Gangwon Ranks Second Nationwide in Medical Device Exports
Governor Jintae Kim Presents Vision for "Medical AX" On Site
Concerns Raised Over Unreasonable Price Regulations
Jintae Kim, Governor of Gangwon Special Self-Governing Province, visited the medical device manufacturing plant (Inseong Medical, CEO Son Ingeum) in Wonju Enterprise City on the 30th, continuing his on-site activities for the December "Among the Residents" campaign.
Kim Jintae, Governor of Gangwon Special Self-Governing Province, visited the medical device manufacturing plant (Inseong Medical, CEO Son Ingeum) in Wonju Enterprise City on the 30th, continuing his on-site activities for the "Into the Province" campaign in December. Provided by Gangwon Province
The medical device industry in the province recorded exports of 1.02 trillion won last year, ranking second nationwide, and production performance of 1.0657 trillion won, ranking fourth nationwide. It has grown into a core industry leading South Korea's digital healthcare sector.
In particular, since the 1990s, when there was virtually no industrial base in Wonju, the city has accumulated capabilities for over 30 years by establishing a collaborative system among the provincial government, universities, companies, and hospitals. As a result, it has become the nation’s representative hub for medical device manufacturing and digital healthcare technology development.
Governor Kim received a briefing from an official of the Wonju Medical Device Industry Promotion Foundation on the current status of the medical device industry and future development tasks.
Governor Kim stated, "Last year, 188 medical device companies based in Gangwon Province surpassed Seoul, which has 960 companies clustered together, to achieve the second highest medical device exports nationwide (1.02 trillion won in exports). Thanks to the entrepreneurs and workers who have quietly operated their businesses, medical devices have become a signature industry for the province," he said, offering words of encouragement.
He continued, "Starting next year, we will actively promote the 580 billion won medical AX industry, focusing on fostering the AI-based medical device sector. In line with the national policy of nurturing advanced medical convergence industries, we will do our utmost to ensure that Wonju is additionally designated as an advanced medical convergence complex."
Currently, projects to strengthen the foundation for the medical AX industry, such as the establishment of a "Medical AX Industry Demonstration Hub" and a "Digital Healthcare-Based AI Convergence Innovation Education Hub," with a total project cost of 70 billion won, have been included in next year's budget. In addition, 1 billion won in planning funds has been secured to further detail the execution plan for the 580 billion won industry.
Afterward, Governor Kim toured the production plant and personally participated in the assembly and packaging process of the main product, the infusion set.
The infusion set is a representative medical device used to administer drugs or blood into the body. Most of the processes, such as joining and assembling its 11 components one by one, are performed manually.
During the on-site experience, Governor Kim also listened to the challenges faced by the company.
Son Ingeum, CEO of Inseong Medical, said, "The production cost of an infusion tube is 500 won, but the selling price is 320 won. The reimbursement rate, set about 50 years ago, remains unchanged, placing a burden on business operations."
In response, Governor Kim stated, "Price regulations that do not reflect reality are a matter of business survival. As the province is operating the nation's first business ombudsman system to actively resolve unreasonable regulations, we will continue to consult with relevant ministries to improve the situation."
Finally, Governor Kim had lunch with the workers in the company cafeteria, exchanging New Year's greetings and continuing his communication efforts.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
