Possibility of Allowing Non-Face-to-Face Medical Care... Remote Medical Stocks Soar Together

[Asia Economy Reporter Lee Myunghwan] Stocks related to telemedicine are showing strong performance on the morning of the 18th following news that the government is considering full approval of non-face-to-face medical consultations.

As of 11 a.m. today, Insung Information is trading at 3,045 KRW, up 8.36% (235 KRW) from the previous trading day. Other telemedicine-related stocks such as Life Semantics (4.38%), Bit Computer (3.31%), and Carelabs (2.98%) are also rising together.

This is interpreted as a reaction to the news that the government is continuously reviewing a plan to permanently allow non-face-to-face medical consultations, which have been temporarily operated since the spread of COVID-19. A Ministry of Health and Welfare official stated on the 17th, "The relevant departments are broadly discussing non-face-to-face medical consultations with the medical community and civil society according to the medical agreement."

Currently, non-face-to-face medical consultations have been temporarily permitted since February 2020 to respond to the COVID-19 infectious disease. The Ministry of Health and Welfare plans to review institutionalizing non-face-to-face medical consultations based on the Medical Service Act amendment bills submitted to the National Assembly. The amendment bill related to non-face-to-face medical consultations at local clinics, proposed by Democratic Party lawmakers Kang Byung-won and Choi Hye-young, is still pending in the National Assembly.