The Ministry of Economic Development suggests South Korean healthcare centers be opened in Vladivostok's Free Port

Deputy Minister of Russia for Developing the Russian Far East Sergey Kachaev has discussed the potential opening of Korean major healthcare centers in Vladivostok's Free Port with the Korean party during his working trip to Seoul.

The Ministry of Economic Development suggests South Korean healthcare centers be opened in Vladivostok's Free Port

Deputy Minister of Russia for Developing the Russian Far East Sergey Kachaev has discussed the potential opening of Korean major healthcare centers in Vladivostok's Free Port with the Korean party during his working trip to Seoul.

Sergey Kachaev told the Korean party about the Federal Law on Vladivostok's Free Port that was enacted in 2015 pursuant to which the Russian Government may establish a special procedure to regulate some lines of business carried out in the territory of the port.

Such mode is planned to be put in place for healthcare activities as well. For this purpose, the Ministry of Economic Development has drafted amendments to federal legislation and a potential regulation model extending to the activities of medical institutions that may operate in the Free Port is being intensively discussed with potential partners.

Deputy Chairman of the Korean International Trade Association (KITA) Kim Jong Kwan, who participated in the deliberations concerning the opening of Korean healthcare centers in the Russian Far East, emphasized the importance and relevance of this project. "I believe this is a very useful proposal, Mr. Kim said. The conditions you are ready to offer may well facilitate the development of modern healthcare in the Far East. We will mandatorily review and estimate your proposal."

According to experts, more than 7,000 Russians residing in the Primorsk Territory only visit South Korea annually for medical examination and treatment. "We would like to ensure that Russian citizens do not have to leave the country in order to get high quality medical aid but are able to get it in Vladivostok's Free Port", Pavel Volkov, an Advisor to the Minister of Russia for Developing the Russian Far East, noted.

To implement the project, a joint team has been created to develop a model for creating Korean healthcare facilities in Vladivostok's Free Port. The options proposed include franchising, construction of healthcare facilities on turn-key basis and trust management.

Issuing licenses authorizing the activities of such health care centers is another vital issue. It is expected that a license issued in the Republic of Korea will be recognized as valid in Vladivostok's Free Port with companies being able to import necessary medical equipment enjoying a simplified tax treatment mode.