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| August 8th, 2024 Korea Wellness News |
Welcome to our latest blog post, where we explore the exciting developments in Korea Wellness as of August 8th, 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.
**Global Wellness Industry Growth and Korea's Export Opportunities
The global wellness industry is growing rapidly, and the Korean wellness industry is also experiencing stable growth. According to a report by the International Trade Institute of the Korea International Trade Association, the global wellness market, valued at $5.6 trillion in 2022, is expected to expand to $8.5 trillion by 2027. This represents a compound annual growth rate of 8.6 per cent and accounts for more than half of global healthcare spending. The wellness industry focuses on preventative healthcare rather than treating illness, and consumer demand continues to grow.
The global wellness market is dominated by North America and Europe, with North America accounting for 34% of the market. Asia-Pacific accounts for 30 per cent, Europe 26 per cent, and the Middle East and North Africa 3 per cent. The North American market has a per capita wellness spend of $5108, which is significantly higher than the global average. The domestic wellness industry is expected to be the ninth-largest in the world in 2022, with an estimated $113 billion, with major sectors including exercise and healthcare, traditional and complementary medicine, nutrition and diet, and beauty care.
Korea's wellness industry is growing as a manufacturing sector, and is particularly competitive in digital healthcare and traditional and complementary medicine. Digital healthcare has played an important role during the pandemic, while TCM has seen significant growth in the North American market. Domestic companies are still in the early stages of exporting, and relevant legislation and supportive policies are needed to expand the global market for the wellness industry.
**Chuseok with Wellness, Convenience Store Gift Sets to Offer Value for Money** Daejeon, Korea
A month ahead of Chuseok, the convenience store industry has begun to compete by introducing various gift sets that reflect the wellness trend. The main keyword of this year's Chuseok gift sets is 'cost-effectiveness', and convenience stores are focusing on securing customers through practical gifts and differentiated benefits.
GS25 offers a total of 760 festive gift sets under the theme of 'our neighbourhood gift shop' and has prepared a wide range of products ranging from 10,000 won to 100,000 won. Products in a wide range of categories such as fruits, Korean beef, alcoholic beverages, and electronic devices are available at a good value, while ultra-expensive limited edition products and products linked to the subscription economy are also available to target premium customers.
CU sells a total of 700 Chuseok gift sets, including locomotive products in partnership with local restaurants, wellness products in large quantities, and cost-effective products. It offers a wide range of products including meat, seafood, and local speciality liquor, and will also offer a 20 per cent in-store discount when paying with a BC card, as well as up to 30 additional free gifts. Pocket CU home delivery service is also available for online shoppers.
E-Mart 24 is offering discounts on 16 value-for-money gift sets ranging from 20,000 won to 70,000 won, with delivery benefits such as free home delivery. The company plans to reduce the burden on customers by increasing the proportion of cost-effective gift sets under 50,000 won by 10 per cent compared to last year's Lunar New Year holidays.
7-Eleven will strengthen its line-up of mid- to low-priced products in the 30,000 to 50,000 won range, and select products with good value for money and topicality. It will also offer a 10 per cent discount when paying with Kakao Pay and 1+1 or 2+1 offers during the pre-event period, and will introduce a variety of fruits and vegetables to stabilise prices.
Convenience stores are also increasing their competitiveness this Chuseok with gift sets that reflect the diverse needs of consumers, focusing on wellness and cost-effectiveness.
**Wellness and a leap into the future, a new vision for Gunwigun, Daegu
On the second anniversary of his eighth term in office, Kim Jin-yeol, the mayor of Gunwigun, Daegu, is promoting various projects related to wellness for the future of Gunwigun. Through the construction of Daegu-Gyeongbuk New Airport and large-scale urban development projects, Gungwi-gun is leaping forward as a city of the future and realising policies that prioritise the happiness of its citizens.
Through large-scale development projects such as high-tech industrial complexes and recreational complexes, Gunwi-gun is laying the foundation to become a global new growth city centred on the new airport. In particular, it is promoting the expansion of the new airport railway and transport network to increase accessibility to Daegu city centre. In addition, it is significantly improving the childcare and education environment through the creation of the 'I Love Nursery' and various educational support policies, and creating conditions for young people to settle down through youth policies.
Reflecting the trend of wellness tourism, Gunwi-gun is developing healing and stay-type tourism contents that utilise the region's unique nature and culture. It is enhancing the attractiveness of Gunwi through cultural resources related to the Three Kingdoms and various tourist destinations, and is also striving to develop festivals based on resident participation.
Going forward, Kim Jin-yeol plans to focus on balanced development and building a close-knit living infrastructure by actively reflecting the opinions of the county's residents. Through this, Gunwigun will grow into a central city in Daegu-gyeongbuk, and leap into a luxury city where both civilians and residents are happy.
**Busan International Buddhist Expo, the centre of wellness and K-meditation, to be held**.
The 1st Busan International Buddhist Fair will be held in Busan from the 8th to the 11th at BEXCO Exhibition Centre 1. Under the slogan 'Busan, the Centre of K-Meditation', the fair will focus on wellness and meditation culture. It is co-hosted and organised by BBS Busan Buddhist Broadcasting and Buddhist Newspaper, and aims to leapfrog into a global wellness city through Busan's unique MICE industry.
The event consists of various exhibitions and experience programmes, including a Zen and meditation exhibition, Buddhist crafts and culture exhibition, artisan workshop, and overseas exchange exhibition. The opening ceremony will be attended by more than 500 people from the Buddhist community, including Busan Mayor Park Hyung-joon, and will feature an EDM DJ party by NewJinx and a chanting performance by Kwanseo Hyun Bodhisattva, in an attempt to move beyond the traditional image of Buddhist culture and appeal to the younger generation of 2030.
Busan is a centre of Buddhist culture with many millennia of contemplation, and the fair is expected to attract more than 30,000 visitors in total, including 20,000 pre-booked. Mayor Park Hyung-joon said that the event will utilise Busan's Buddhist cultural resources to provide healing and festive opportunities for citizens and tourists, and will also provide an opportunity for Busan to lead the way in wellness and K-meditation content.
**Special support from the Forestry and Greenery Department of Milyang City for wellness and citizen inconvenience relief
The Forest and Greenery Department of Milyang City is attracting attention for its use of forest fire extinguishing vehicles to promote wellness and reduce inconvenience to citizens. Sammun-dong Public Playground is a nature-friendly barefoot walking (ushing) spot, and many citizens enjoy their health and wellness here. However, due to the recent heat wave, the playground mats became excessively hot, and citizens wanted a cooler exercise environment.
Councilor Hee-Jung Jung requested the road management department to spray water, but it didn't work, so Park Young-Hoon, head of the Forest and Greenery Division, took matters into his own hands. Park decided to use a forest fire control vehicle to spray water on the playground, and he started spraying with three staff members at 6pm on the 7th. As a result, citizens were able to enjoy a cooler exercise environment and expressed their gratitude.
Park Young-hoon said, "It was difficult to water perfectly due to the nature of the forest fire control vehicle, but we will do our best to satisfy the citizens," and expressed his opinion that he is fulfilling his responsibilities as a public servant. This support is an example of Milyang City's proactive administration that considers the well-being and inconvenience of citizens as its top priority, and has been praised by many citizens.
**Uijeongbu City's future city strategy of wellness and attracting companies***.
Uijeongbu City is celebrating the second anniversary of its eighth civil election with the theme 'Uijeongbu City, Changing My Life, Two Years of Change', sharing its achievements and vision in various fields with citizens. The fourth of these presentations is 'Uijeongbu, a city that is good for business', which introduces the city's strategy for attracting businesses and developing a city centred on wellness.
Uijeongbu City established a 'Corporate Attraction Team' shortly after the start of the 8th civil election, and has attracted five major companies through active sales activities. The first company to sign an investment agreement was a cloud data centre, the second was LH Gyeonggi North Regional Headquarters, the third was Biogan Solution, the fourth was Uijeongbu Nonghyup Agricultural Cooperative Complex Cultural Facility, and the fifth was Sigibio.
Mayor Kim Dong-geun emphasises that attracting companies creates a virtuous cycle of urban growth, explaining that high-quality jobs lead to increased city income, which in turn leads to improved infrastructure and a better environment to live in. Uijeongbu City is creating an environment where both businesses and citizens can be satisfied through deregulation and various urban development efforts.
In particular, Uijeongbu is planning to foster the 'wellness tech industry'. Wellness tech is a cutting-edge industry that promotes individual health and well-being, and the city plans to attract related companies in seven development review sites, including Camp Jackson, Dobong Vehicle Base, Sanggye and Jangam Districts. Various projects are planned, including a digital healthcare complex hub, human care robot valley, and smart care residences, as flagship industries tailored to the characteristics of each area.
In addition, Yonghyeon Industrial Complex will be reorganised into a high-tech industrial complex. In order to transform the aging Yonghyeon Industrial Complex into a vibrant industrial complex where young people and new industries gather, the city is investing KRW 76 billion to build innovative infrastructure. In particular, it plans to ease building regulations by revising the Cultural Property Protection Ordinance and enhance its competitiveness as a future high-tech industrial complex.
Through these wellness and business attraction strategies, Uijeongbu City is continuously striving to accelerate the development of the city and provide a better quality of life for its citizens.
**2024 Wellness Fair, a meeting of wellness and healing, to be held at Seoul Plaza**.
The 2024 Wellness Fair will be held at Seoul Plaza from the 13th to the 14th of this month. The event will provide a place for healing and wellness to soothe the body and mind exhausted by the record-breaking heat. A total of 30 organisations from the central government, including the Ministry of Health and Welfare, Ministry of Oceans and Fisheries, and Korea Forest Service, as well as local governments such as Seoul, Busan, Daegu, Gangwon Special Self-Governing Province, Jeollanam-do, Jeonbuk-do, Gyeongsangbuk-do, Paju-si, and Asan-si, as well as related organisations and associations, will participate, showcasing over 100 promotional and experience booths.
This year's Wellness Fair is themed around 'healing' and offers a variety of wellness tourism and medical tourism, marine healing, forest healing, and more. Visitors will be able to participate in hands-on programmes that go beyond just looking at the exhibits. In particular, life-cycle welfare policies, water recycling, dementia prevention, and age-friendly food will be covered, providing a wide range of wellness information.
The opening ceremony will be held on the 13th at 10:30am, and will include awards for individuals and organisations that have contributed to the wellness sector. Alongside the government awards, there will be a range of events and giveaways to keep visitors entertained.
The exhibition is free and open to the public from 10am to 5pm, and will offer a range of wellness experiences and healing opportunities, making it a great way to cool off and find some peace of mind.
**Wellness and beer, the rise of 'light beer'**.
This summer, the 'wellness' and 'health' trends are also making their mark on the beer market. In particular, 'light beer', which emphasises low calories and zero sugar, has become popular, and this has led to fierce competition in the domestic alcoholic beverage industry.
Light beer contains 30 calories or less per 100ml, and its alcohol content is 3-5% lower than regular beer. In recent years, the demand for light beer in Korea has surged, and various alcoholic beverage companies have entered the market. This is driven by the health and wellness trend and the growing interest in health and calorie management among Generation MZ.
In the United States, light beer is already very popular, accounting for more than half of the market. In Korea, sales of light beer at convenience stores, including GS25, grew 32.1 per cent year-on-year, with steady growth of 8-15 per cent annually.
The Korean liquor industry has introduced a variety of light beers, such as Obi Beer's Cass Light, Hite Jinro's Terra Light, and most recently Mikelop Ultra. 'Cass Light' maintains the top market share with zero sugar and low calories, while 'Mikelop Ultra' is attracting attention as a premium light beer. HiteJinro's Terra Lite is expanding its market share through aggressive marketing.
The popularity of light beer is expected to continue in the future. In line with the health and wellness trend, it is expected to become a suitable alternative for health-conscious consumers and drive the growth of the beer market.
**Wellness and temple stay, a healing spot at Yeondeung International Seonwon in Ganghwa
Yeondeok International Seonwon in Ganghwa-do, Incheon, is gaining attention as a wellness tourism destination in the summer. Opened in 1997, the temple was founded at the initiative of Master Won Myung, a disciple of the great monk Sungchul, to introduce Korean Buddhism to foreigners. It is now famous for its 'temple stays' and has been designated as a 'wellness tourism healing spot' by the Incheon Tourism Organization.
Yeondeung Kokusai Seonwon is a departure from traditional temples and is designed to be accessible to visitors. The temple does not have a main gate or Sacheonwangmun, and offers an environment that blends in with nature like a country pension. Especially in summer, you can experience the cool breeze and tranquil scenery amidst the lush greenery.
The temple stay programme is divided into 'experience' and 'relaxation'. The experiential programmes include meditation, walking meditation, and tea talks with the monks. The tea time with the monk is particularly popular with both foreign and Korean visitors. The relaxation programme, on the other hand, focuses on complete relaxation without meditation or chadam.
International travellers are not allowed to drink or smoke inside the temple, and room assignments are randomised. The cost per night is 70,000 won, and while futons and robes are provided, you'll need to bring your own toiletries and personal items.
The temple has impressed both domestic and international visitors as a place to escape from the hectic pace of modern life, offering a calming time of healing and wellness.