According to Yonhap News,

On June 23, the Korea Trade-Investment Promotion Agency (KOTRA) announced that it held the "2025 Medical Korea in China" event in Qingdao, Shandong Province, China, on June 19th to support the entry of domestic healthcare and beauty companies and institutions into the Chinese market.

Co-hosted by KOTRA, the Consulate General of the Republic of Korea in Qingdao, and the Korea Health Industry Development Institute, the event featured 13 participants, including 8 medical device companies, 4 cosmetics companies, and 1 hospital, seeking to enter China's healthcare and medical market.

During the event, domestic companies held export consultations with 30 Chinese buyers and introduced Korea's digital healthcare technologies and products through a Korea-China healthcare cooperation forum and export roadshow.

KOTRA reported that companies with technologies such as dry eye treatment devices, digital TMD treatments, and AI-based anatomical solutions attracted significant interest from local buyers.

During the event, Wonkwang University Hospital signed an additional memorandum of understanding with Qingdao Municipal Hospital to expand clinical training and medical cooperation. This collaboration further strengthens the relationship between the two hospitals, following an agreement signed last year to attract foreign patients.

China's population aged 65 and older accounts for 15.6% of the total population, and the country is expected to enter a super-aged society by 2030.

Additionally, China's medical device market has been rapidly growing, expanding from CNY 600 billion (approximately KRW 115 trillion) in 2019 to CNY 1.2 trillion (approximately KRW 230 trillion) last year, doubling in size over five years.


dkkim@yna.co.kr

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Source: Yonhap News (June 23, 2024)

** This article was translated from Korean.