SEOUL, Apr. 9 (Korea Bizwire) – In 2021, South Koreans bore an average of 960,000 won in annual out-of-pocket healthcare expenses, a significant figure that highlights the personal financial impact of accessing medical services. This data was unveiled in the “2021 Korea Health Panel Basic Analysis Report (II)” jointly released by the National Health Insurance Service [...]
SEOUL, Jun. 30 (Korea Bizwire) — Approximately 2 million Koreans received medical treatment following car accidents last year, with the total medical costs paid out by car insurance companies amounting to approximately 1.7 trillion won. Of those requiring medical care, 6 out of 10 were diagnosed with neck injuries. The average medical cost per person [...]
SEOUL, May 4 (Korea Bizwire) – The latest data from the National Health Insurance Corporation has revealed that South Korea may have to spend over 90 trillion won ($79.5 billion) annually by 2030 – when the baby boomers (born 1955 to 1963) enter their old age – on health care for seniors. According to the [...]
SEOUL, July 6 (Korea Bizwire) – Starting next year, foreign laborers in Korea will no longer benefit from a policy that allowed them to receive medical treatment for free, and will instead have to pay 20 percent of the total expense. Laborers with foreign citizenship used to receive up to 10 million won ($8,500) for their [...]