23 Nov 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Korea Health Industry Development Institute (KHIDI) has signed a memorandum of agreement (MoA) for healthcare cooperation with the UAE Armed Forces on November 21, 2012.
The MoA will fuel tangible cooperation between South Korea and the UAE military in the healthcare industry. Henceforward, KHIDI will play the role of constructing the mechanism for business cooperation with the Korean medical institutions and other related institutions as well as adjusting the workload among each party to push ahead the healthcare cooperation with the UAE military.
Following the conclusion of the MoA, the UAE military is expected to begin referring their patients to four Korean medical institutions. During the early stages of the agreement, around 400 patients will receive their treatment in South Korea amounting to more than $1.8 billion (20 billion KRW) in profit.
President of KHIDI, Mr Ko Kyung-Hwa stated that, "The conclusion of the MoA is a great feat made possible over the basis of trust that was constructed through the cooperation in the healthcare industry between South Korea and the UAE during the previous year. It may also be the successful model of co-operation for the Korean Medical Industry to enter into other Middle East countries."