BUSINESS

[Monitor] Spending soars on health care

By Korea Herald
  • Published : Sept 11, 2017 - 17:06
  • Updated : Sept 11, 2017 - 17:06

Private spending on health-related items and services surged drastically among households in South Korea, surpassing 10 trillion won ($8.86 billion) for the first time in the second quarter this year, data from the Bank of Korea showed Monday.

It was a 4.8 percent increase from the previous quarter.

The health care spending includes hospital fees not covered by health insurance.

Spending on health care has nearly doubled in the past decade, from 5.24 trillion won in the same quarter of 2007, a trend attributed to an aging society.