Average healthcare spending in Korea jumps 36% in five years, hitting ₩4.12 mil. won

Over the past five years, annual per capita healthcare expenses have increased by approximately 1 million won ($720).

According to data submitted to Rep. Kim Mi-ae of the People Power Party by the Ministry of Health and Welfare, annual per capita healthcare spending increased by 35.8 percent from 3,032,000 won in 2019 to 4,118,000 won in 2024.

During the same period, medical expenses for health insurance also increased. Excluding medical benefits and non-covered medical expenses, health insurance medical expenses increased by 34.4 percent from 86.47 trillion won in 2019 to 116.25 trillion won last year.

Among healthcare institutions, health insurance medical expenses incurred at medical institutions increased by 34.3 percent, from 68.71 trillion won to 92.29 trillion won. In particular, outpatient medical expenses rose sharply, increasing by 41.3 percent from 36.46 trillion won in 2019 to 51.50 trillion won last year. Hospitalization expenses also increased by 26.4 percent from 32.26 trillion won to 40.79 trillion won.

Health insurance medical expenses incurred at pharmacies increased by 34.8 percent, from 17.76 trillion won to 23.95 trillion won.

“Given the recent sharp increase in healthcare spending, it is necessary to improve fiscal efficiency and reduce unnecessary spending,” Rep. Kim said. “The government must thoroughly analyze the factors behind the increase in outpatient medical expenses and drug costs and establish measures for sustainable health insurance fiscal management.”

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Over the past five years, per capita healthcare spending has increased by 35.8 percent to nearly 4.2 million won. (Credit: Getty Images)