Updated on 21 January 2015
The Kingdom's medical device market is estimated to surpass 1.6 billion by 2018
Singapore: South Korea has agreed to export its medical technologies to the Arab Kingdom. The South Korean Ambassador in Riyadh, Mr Kim Jin-soo discussed bilateral cooperation between the two countries in a recent meeting.
Mr Jin-soo showcased the medical technology developments in South Korea and introduced a 'medical system and twinning project' an advanced medical system which aims to transfer the Korean medical environment to Saudi Arabia which will boost its health standards.
The South Korean diplomat Mr Jungho Lee, embassy spokesperson, told Arab News that the meeting was 'very positive' and discussed agendas for the government-to-government cooperation with the involvement of some private stakeholders.
The countries said that they realized the potential of the health sector and said that the twinning project will help improve the standards of health services and management in the Kingdom by allowing it to copy the technology and system of Korean medical institutions.
Korea government has always shown keen interest in improving the health scenario in the Middle East. Korea's Samsung Medical Center has signed a contract with King Fahd Medical City (KFMC) Riyadh for joint cooperation in brain research and clinical test centers.
The two countries also discussed cooperation between the Kingdom and Korea to develop medical cities across the Kingdom. The Kingdom's medical device market was estimated around 1.1 billion in 2013 and is expected to surpass 1.6 billion by 2018.