The Ministry of Trade, Industry and Energy in a February 9 meeting with companies in the bio-healthcare industry outlined its goal to push South Korea’s 1.8 percent market share to 4 percent by 2022 and create 35,000 jobs. (Image: Yonhap)
SEOUL, Feb. 12 (Korea Bizwire) – The Ministry of Trade, Industry and Energy in a February 9 meeting with companies in the bio-healthcare industry outlined its goal to push South Korea’s 1.8 percent market share to 4 percent by 2022 and create 35,000 jobs.
To accomplish these two goals, the ministry will select six hospitals and create a “secure bio big data” system from 10 million electronic medical records.
The plan for the big data system is to use it for the development of new medicines and for preventative measures for major illnesses.
By continuously monitoring the health status of seniors and patients suffering from chronic illnesses (using blood pressure, blood sugar figures and other data), the ministry will trial technology that in theory could predict the onset of symptoms.
To accomplish these two goals, the ministry will select six hospitals and create a “secure bio big data” system from 10 million electronic medical records. (Image: Yonhap)
For privacy reasons, rather than handing over the data to private companies, the hospitals will conduct their own data analysis of the electronic medical records.
Minister Baek Woon-gyu said, “The big data that our country possesses is world class. With the world’s greatest hospital information database system as a foundation, the massive quantity of electronic medical data accumulated is the envy of the globe.”
Also in consideration are ways to tie in healthcare with at first blush unrelated industries such as cars, communications, cosmetics, and so on.
One example of what such an uncanny combination entails is a health status reader built into a car that triggers a 119 emergency response call when unusual or problematic signs are detected.
Other plans laid out are “Global Biostar” to boost production of new medicines, “Personalized Medical Equipment” aiming for the convergence of multiple technologies to fashion new healthcare devices and “Healthcare Smart City Test Project” to create a comprehensive health maintenance package incorporating personal health records as well as other environmental factors such as weather conditions.
Representatives from hospitals and firms from the healthcare sector were in attendance at the meeting.
Kevin Lee (kevinlee@koreabizwire.com)
