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| September 10th, 2024 Korea Wellness News |
Welcome to our latest blog post, where we explore the exciting developments in Korea Wellness as of September 10th, 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.
Hapcheon County recertifies as a wellness city and regional development initiative
Hapcheon-gun, Gyeongnam, has signed a business agreement with the Korea Forest Service's National Arboretum for the conservation and sustainable utilisation of plant genetic resources. The agreement is part of the Plant Governance Project, which aims to increase the value of plant resources and protect local ecosystems. In particular, the two organisations have pledged to conduct joint research and exchange information on the conservation of the rare plant ‘Great Haeora orchid’.
Hapcheon-gun was also recertified as a ‘K-Wellness City’ for the first time in the country. Wellness is a concept that encompasses physical, mental, and social health, and this recertification signifies Hapcheon's excellent performance in the field of wellness. Local governments that are selected as K-Wellness Cities are prioritised for various domestic and international events through cooperation with wellness associations.
In addition, Hapcheon-gun hosted the launch of the ‘Smart City Planning Living Lab’ to promote urban problem solving through local participation and ICT utilisation. In addition, the county is promoting the safety and development of the local community through various projects for the local economy and disaster prevention.
In addition to these efforts, Hapcheon-gun is striving to strengthen tourism and the local brand through local events such as the ‘Star Kung’ sculpture installation and the ‘Jirisan Hamyang Baekjeon Schisandra Festival’, and is continuously promoting various activities for local development.
**First step towards commercialisation of deep learning histopathology diagnostic method with eco-friendly wellness***.
Recently, an eco-friendly deep learning-based histopathology diagnostic method developed by a research team led by Professor Chung Chan-kwon of the Department of Pathology at Seoul St Mary's Hospital, Catholic University of Korea and Professor Kim Cheol-hong of Postech was published in the world's top three academic journals, Light: Science and Application. The research team developed an artificial intelligence system for unlabelled photoacoustic tissue image analysis for human liver cancer tissue examination, called Photoacoustic Histology (PAH) technology.
PAH uses light to detect ultrasonic signals generated by biomolecules to generate images, and can provide accurate pathological images through virtual staining without traditional staining and labelling. By combining PAH with the latest AI technology, the research team analysed liver cancer cells with 98% accuracy through the steps of ‘virtual staining’, ‘segmentation’ and ‘classification’.
In particular, the deep learning model achieved a sensitivity of 100 per cent in a comparative evaluation with pathologists, demonstrating its applicability in clinical practice. It is attracting attention as an eco-friendly wellness diagnostic method that solves the environmental pollution problem caused by the traditional dyeing process and saves time and cost.
‘This study has opened a new era of digital histopathology as an environmentally friendly diagnostic method that reduces the time and cost of staining and labelling cancer tissues and does not use chemicals,’ said Prof. Chan-Kwon Jung, who plans to apply the technology to other cancer tissue tests in the future.
**New Opportunities for ‘Active Seniors’ in an Ageing Society with Wellness
From next year, Korea is expected to enter an ultra-elderly society, with one in five people aged 65 or older. As a result, the number of startups targeting active seniors, or ‘active seniors,’ is increasing. They offer a range of wellness-related services to help seniors live an active life.
Lifestyle wellness startup Ginam runs the Go:Yo Wellness Academy for active seniors. The academy helps seniors with styling and self-care through customised makeovers and one-day classes. Jinam also focuses on healthcare consulting and is working with the Gangseo 50 Plus Centre in Seoul to create jobs and develop training programmes.
Startup Roche Korea's ‘Onew’ offers programmes focused on IT education. Onew provides specialised training for seniors who are unfamiliar with digital technologies such as ChatGPT, Instagram, and Naver, and is working with social enterprise Caring to develop leisure content.
AgeFree has also launched a vocational education platform for various age groups called ‘Chunjik’. It provides various vocational training regardless of age, gender, and educational background, and connects trainees with professional training centres across the country.
‘As the MZ generation is leaving the workforce at a higher rate and active seniors are looking for new jobs, the number of startups catering to them is increasing,’ said an industry insider. These changes are providing a range of opportunities for wellness and contributing to a better quality of life for seniors.
**Wellness and medical tourism meet at the 2024 Seoul Medical Tourism International Travel Mart***.
The Seoul Metropolitan Government announced that it will host the Seoul International Travel Mart for Medical Tourism (SITMMT) 2024 from 10 to 11 October at Sofitel Ambassador Seoul Hotel in Songpa-gu. The event is being held in collaboration with the Seoul Tourism Organization and will be an important opportunity to promote Seoul as a centre for medical tourism and wellness.
Now in its sixth year, SITMMT will feature more than 300 companies from the domestic and international medical tourism industry, with 60 international buyers from 20 countries and 240 sellers from Korea conducting one-on-one business consultations. During the event, a variety of programmes will be held, including special lectures on medical tourism and wellness, as well as experiential booths.
On the 10th, a special lecture on western medicine and oriental medicine will be held in the morning, and a networking event for medical tourism industry stakeholders will be held at 6pm on the same day. On the 11th, five of Seoul's top tertiary hospitals (Kyung Hee University, Seoul St Mary's, Seoul Asan Medical Center, Severance, and Chung-Ang University Hospital) will present presentations on the city's medical infrastructure.
Last year's SITMMT recorded 1,409 consultations and a record-breaking $24 million (approx. KRW 32 billion) in contractual agreements, according to the city, and it is hoping for similar results at this year's event. Domestic sellers who wish to participate can register on-site without prior booking, which will be available at the hotel's Grand Ballroom from 9am.
**Wellness Innovation Helps BioHealth Startups Take Off** **Wellness Innovation Helps BioHealth Startups Take Off
Promising biohealth startups took a new leap forward to blossom their seeds of innovation at the closing ceremony of the 4th Biohealth Management School 2024, held on 6 June at the Eland Cruises Jamsil Port in Songpa-gu, Seoul. The event was hosted by the Future of Medicine Research Foundation and Scaleup Partners, and has become an important programme for the development of the biohealth industry and the success of startups.
The BioHealth Management School is an educational programme that helps entrepreneurs bring innovative technologies to the real market, and helps them succeed in commercialisation through mentoring from technology and investment experts. Various experts from the Korea Invention Promotion Association, Seoil University, and Korea Health Industry Promotion Agency participated in the training and shared their know-how.
At the opening ceremony, Dr Lee Seung-kyu, Chairman of the Foundation for Future Medical Research, encouraged the entrepreneurs, saying, ‘Startups with promising technologies and items should be launched even in a difficult market environment to revitalise the industry.’ ‘In a situation where biohealth investment is stagnant, startups should focus on cash-out management and technology value enhancement,’ said Lee Tae-gyu, CEO of ScaleUp Partners, adding that the US Federal Reserve's interest rate cut is expected to have a positive impact on the domestic biohealth investment market.
At the closing ceremony, outstanding graduates of the BioHealth Management School were awarded with commendations and cash prizes, and innovative startups were recognised. In addition, the event provided important experience and networking opportunities for startups aiming to develop the biohealth industry and expand globally, and was an opportunity to present new possibilities in the biohealth field.
**Busan to become a healing city by discovering wellness tourism destinations**.
Busan City is planning to leap forward as a global tourism hub by promoting wellness tourism in earnest. Wellness is a combination of well-being, happiness, and fitness, and refers to a healthy state of physical, mental, and social well-being. The city of Busan will hold a competition to discover new wellness tourist destinations from 2024, and plans to select a total of 15 by 2026.
The six Busan-type wellness tourist destinations selected last year are being upgraded to reflect the natural characteristics of Busan and its marine, forest, and healing elements. This year, in addition to the existing nature, beauty and spa, yoga and meditation, the theme will be expanded to five areas by adding ‘stay’ and ‘food’ to discover new wellness tourist destinations.
Busan plans to designate new wellness tourist destinations by evaluating tourist destinations recommended by 16 districts and counties through this contest, and provide customised branding and marketing support for these destinations. It will also operate the ‘Busan Wellness Tourism Academy’ to foster wellness professionals, and train specialised personnel required to operate tourism content.
‘In line with the trend of healing and healing-oriented tourism, we will discover specialised wellness tourist destinations unique to Busan and upgrade their contents so that we can leap forward as a special purpose tourism city,’ said Busan Mayor Park Hyung-joon.
**Seoul to become a global mecca for wellness and medical tourism***.
Seoul is establishing its status as a global medical tourism centre with the Seoul International Travel Mart for Medical Tourism (SITMMT) 2024, which will be held at Sofitel Ambassador Seoul Hotel in Songpa-gu from 10 to 11 October. The event, now in its sixth year, will host 300 companies from the domestic and international medical tourism industry, with 60 international buyers from 20 countries, including the Middle East, India and Mongolia, travelling to Seoul for one-on-one business meetings.
According to the Seoul Tourism Organization, last year, 470,000 outbound medical tourists visited Seoul, an increase of 223 per cent year-on-year, and the Seoul Medical Tourism International Travel Mart recorded 1409 consultations and $24 million (approx. KRW 32 billion) in contractual agreements. This year, more than 1,700 consultations were booked even before the event opened, further cementing Seoul's position as a global medical tourism mecca.
During the event, there will be interactive promotional booths and Seoul medical tourism briefings where visitors can experience the city's diverse medical and wellness content, as well as special lectures and networking nights. In particular, Professor Son Myung-hee Sohn of Samsung Medical Center and Dr Raimund Droyer of Jaesang Oriental Hospital will present on the use of AI technology and a demonstration of chu na method, respectively.
Through this event, the Seoul Metropolitan Government plans to showcase the city's excellent medical infrastructure to the world and strengthen cooperation with overseas buyers to promote the continued growth of Seoul's medical tourism industry.
**Korea's Wellness Tourism to Hold Major Promotional Events in the Philippines and Japan**.
The Ministry of Culture, Sports and Tourism and the Korea Tourism Organization held large-scale events to promote Korean wellness tourism in the Philippines and Japan. The K-Tourism Roadshow, held in Manila from 6-8 September, was the largest of its kind in the Philippines, attracting more than 50,000 visitors and showcasing various contents on winter tourism and family travel in Korea. The event also featured performances by Hallyu stars such as EXO's Siumin and Punch.
In addition, the Korea Tourism Organization plans to launch a visa application simplification programme for Filipino high-income earners and a campaign to promote tourism to Korea in partnership with credit card companies. This will further encourage Filipino tourists to visit Korea.
Next, ‘A Step to Korea in Osaka’ will be held in Osaka, Japan, from 14 to 15 September, introducing various Hallyu contents such as K-fashion, K-performance, and K-beauty, and is expected to attract about 80,000 visitors. In addition, from 21 to 22 September, Korea Culture & Tourism Expo will be held in Toronto, Canada, to showcase various Korean tourism contents such as Buddhist culture, vegan food, and wellness.
**Park Seo-joon participates in Lululemon's ‘Together We Grow with Wellness Campaign’
Global sportswear brand Lululemon has launched a new campaign, ‘Together We Grow’, to promote inner wellness through physical movement and social connection. The campaign will run from September to November to coincide with World Mental Health Month in October.
As part of the campaign, Lululemon will host an offline event in Seoul on 12 October, where participants will have the opportunity to experience wellness through various exercises and activities. The campaign will feature ambassadors including actor Park Seo-joon, CrossFitter Amity and Holistic Wellness Programme founder Leah Simmons.
‘I want to help people access true wellness by exercising and connecting with others,’ Park said, adding that he hopes to create a culture where it's natural to express emotions.
With the #Together We Grow challenge, Lululemon is aiming for one million minutes of physical activity in Asia Pacific. Participants are encouraged to post a photo or video of themselves doing physical activity with a friend on Instagram, tagging the campaign hashtag and the Lululemon Korea account. Each uploaded content will accumulate 30 minutes of exercise, and the campaign will run from 10 October to 12 October.
**M&A bad news: Tilray begins restructuring three weeks after Molson Coors acquisition**.
Just three weeks after acquiring the beer brands of US alcoholic beverage company Molson Coors, Canadian cannabis company Tilray has begun restructuring. The company is looking to maximise operational synergies by reducing duplicative or similar workforces following the acquisition. The beverage division currently accounts for 25 per cent of Tilray's total revenue.
While the acquisition of Molson Coors' four beer brands adds a new business area to the company's portfolio, Teal'c is looking to quickly restructure to maximise cost savings and efficiencies. This shows that M&A doesn't always guarantee successful synergies. Teal'c's move is seen as a way to clarify the company's strategic direction and make the integration process more efficient.
**Wellness trends among teenage boys: nostalgia is all the rage
Nostalgia is the new wellness trend among teenage boys. According to Piper Sandler's 2024 Teen Deep Dive and Mintel's Fragrance Report, fragrance use is growing rapidly among teens in the US and UK. In the US, fragrance consumption among teenage males has increased by 26 per cent year-on-year, while in the UK, fragrance consumption among Gen Z males has increased by 70 per cent.
Social media platforms like TikTok are further fueling the trend. Fragrance influencers share how-to's and reviews of luxury fragrances, appealing to younger audiences. They are using perfume as a means of fashion and self-expression, with brands such as Dior, Laban, and Jean Paul Gaultier being particularly popular.
Perfume is no longer just a luxury, but is now seen as part of self-care and wellness. Teenage boys believe that perfume gives them confidence, lifts their mood and improves their mental health. This shift further highlights the potential of the fragrance market and strongly suggests the connection between fragrance and wellness.
**Coco Square opens flagship store in Sinsa-dong, focusing on wellness and pets**.
Coco Square has opened a new flagship store in Garosu-gil, Sinsa-dong. The new store is a lifestyle space for both pets and non-pets, emphasising wellness and pet-centric concepts. Named ‘Coco Square Tranoy Sinsa,’ the store has six floors and is designed to be a multi-functional space.
The first and second floors are home to a cafe & bar and Italian dining, where pets are welcome to visit with their owners and daycare services are available for pets while dining. The third floor is home to a VIP lounge and merchandise for both you and your pet, while the fourth and fifth floors are home to a doggy kindergarten and daycare area. The sixth floor is an exclusive lounge for membership customers, where parties and seminars are held. The basement level will feature an aqua pool for pets, a wellness therapy massage area, and a grooming area.
The flagship store in Coco Square will be a membership-based store, with subscription options ranging from a minimum of KRW500,000 to a maximum of KRW100 million. This will provide customers with a differentiated wellness and lifestyle experience, with plans to open additional stores in major cities such as Seoul, Busan, and Daegu in the future. Coco Square provides a space for both pets and non-pets to enjoy together, setting a new standard for wellness and pets.
**Yeongam County reaps the rewards of wellness and innovation
Yeongam-gun is deeply rooted in the local community through innovation, and is building local development with ‘wellness and innovation’ at its core. Based on five keywords, including youth vitality, moonlight ecology, and future high-tech agriculture, Yeongam-gun is promoting innovations that local residents can experience in their daily lives.
In the last two years, Yeongam-gun has secured a total budget of KRW 240.5 billion through large-scale public projects such as the National Mahan Historical and Cultural Centre and the Ecological Exploration Park, strengthening its financial foundation. In addition, it is attracting attention by promoting various cultural festivals and regional-specific projects to increase the value of local resources. The creation of jobs for young people and the opening of the Youth Communication Centre are adding to the vitality of the region, and complex cultural spaces such as ‘Moonlight Cheongchunmaru’ in Yeongam-gun are meeting the diverse needs of young people.
In particular, Yeongam-gun is also paying attention to policies related to ‘wellness’. In addition to creating wellness spaces using local ecological resources, the county is promoting development plans centred on health and wellness, such as the Wolchulsan National Park Ecotourism Park and the Sports Complex Town. In addition, through the local circular economy, it is prioritising the purchase of locally produced goods and promoting the self-reliant development of the local economy.
These innovations and wellness-focused policies are helping Yeongam-gun provide a better quality of life for its residents and contribute to the sustainable development of the local community.
Songdo Wellness Health Checkup Centre moves to Songdo Jai Crystal Ocean with a focus on wellness
Songdo Wellness Health Checkup Centre has announced that it will be relocating to Songdozai Crystal Ocean at the end of September. The move is in response to the rapidly increasing demand for medical examinations and to improve the environment, and will provide a prime location overlooking the vast expanse of the West Sea.
The centre is designed to be the most beautiful ocean-view health check-up centre in Korea, featuring hotel-quality interiors and a spacious, open space. To enhance patient convenience, the centre will introduce additional state-of-the-art medical equipment and create a comfortable treatment environment to provide precise, high-quality and personalised medical services.
‘We will do our best to provide a space configuration and treatment environment that is true to the essence of wellness, so that test takers can feel more comfortable,’ said Kim Tae-kwang, CEO of the hospital. ’We will provide improved medical services to local residents in the expanded space so that they can enjoy better medical benefits.’
With the COVID-19 ‘bubble’ burst, what's the future of digital health and wellness in Korea?
The K-digital health industry, which rose to prominence during the COVID-19 pandemic, is currently facing challenges. While the growth of digital healthcare has been prominent in the global market, the Korean digital health market is a small part of the overall pharma and biotech market. From 2020 to 2022, the Korean digital health market accounted for less than 1 per cent of the global market.
South Korea's digital health companies have been struggling with sluggish sales and burned out investments, and excessive regulations and lack of government support have been blamed. In particular, restrictions on healthcare payers and reliance on health insurance have been cited as obstacles to the industry's growth.
However, some experts believe that this is the beginning of the real battle for the digital health industry, and that competition between companies with the right technology will begin in earnest. The insurance coverage of AI-based medical devices and digital therapeutic devices (DTx) has opened up the market, but it is difficult to recover development costs due to low insurance reimbursement.
For the future of the digital health industry, there are calls for policy support and improvement of the insurance drug price system.
Yeongdeok-gun to host ‘International H Wellness Festa’, a convergence of the world's top three natural medicines
Yeongdeok-gun, Gyeongsangbuk-do, will host the ‘Yeongdeok International Wellness Festa 2024’ from 3 to 6 October 2024 at the Goryebul National Campground. The festival will be organised around a wellness experience that fuses the world's three major natural medicines - Chinese medicine, Indian Ayurveda and German Kneipp - and a life fair with various domestic and international companies.
The festival is hosted by Yeongdeok-gun and Gyeongbuk-do and organised by the Yeongdeok Culture and Tourism Foundation, with participation from the Korean Medical Association, the Korean Herbal Medicine Promotion Agency, the Indian Ayurvedic Medical Association, and renowned domestic and international organisations such as the University of Delhi and Banaras Hindu University. The opening event will include traditional Indian dance performances, natural musical instruments, wellness talk concerts, and a whale fire beach walk.
During the event, a total of 105 booths will offer a variety of wellness experiences including Chinese medicine, Ayurveda, and Knife, as well as a food market selling wellness food, beauty, and supplies, and cultural events such as a joint Korean-Indian performance and an invitational exhibition of Indian folk tales. There will also be rest zones for wellness natural healing activities such as forest naps, relaxation meditation, yoga, barefoot walking on the beach, and camping.
Through the festival, Yeongdeok-gun will promote international exchange and co-operation in the wellness industry, and will make efforts to develop the industry through networking, topic presentations, and convergence demonstrations. ‘We hope that the festival will be an opportunity to provide wellness unique to Yeongdeok to those who are tired in their busy lives and recharge their strength,’ said Kim Kwang-yeol, Yeongdeok-gun.
Building a marine deep water wellness healing centre and water intake facility to secure national funding
Goseong-gun is working hard to secure government funding to build a marine deep water wellness healing centre and water intake facility to revitalise the wellness industry using marine deep water. On the 10th, Goseong-gun Governor Ham Myung-joon visited the Ministry of the Interior and Safety to request government support for the construction of a marine deep water healing centre and a water intake facility for stable supply of marine deep water.
The centre will be built with 28 billion won of the total project cost of 40 billion won in government funding. The centre will be a medical facility specialising in tourism, medical care and healing using marine deep water, and will play an important role in Goseong-gun's transformation into a wellness marine healing centre.
In addition, the project to build a water intake facility for multi-purpose use of marine deep water will secure KRW 32 billion of the total KRW 40 billion in government funding to ensure a stable supply of marine deep water for the healing centre. The facility is an essential facility for the ever-increasing supply of deep water raw water, and will support the development of the marine deep water specialised agricultural industrial complex and related industries.
Ham said that the government will make every effort to secure state funding for the high value-added of the deep-sea water industry and to respond to the risk of local extinction. He also proposed the establishment of an intergovernmental working group to facilitate smooth business in the border area.
MGRV Conducts Chuseok Food Sharing Service with Wellness Community
MGRV, together with its customers, organised a volunteer activity to share festive food with the elderly living alone in the local community on the occasion of Chuseok. The activity was part of MGRV's community programme, Mangrove Social Club (MSC), in collaboration with global kitchen and home appliance brand Tefal.
The event took place at Mangrove's newest branch on 7 July, where volunteers prepared 30 servings of festive food, including bulgogi, hotpot, and songpyeon, under the guidance of healthy food culinary researcher Dr Im Kyung Nurturement. The food was packed in airtight containers and delivered directly to 30 elderly residents in the building.
‘We are happy to share warmth with the local community during the Chinese New Year,’ said a representative from MGRV. ’This activity was a great opportunity for us to do good deeds through exchanges with the local community near the new mangrove.’
MGRV offers a range of experiences through its wellness community programme, the Mangrove Social Club, which has more than 650 members to date. MGRV has been conducting various community activities as its customers are mainly single households and are interested in connecting with their neighbours.
Lotte abandons wellness healthcare business and focuses on CDMOs
Lotte Group has decided to abandon its healthcare business and focus on contract development and manufacturing (CDMO), the centrepiece of its bio business. The decision is closely related to the failure of the healthcare business, which was considered one of Lotte's new growth engines.
Established in April 2022 with the backing of Lotte Group, Lotte Healthcare has struggled with allegations of technology theft from domestic startups and underperformance of its genetic testing services. Last year, the company posted an operating loss of 22.9 billion won ($8 billion) against revenue of 22.8 billion won, which Lotte supported with a 50 billion won capital increase, but it did little to improve profitability.
The failure of the healthcare business is said to have affected Lotte's third-generation CEO Shin Yoo-yeol's ability to prove his management skills. Shin is in need of a tangible performance to address succession issues, and may have decided to focus on the CDMO business in line with Lotte Group's emergency management system.
Lotte established Lotte Biologics in 2022 to focus on the CDMO business. It began its expansion by acquiring a plant from US pharmaceutical giant Bristol-Myers Squibb, and is planning to build a mega-plant in Songdo.
In the end, Lotte seems to have chosen a strategy to prove Shin's management abilities through the performance of the CDMO business rather than the healthcare business, and to secure the group's future growth.
Jeonju announces 10 keywords for future development centred on wellness
Jeonju City has announced 10 keywords to prepare for the next 100 years. At a communication workshop on Tuesday, Park Mi-ja, head of the Jeonju City Government Research Institute, presented the keywords in five areas: urban space, economic and industrial, administrative and social, cultural and tourism, and global.
The 10 keywords include ‘Mega Region,’ ‘Anchor City,’ ‘Slow & Fast,’ ‘Bioeconomy,’ ‘Local Era,’ ‘Wellness,’ ‘Traditional Beauty×Modern Beauty,’ ‘Smart & Eco-friendly,’ ‘International City,’ and ‘Carbon Neutrality and Climate Resilience.
In particular, ‘Wellness’ was emphasised as a goal to pursue win-win cooperation between Jeonju City and neighbouring Wanju County and the health and happiness of its citizens. The ‘Mega Region’ seeks to promote cooperation with neighbouring cities through mega-city connectivity, while the ‘Anchor City’ is a strategy to position Jeonju as a central city.
In the economic and industrial sectors, the city aims to foster traditional and high-tech industries at the global level through ‘slow & fast’ and ‘bio-economy’ to achieve sustainable economic transformation.
Based on these 10 keywords, Jeonju City plans to shape its future strategy and promote the health and happiness of the local community through wellness-centred development.
WE Hotel Jeju relieves holiday syndrome with wellness programme
WE Hotel Jeju has introduced a wellness programme to combat holiday syndrome. The premium health resort is located in the pristine area of Seogwipo, Jeju Island, and operates the ‘Medical Spa Centre’ and ‘Wellness Centre’, which combine medical and spa.
The hotel's wellness centre offers a variety of wellness programs using clean energy and mineral-rich natural volcanic rock water from Hallasan Mountain. In particular, the ‘Haeam Hydro’ programme helps to relax muscles and relieve stress through stretching and acupressure while floating on water using a floatation device. The programme is WE Hotel Jeju's unique hydrotherapy method, which provides underwater music and a relaxing feeling in a dedicated meditation pool.
In addition, the Medical Spa Centre uses an infrared body heat diagnostic device to accurately identify areas of nerve pain or disease and provides customized spa therapies based on the diagnosis of a specialist. The ‘Vichy Therapy’ massages the entire body with water streams from seven shower heads, which stimulates lymph and blood circulation, and is effective in managing edema and discharging waste.
‘We hope that the scientific and differentiated spa therapy using natural volcanic rock water will help you recover from the fatigue accumulated during the holidays and restore your circadian rhythm,’ said an official from WE Hotel Jeju.
Enjoy Chuseok with Wellness at Hotels and Resorts
Hotels and resorts are offering special wellness-related packages for the Chuseok holiday. The five-day long holiday is in high demand with guests looking to enjoy a ‘Chuseok + holiday’.
Sun Village, a wellness resort in Hongcheon, Gangwon-do, is offering the ‘Hangawi Singing Bowl Moonlight Shower,’ a programme that allows guests to meditate with the sound of a singing bowls while watching the full moon. Other activities include meditating over a bonfire under the full moon, as well as a variety of activities to get you in the mood for Chuseok, such as a Tug-of-War tournament and a Yukgol tournament.
Mayfield Hotel in Seoul is offering a ‘Hanbok Holiday: Creating Special Memories for Mother and Daughter’ package. Mothers and daughters can dress up in hanbok, the royal dress, and take photos in the hotel's traditional hanok and exotic landscapes. This package is a special offer aimed at domestic guests for the Chinese New Year.
For families, DoubleTree by Hilton Seoul Pangyo's Catch! Tiniping Adventure with Tiniping’ package. This package includes a one-night stay in a room, breakfast voucher, Catch! Tiny Ping carrier set, and admission to Tiny Ping Universe.
Hotels and resorts are also offering a variety of wellness programmes and special packages to make the Mid-Autumn Festival special for guests.
Wellness, Weight Loss, and Telehealth Innovations at Hearth & Health
HIMS is making waves in the wellness market with its $199 per month semaglutide multi-component combination drug, an alternative to global pharmaceutical giant Novo Nordisk's obesity drug, through its telehealth platform. The company has grown rapidly by offering telemedicine services for men's health issues such as hair loss and erectile dysfunction. More recently, the company has expanded into women's services and is gaining traction in the weight loss and obesity management market.
During the second quarter of 2024, Strength & Health saw a 52% increase in revenue to $315.6 million, with net income improving to $13.3 million. The company has gained traction among equity investors and has been buying in large numbers, with subscribers exceeding 1.9 million at the end of Q2. That's a 43% year-over-year increase.
The company is trying to compete in the obesity management market by selling its compound semaglutide at a lower price point to keep up with the surge in demand for GLP-1 weight loss drugs. However, the compound has not been formally approved by the FDA, raising concerns about its safety and efficacy.
As the company continues to innovate in the healthcare space, it remains an important player in the wellness and weight loss market, and its growth is likely to continue.
**Telemedicine in the age of wellness: HGH's weight-loss drug and stock price fluctuations***.
HIMS operates a telehealth platform and recently began selling its semaglutide combination drug for $199 per month. The low-cost weight-loss drug is being seen as an alternative to Novo Nordisk's expensive obesity drug. Regulators in the US allow limited manufacturing of drugs in short supply, and Powers & Hus sees this as an opportunity.
But if Novo Nordisk solves the supply problem, it could hurt Powers & Hus's market share. The company's share price has been on the decline in recent years as Eli Lilly has launched cheaper obesity drugs. The stock hit an all-time high in June, but is now down significantly.
The company has made strides in telehealth and is growing rapidly through personalised drug prescriptions and subscription services, particularly in niche markets such as women's skincare and men's sexual enhancement products. Analysts expect the company's revenue to grow significantly in 2024 and beyond, and the stock currently has an attractive valuation. Wall Street has a mix of ‘hold’ and ‘buy’ opinions, pointing to the potential for the stock to rise in the future.
**Wellness and sustainability: Bonghwa Group announces 2040 future vision**.
Bonghwa-gun held a future vision proclamation ceremony on the 9th with the theme ‘Opening a new era of Bonghwa, together with Vision 2040.’ The event was held to present a blueprint for regional development and share the direction of Bonghwa's development with the public as the county enters the second half of its eighth term.
Bonghwa County's future vision is divided into five major areas, each emphasising wellness and sustainable development. The main visions included future-secured agricultural innovation, five-sensory attraction tourism, sustainable growth city, smile city, and future-value forest management.
In particular, Mr Park briefed the vision in conjunction with Bonghwa's three core projects, including the K-Vietnam Valley Project, Smart Farm Creation Project, and Pumped Storage Power Plant, and announced specific plans in the areas of agriculture, tourism, regional development, welfare, and forestry. In the area of agriculture, the city plans to promote high-income agricultural innovation through smart agricultural infrastructure, and in the area of tourism, the city plans to strengthen its image as a global tourism city. In the area of regional development, the city aims to become a sustainable growth city through initiative-driven regional development and rural space reorganisation. In the welfare sector, the city aims to become a happy city by building large-scale silver wellness towns and strengthening youth support policies, while in the forestry sector, the city focuses on revitalising the timber industry and building forest specialised cities.
Park Hyun-guk called for the cooperation of the civilian population in the face of the depopulation crisis, and emphasised joint efforts for the development of Bonghwa-gun.