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| August 7th, 2024 Korea Wellness News |
Welcome to our latest blog post, where we explore the exciting developments in Korea Wellness as of August 7th, 2024.
Renowned for its innovation and holistic approach, Korea Wellness continues to set the pace in the global wellness industry.
In this post, we delve into the nation's newest AI-driven health monitoring systems, offering real-time insights that empower individuals to take charge of their well-being.
We also highlight the booming Korea Wellness tourism sector, attracting global visitors eager to experience traditional Korean practices like Hanbang and modern wellness retreats.
Furthermore, we discuss the government's increased funding for mental health services, emphasizing a comprehensive approach to wellness that includes mental, physical, and emotional health.
Join us as we uncover how Korea Wellness is dedicated to enhancing the quality of life, setting a global standard.
Whether you're a wellness enthusiast, a healthcare professional, or simply curious about innovative health practices, this post provides valuable insights into the future of Korea Wellness.
Read on to discover how Korea Wellness is shaping the world of wellness today.
**Vineland Tours' summer promotion: travelling to Indonesia with wellness
With the summer holidays just around the corner, Indonesian independent travel agency Vineland Tours is offering a special promotion. The company is offering a 10% discount coupon for travellers who are not quite ready for their summer holidays, with discounts on popular tours such as Lombok's Pink Beach and Gili Nanggu snorkelling tours, Ubud's Ayung River rafting and Batur Sunset Jeep Tour. Lombok Island tours also come with a 5 per cent discount.
Bintang Tours also runs retreat tours centred around various wellness themes. The last one with BODA Pilates instructor Kang Mi-Young, scheduled to depart on 21 September, is recommended for those looking to de-stress from the holidays. "We aim to provide a healing and wellness experience with our retreat tours that depart after Chuseok," said a representative from Bintang Tour.
**The rapid growth of the wellness industry and the need to foster Korea's export industry
The global wellness industry is expected to reach $5.6 trillion in 2022 and grow at a CAGR of 8.6 per cent through 2027. North America and Europe are leading the growth, accounting for more than 60 per cent of the market. South Korea's wellness market is expected to be worth about $113 billion in 2022, ranking ninth in the world, and has grown at a CAGR of 4 per cent over the past four years.
The Korean wellness market is comprised of exercise and healthcare, traditional and complementary medicine, nutrition and diet, and beauty care, and analysts say there is high potential for export industrialisation, especially in the fields of exercise and healthcare and traditional and complementary medicine. Domestic companies are developing innovative healthcare devices and solutions using digital technology, and the Korean medicine industry is also showing high competitiveness in the West.
The Korea International Trade Institute of the Korea International Trade Association pointed out that Korean companies are still in the early stages of exporting to the global market, given the growth of the Korean wellness industry. In order to increase the international competitiveness of the wellness industry, it is necessary to promote policies in conjunction with the tourism industry, standardise standards to foster the export industry, establish relevant laws, support research and development (R&D), and provide a test bed for new technologies.
**Proposal for revitalising tourism in Asan City in connection with wellness
A plan to link national and local rivers was proposed to revitalise tourism in Asan City. On the 6th, Asan City held a report on the launch of the 'Comprehensive Tourism Development Plan and Asan Hot Spring Tourism Special Zone Promotion Plan (2024~2028) Service' at the City Hall Situation Room, and discussed various ways to revitalise tourism.
The report proposed a plan to utilise five national rivers and 40 local rivers, including Shinjeongho, in conjunction with tourism resources such as wellness hot spring healing tourism. The researchers proposed the development of wellness tourism based on the characteristics of Asan's three hot springs (Asan, Eumbong, and Dogo), as well as historical and cultural tourism and artistic ecotourism.
The city of Asan hopes to attract tourists through the creation of a local garden at Shinjeong Lake Park and the Shinjeong Lake Art Valley Kids Garden, as well as the creation of a night view and the installation of landmark sculptures. In addition, the city plans to actively utilise public competitions to build tourism infrastructure and programmes for the 2025-2026 Visit Asan Year, and to secure national and provincial funding.
"Leisure sports and wellness tourism using Asan's abundant ecological resources should be reflected in the comprehensive plan," said a city official, stressing that the service should go beyond analysing the tourism industry to identify deficiencies and present specific tasks to overcome them.
**Strategic fostering of wellness and future food industry in Yeongdeok-gun***.
Yeongdeok-gun is focusing on the wellness tourism industry as a future growth engine. Under the vision of "Yeongdeok, Korea's Wellness Capital," announced on the second anniversary of the inauguration of Kim Kwang-yeol, a strategy has been set to foster local specialised tourism and new industries. The wellness tourism industry has been highlighted as a key sector to drive regional development by utilising the strengths of local resources.
Yeongdeok-gun is making various efforts to foster the wellness tourism industry utilising its forests, seas, and cultural resources. In particular, the International Wellness Festa, held last year and this year, attracted attention by exchanging traditional medicine and wellness industries from Korea and India. These events are contributing to expanding international networks and industrial possibilities through wellness content and cultural experiences.
Yeongdeok-gun is also looking forward to creating youth jobs and addressing population issues through the K-Traditional Medicine Silk Road Project, and is strengthening research and education in the field of international traditional medicine through collaboration with Mongolia and Central Asia. The project aims to spread traditional medicine globally and will establish research and production bases in the region.
"Pre-empting the wellness market means strong competitiveness, and Yeongdeok-gun will develop original wellness content based on its natural environment," said Kim Kwang-yeol. In the future, the county plans to expand meditation experience spaces through the Goryebul National Campground and the Oriental Medicine Wellness Centre, and to build the International K Meditation Centre.
Through this strategic approach, Yeongdeok-gun plans to make wellness tourism a new growth engine for the local economy and develop into an internationally competitive tourism destination.
**SKYLABS' Cartbiphy, a ring blood pressure monitor, won the IR52 Jang Young-Sil Award for Wellness and Innovation**.
SKYLABS' CART BP, a ring-type blood pressure monitor, was awarded the IR52 Jang Young-Sil Award in 2024. The IR52 Jang Young-Sil Award is a technology award organised by the Ministry of Science and ICT and is given to companies and researchers who have developed outstanding new technologies. Kartbeepi is an innovative product that is worn on the finger to measure blood pressure 24 hours a day through a photoplethysmographic (PPG) sensor, and allows users to check blood pressure and pulse rate in real time through a Bluetooth-connected smartphone app.
Unlike conventional arm cuff blood pressure monitors, Cartbiphy is a ring-shaped cuffless continuous blood pressure monitor that allows patients to conveniently monitor their blood pressure during daily activities and sleep. The product received medical device approval from the Ministry of Food and Drug Safety in March last year, and in June, it was approved for prescription by the Korea Health Insurance Review and Assessment Service. As a result, CartBP is covered by the same health insurance benefits as existing 24-hour continuous blood pressure monitors, making it a useful tool for both patients and medical staff.
SKYLABS is working with Omron Healthcare for overseas sales and licensing, and has signed a distribution agreement with Daewoong Pharmaceutical in Korea. "We are pleased that our development efforts have been recognised," said Changwoo Choi, Vice President of R&D at SKYLABS. "As the technology is receiving positive feedback from medical staff at home and abroad, we will continue to strive to develop innovative wellness technologies."
**New horizons in wellness, 'Busan International Buddhist Expo 2024' opens on 8 August**.
The highly anticipated 'Busan International Buddhist Expo 2024' will be held for the first time at BEXCO in Busan from 8 to 11 August. The expo is expected to provide an opportunity to establish Busan as a 'K-Meditation City'. In particular, the 'AI Buddhist Music Competition', which combines traditional Buddhist art with modern technology, is attracting great attention, showing the infinite possibilities of Buddhist music.
The AI Buddhist Music Competition attracted 124 submissions, with a 41:1 competition ratio. The grand prize went to Hojin Han's "Red Bull," the second prize to Yoo Ji-ho's "Enlightenment from the Sutra of Anti-Yearning," and the third prize to Seo Woo Park's "Sutta-loid. The winning films will be made available to the public for free at the fair and on the official website.
During the fair, there will be 'special exhibitions' and 'meditation experience zones' centred on meditation content. In addition, there will be one-day classes to give visitors a chance to experience meditation, and a variety of Buddhist-related activities will be available for free. The event will also include a Buddhist DJ party, a chanting stage, and performances by the Zen Meditation Project Group, providing a diverse experience for many visitors.
The Busan International Buddhist Fair is expected to explore new possibilities of Buddhism through wellness content that encompasses tradition and modernity, and contribute to the development of Busan as a centre of Buddhist culture. For more information, please visit the official website at www.busanbexpo.kr.
**Convergence of Wellness and Tourism, Busan's Suyeong-gu Tourism Corridor Selects 5 Resident Businesses***.
Suyeong-gu, Busan, announced today that five resident businesses have been selected as the winners of the '2024 Residents' Business Competition' organised by the Ministry of Culture, Sports and Tourism and the Korea Tourism Organization. The contest is a policy project to support tourism businesses run by local residents, and the selected businesses will receive up to 110 million won in support and tailored mentoring for five years.
The selected businesses are ▲Gwanganhaeng (SUP wellness experience), ▲The,Place (Decathlon tour), ▲Soongsung Martial Arts Village (Sugun martial arts experience and tour), ▲K Beauty Holic (K-beauty direct and indirect experience), ▲DoodooDee Books Cooperative (convergence of reading and marine leisure). They will open up new possibilities for local tourism by providing wellness experiences, cultural tours, traditional martial arts experiences, beauty experiences, and contents that combine reading and marine leisure, respectively.
Regarding wellness, 'Gwanganhaeng' provides health and leisure activities that make use of local characteristics through SUP wellness experiences, which is expected to contribute to the revitalisation of wellness tourism in the Busan area.
In addition, the selected businesses will receive professional support through tailored mentoring from Tourism Doore PD and develop various tourism contents that make use of local characteristics.
**Wellness and Certification: Life Transition for Women in Their 60s
Women in their 60s and beyond can also transform their lives by earning certifications. Recently, 68-year-old Han Hwa-sook earned 58 certifications and is living a new life. After retiring from her job as a garment saleswoman, she found rejuvenation by earning certifications and is now enjoying a second life as a volunteer at senior centres and welfare centres.
In addition to personal satisfaction, earning a certification can have financial benefits. For example, Han Hwa-sook, who runs a tarot shop, used her certification to increase her sales. The government supports the cost of vocational training through the National Learning Card and the NCS scheme, which makes it possible for many people to obtain a qualification. In particular, middle-aged women can take on new careers with promising qualifications such as caregiver.
Healthcare, artificial intelligence, mental health, and environmental qualifications are also promising in preparation for an ultra-elderly society. By obtaining a qualification, you can meet social needs and have a stable retirement. Information on qualifications can be found on HRD-net and private qualification information services.
By obtaining a qualification, you can find new opportunities related to wellness and improve your quality of life.
**Wellness and Korean medicine: Why Korean traditional medicine is gaining traction in the global marketplace**.
With the rise of the wellness industry, Korea's traditional Korean medicine sector is gaining traction. According to a report by the Korea International Trade Association, 'Analysis of Global Wellness Industry Growth and Promising Export Sectors in Korea', the wellness industry is an integrated healthcare sector that combines traditional values and modern technology, and is growing every year. In 2022, it was worth $5.6 trillion, equivalent to 5.6 per cent of global GDP, and is expected to grow at an average annual rate of 8.6 per cent by 2027.
The Chinese medicine industry in particular aligns with the core concept of wellness, as it blends traditional medicine with modern technology. Through holistic and preventative care, herbal medicines have the advantage of encouraging consumers to take an active role in their health and utilise natural resources. The Korean herbal medicine industry has a strong historical foundation and modern research infrastructure, making it a strong competitor in the global market.
According to the report, the Korean herbal medicine sector needs to secure standardised product lines and prove its efficacy to become the next promising export industry. In particular, the demand for traditional and complementary medicine has been surging since the pandemic, and the global market is recovering and growing rapidly.
In order for Korean herbal medicine to succeed in the global market, policies such as standardisation support, legal framework, R&D support, and finding overseas markets are needed. The government and related organisations need to support the development of Korean medicine and digital wellness as export industries.
**Wellness and marine healing industry: Wando County wins excellence award at manifesto contest***.
Wando-gun, Jeollanam-do, has won the Excellence Award for Improving Jobs and Employment Environment at the 2024 National Manifesto Contest for Local Governments. The contest is held annually to discover and spread best practices among local governments' commitments and policies, and this year, 186 out of 353 cases nationwide advanced to the main round.
Wando County made a presentation under the theme of "Creating jobs in the new marine industry of the future! It starts in Wando!" and introduced examples of job creation and improvement of the employment environment through the training of marine healing specialists and the training of leaders for the marine climate healing programme. In particular, it was noted that more than 40,000 people have visited the marine healing centre since its opening, raising its status as a wellness tourist destination.
Specifically, Wando-gun has expanded opportunities for social participation among the elderly by training marine healing commentators; revitalised life sports by training instructors for marine climate healing programmes; secured professional and sustainable public jobs by launching a marine healing management corporation; and improved work efficiency by establishing an AI-based marine healing facility operation system. These efforts were highly recognised for improving the employment environment and ranked second among local government units nationwide.
"With the opening of the marine therapy centre, we are establishing ourselves as a regional wellness tourism destination," said Wando County Governor Shin Woo-cheol. "We will lead the development of the region by linking the marine therapy industry with the medical, tourism, and bio industries to create more than 30,000 jobs and income." Wando-gun is also positioning itself as a centre for the marine healing industry, having received the highest rating in the evaluation of the fulfilment of the pledges made by the heads of basic organizations in the 8th civil election, winning five awards in the field of marine healing.
**Wellness and Mobile Blood Glucose Management: Kakao Health and WeaverCare Collaborate to Strengthen Healthcare Expertise***.
Kakao Healthcare has entered into a strategic partnership with WeaverCare, an electronic medical information system (EMR) company, to enhance the expertise of its mobile blood glucose management service. The collaboration aims to improve access to healthcare and enhance healthcare services by linking Kakao Healthcare's mobile blood glucose management service 'PASTA' with WeaverCare's cloud-based EMR solution 'Dr Palette'.
PASTA provides real-time blood glucose data through a continuous glucose monitor (CGM) and provides personalised guidance by analysing the relationship between the user's lifestyle and blood glucose. Kakao Healthcare is focusing on strengthening wellness solutions for the general population, not just diabetes management.
WeaverCare's 'Dr Palette' is a cloud EMR solution that overcomes the limitations of existing EMR systems and contributes to improving hospital management efficiency. Through this collaboration, Dr Palette will integrate blood glucose measurement data from Pasta into the EMR system used by medical staff to provide users with better healthcare services.
The collaboration also relates to innovative treatments in the field of wellness, such as obesity treatments. As obesity drugs have similar mechanisms to diabetes drugs and the importance of blood glucose measurement is increasing, the collaboration is expected to have a significant impact on the future expansion of the wellness market.
"The collaboration between Kakao Healthcare and WeaverCare will have great synergy in pursuing 'patient-centred medical services' and wellness life that takes into account consumers who want to maintain a healthy life," said an industry insider.
**Wellness and Hand Fans: 1st Korea Hand Fan Festival to be held on 11 September at the Seoul Cultural Complex***.
The inaugural Korea Hand Fan Festival will take place on 11 September at the Cultural Reserve Base in Mapo-gu, Seoul. The festival will showcase the intersection of wellness and the handpan, offering a variety of wellness programmes alongside the charming sounds of the handpan.
The festival will feature some of the country's top handpan artists, and the first line-up announced includes Jin Sung Jin, Mi-ran Joo, Jeonghoon Hyun, chandraA, and Ha Taek-hoo. Other programmes include an exhibition of works by Yooji Kim, who will present motion-interactive works based on traditional tanka painting, yoga and meditation classes with soundbath master Rachel and yoga teacher ChandraA, and handpan workshops.
The handpan is an instrument first created in Switzerland in 2000, and is now often used in meditation and wellness programmes for its soothing and mystical sound. The festival aims to introduce the instrument to Korea and provide 'pause' and relaxation for modern people.
Tickets will be available from 11 August via Tumblebuck's official website, and more information can be found on the official Handpan Korea website.
**Wellness and Landscaping: HDC Resorts Acquires HDC Labs Landscape Business to Enhance Sustainable Corporate Value
HDC Resorts has acquired the landscaping business of HDC Labs to enhance its sustainable corporate value. On 6 August, HDC Resorts announced today that it has signed an agreement with HDC Labs to acquire its landscaping business. Through this acquisition, HDC Resorts will expand its existing landscape construction capabilities to golf course-specific construction, and focus on developing sustainable forest content and smart golf course management.
HDC Resorts will expand its existing forestry business with Wonju, Gangwon-do, and focus on producing superior trees and incorporating new digital technologies. With the acquisition, HDC Resorts, which currently owns premium golf courses such as Oak Valley and Seongmunan CC, will further strengthen its landscape technology and golf course development capabilities.
"HDC Resorts will focus on enhancing future corporate value and improving business quality by fusing golf course operation know-how and digital landscape technology resources," said Cho Young-hwan, CEO of HDC Resorts. With this acquisition, HDC Resorts expects new synergies that combine wellness and landscaping, and aims to grow the landscaping business into a major revenue stream in the future.
**Wellness and Declining Birthrate: Gyeongsangbuk-do Launches Happy Family Travelling Product**.
Gyeongsangbuk-do has launched a new 'Gyeongsangbuk-do Happy Family Travelling' product to tackle the low birth rate. The product is aimed at mothers and fathers and families with three or more children, and provides a customised trip that combines wellness resources and tourism content in Gyeongsangbuk-do.
The Gyeongsangbuk-do Happiness Family Trip is available in day trips (worth KRW 200,000) and overnight trips (worth KRW 300,000), with wellness-focused trips for honeymooners, gourmet food and forest healing for pregnant women, and healing camps for families with three or more children. The programme is open to all newlyweds, pregnant women, and families with three or more children living in Gyeongsangbuk-do.
Gyeongsangbuk-do has been promoting the programme in earnest since April, when it devised a basic plan, selected eight dedicated management companies in June, and established an online page in July. The first applications will be available from 12 August through the Gyeongsangbuk-do tourism integrated platform Tour054, and for more information, contact the Gyeongsangbuk-do Tourism Association.
"Comprehensive measures are needed in various fields to solve the problem of low birthrate," said Kim Sang-chul, director of the Gyeongsangbuk-do Culture, Tourism and Sports Bureau. "We will contribute to overcoming the low birthrate through this travel product and achieve tangible results by continuing to promote the project."
**Wellness and smartness: the new battle in the healthcare market**.
With the popularisation of smartwatches and smartbands, smartrings are gaining traction in the healthcare market. Samsung Electronics' entry into the smartwatch market with the launch of the Galaxy Ring has attracted a lot of attention. Aurora, an existing smartwatch leader, is preparing its fourth-generation product, and Korean SME Sky Labs is attracting attention with its blood pressure monitor smartwatch called 'Cart Biffy'.
SKYLABS' Kart BP is the only medical device approved by the Ministry of Food and Drug Safety in Korea that provides 24-hour blood pressure measurement and lifestyle improvement tracking. The product was recently approved for health insurance benefits by the National Health Insurance Review and Assessment Service, providing the same insurance benefits as conventional blood pressure monitors. The company has also signed an MOU to expand sales in overseas markets.
Samsung is targeting the wellness market with the Galaxy Ring, which will provide functions such as sleep, respiration rate, and heart rate measurement. The Galaxy Ring will work with Samsung's Galaxy AI to suggest personalised healthcare services. The global smart ring market is expected to grow at a CAGR of 25.4% from $147.1 million in 2022 to reach $1.45 billion by 2032.
The market is highly competitive with a wide range of players. Indian company Ultrahuman and Chinese companies Amazfit and Xiaomi have entered the market with atrial fibrillation detection, health metrics measurement, and smartwatches, respectively. Apple has filed a related patent, but rumours of an Apple Watch launch are still abundant.
Smartring has emerged as a new icon in the wellness and healthcare market, offering personalised healthcare solutions.
**Wellness and Beauty Market in Southeast Asia: Mintel Unveils Opportunities at Incosmetics Korea 2024***.
Mintel unveiled its wellness strategy for the Southeast Asian beauty market at Incosmetics Korea 2024. The presentation included an analysis of the beauty consumer in Southeast Asia and outlined three opportunity pillars centred on functionality, post-procedure skincare and wellness support.
Kinsen Chan, Senior Analyst, Beauty & Personal Care, Southeast Asia, Mintel, highlighted that consumers in Southeast Asia have a strong interest in functional products. In Thailand, 77 per cent of consumers demand scientific evidence to prove functionality, such as anti-wrinkle, which is important for brand credibility and effective image building, he said.
In addition, there is a shift in perceptions of cosmetic procedures in Southeast Asia, and there is significant market potential for products that help the skin recover after a procedure. In particular, 55 per cent of Indonesian women say they are accepting of non-invasive cosmetic procedures, which is driving demand for post-procedure skincare products.
Mintel said that young female consumers in Southeast Asia are paying attention to stress management and sleep management. Indonesian women associate sleep deprivation with stress and skin concerns, and beauty brands can leverage Southeast Asian herbal ingredients to offer innovative products around wellness.
Highlighting the complexity and cultural diversity of the Southeast Asian market, Jonghyun Baek, Country Manager of Mintel Korea, said that Mintel plans to provide more Southeast Asia-focused content and seminars in the future, using its internal data and expertise.
**Mintel Reveals How to Target Wellness and Beauty Consumers in Southeast Asia
Global market research firm Mintel recently revealed how to target beauty consumers in Southeast Asia at Incosmetics Korea 2024, held at COEX in Seoul. Mintel's seminar revealed the top three opportunity factors for beauty consumers in Southeast Asia.
KinShen Chan, Senior Analyst, Beauty & Personal Care, Southeast Asia, Mintel, said that Southeast Asian consumers are highly interested in functional products. In particular, 77 per cent of Thai consumers demand scientific evidence to back up beauty product claims. As a result, beauty brands need to emphasise the efficacy of their ingredients and build trust through science-based products.
Consumers in Southeast Asia are also interested in products that help their skin recover after cosmetic procedures. In Indonesia in particular, 55% of female consumers embrace non-invasive procedures, and the post-procedure skincare market has huge growth potential.
Finally, young female consumers in Southeast Asia are focusing on stress management and sleep management. According to Infegy's social listening data, Indonesian women link sleep deprivation to stress and skin problems. As a result, beauty brands need to connect with local consumers through products that utilise herbal ingredients from Southeast Asia and offer innovative products that fuse traditional medicine with modern beauty.
"Southeast Asia is a market with diverse languages and cultures, which requires detailed local information," said Jonghyun Baek, Country Manager of Mintel Korea. "Mintel will continue to provide useful data and seminars targeting the Southeast Asian market."
**'Gochang's Forests and Sounds' Healing Journey with Wellness Recruitment***.
Gochang Culture & Tourism Foundation is recruiting participants for 'Healing Journey - Forests and Sounds of Gochang', a wellness programme that utilises the natural and cultural resources of Gochang, a UNESCO Biosphere Reserve. The Fam Tour will take place on 24 August 2024 and will include a variety of wellness activities, including a Gochang Biosphere Storyteller, a tour of Gochang Eupseong Castle, a pansori experience, and a forest healing programme. Participation is free of charge.
To be eligible to participate, social media users aged 19 or older who live in Gochang-gun or elsewhere must meet one of the following conditions: 300 Instagram followers, 300 Facebook friends, 150 blog neighbours, or 100 YouTube subscribers. After the tour, participants must post a review of the tour on social media, and there are 10 teams (30 participants) in total. Applications can be made on the Gochang Culture & Tourism Foundation's website at open square announcement.
"We hope that many people will feel the charm of the region through Gochang's wellness programme," said Ahn Jong-sun, executive director of the Gochang Culture & Tourism Foundation.