The South Korean government takes up the matters of healthcare pretty seriously. The government of South Korea has invested several millions in the infrastructures of health and in a way attempts to present the citizens with the benefits of an improved funding for the healthcare system in order to remove or rather erase off each and every uncertainties that were caused by the financial crisis that occurred in the year 1997. The South Korean government also does so as to attract the valuable attention of each and every section of the global pharmaceutical sector. The Act of the National Health Insurance or the NHI Act was firmly introduced in the year 1999. The NHI Act integrated included several societies of insurance and culminated them all into a single, particular system. This was done in order to simply enhance the matters of equity of the financing of the sector of healthcare.
The healthcare system of South Korea was also boosted by a few temporary measures throughout the year 2002. This was done through the enactment of a special Act that simply dealt with stabilization of NHI at least on the financial basis. The Korean government also attempted a move so as to present its citizens with various complete healthcare services at no cost at all. The aforementioned NHI system was initially sort of overlooked by the nation's Ministry of Health and Welfare and a few medical aids were made to be mandatory for all the Koreans living in the country with the exception of some medical aid beneficiaries. In the month of October in 2003, it was roughly estimated that this particular NHI Program covered the majority of the South Korean population. It was seen that about 97% of the population was covered under NHI. The Medical Aid Program or the MAP that happens to be a particular Korean program for social assistance covered only 3% of the total population. The new system thus created has opened up a gamut of considerable opportunities for many foreign companies as there is strong demand from the population for new medicines.
A large attraction for the companies dealing with pharmaceuticals happens to be the absolute separation of medical both in the process of prescribing as well as dispensing. This was also a key reform of prevalent healthcare system of South Korea in July 2000. This particular process showcased a particular shift from the dispensing doctors to the retail market of pharmacy. This was initially resisted by physicians, who had gathered a larger proportion of profit from the pharmaceuticals.
The South Korean government does firmly understand the facilities as well as the benefits of presenting its citizens with free healthcare as well as with other such related medical aids. Such free medical aids go a long way to present the citizens of any nation with a confidence in their governments and at the same time keeps them free of tension from paying up large chunks of money for some medical purpose.