KOTRA Supports 'Product + Service' Package-Type K-Quarantine Export Business

[Asia Economy Reporter Su-yeon Woo] As countries with high vaccination rates are introducing 'With Corona' policies, KOTRA is promoting an export support project for K-quarantine package-type services that add services to COVID-19 diagnostic devices.

KOTRA announced on the 17th that the COVID-19 diagnostic agency service between domestic diagnostic service specialized medical institution Company A and global airline service company Company B, which signed a contract in June, will officially start service from the 18th of this month.

As the global quarantine market rapidly grew due to COVID-19, the export of quarantine supplies by Korean companies also showed a growth rate of 268% compared to 2019 before COVID-19, reaching $6.4 billion in 2020. However, for products such as masks and hand sanitizers, which have little technological gap, export destination countries are promoting self-supply through domestic production, acting as a factor slowing down our exports.

In response, KOTRA has been striving to develop customized projects to meet overseas demand with the K-quarantine package that incorporates national quarantine systems and know-how. This contract aims to target overseas travelers, which will surge with the 'With Corona' policy, by providing COVID-19 testing and result notification services within 24 hours to passengers entering Singapore from Korea.

Passengers will be able to make COVID-19 test reservations online at the same time as issuing their airline tickets. This also reduces the hassle of searching for and booking testing centers. Additionally, test results will be provided online to passengers, eliminating the need to revisit the testing center to receive the test report.

The chief medical officer of Company A, the domestic diagnostic service specialized medical institution leading this project, said, "The various experiences and know-how Korean companies have in COVID-19 diagnostics were the main factors in deciding to cooperate," and added, "We hope the service will expand from the Korea-Singapore route to major global hub routes."

Global airline service company Company B cited the excellent quality of Korean companies, the know-how of successful quarantine systems, and the close support of KOTRA Melbourne Trade Center, which led smooth communication from discovering domestic companies to the Korea-Australia-Singapore route, as key factors for the project's success.

KIM Sang-mook, Head of KOTRA Innovation Growth Headquarters, said, "With the 'Korea-Singapore Travel Safe Corridor and Mutual Recognition of Vaccination Certificates Agreement' coming into effect on November 15, the number of travelers to Singapore is expected to increase," and added, "Package-type export products utilizing the K-quarantine brand can be a new alternative for exporting our quarantine products."