- Traditional Korean medicine involves identifying the physical constitution of each patient, and finding the right (customized) care and prescription accordingly. Traditional Korean medicine also prefers more natural treatments, such as herbal medicines, acupuncture, and moxibustion, over artificial drug regimens of antibiotics and painkillers.
- K-pop, K-beauty, and K-fashion are emerging as hot trends in many countries worldwide today and Korean pop culture is spreading rapidly across the globe.
- Thanks to Korean TV series, movies and beauty products, the number of international medical tourists visiting Korea for beauty and traditional medicine treatment or experience has been on steady rise.