Seoul Baek Hospital's Cumulative Deficit Reaches 170 Billion Won... Steps Toward Closure After 82 Years

Seoul Baek Hospital of Inje University, located in Jung-gu, Seoul, is set to close after 82 years since its opening.

Seoul Baik Hospital / Photo by Hyunmin Kim kimhyun81@

According to industry sources on the 5th, Seoul Baek Hospital plans to hold a board meeting on the 20th to approve the closure plan decided by the Seoul Baek Hospital Management Normalization Task Force (TF).

The closure of Baek Hospital is due to accumulated deficits over 20 years. As of this year, Seoul Baek Hospital's cumulative deficit amounts to approximately 174.5 billion KRW. To overcome financial difficulties, Seoul Baek Hospital has operated the Management Normalization TF since 2016. Subsequently, the number of hospital beds was reduced from 276 in 2017 to 122. To cut labor costs, it was converted into an intern training hospital and did not accept specialists (residents). Additionally, the wards were remodeled with annual investments of 3 to 5 billion KRW.

Even if Seoul Baek Hospital closes, nearly 400 employees are expected to be transferred to other hospitals within the Inje Academy foundation. Inje Academy operates other hospitals including Sangye, Ilsan, Busan, and Haeundae hospitals besides Seoul Baek Hospital.

Seoul Baek Hospital was opened in 1941 under the name 'Baek Inje Surgical Hospital' and has been in operation for 82 years.