Logistics Revolution
The popularization of overseas direct purchases is signaling a fundamental change across a variety of industries. The seismic change is likely to be accelerated with time by the conclusion of an increasing number of free trade agreements.
According to market research firm eMarketer, Korea’s e-commerce market reached US$33.11 billion in size last year and is estimated to hit US$47.82 billion within three years. Last year, Korea’s e-commerce market was the seventh largest in the world, following those of China, the U.S., the U.K., Japan, Germany, and France. China’s e-commerce market was US$426.26 billion in 2014.
The education and medical sectors are jumping on the bandwagon, too. These days, more and more non-Korean patients are visiting the official websites of Korean hospitals for medical consultations, and tourists from China, Russia and many more are visiting plastic surgery clinics located in Gangnam, Seoul.
Internet-based remote robotic surgery is expected to allow patients in Korea to be treated by surgeons at the Johns Hopkins University Hospital, too. The Gangnam Severance Hospital is already providing medical assistance for patients abroad by means of its remote health care system. In the education sector, too, colleges such as Kyunghee Cyber University, Seoul Cyber University, Korea Cyber University, and Soongsil Cyber University are recruiting foreign students online.