Memorandum Links Delaware Small Business to Top Health Care Firms in South Korea
NEW CASTLE, Del. – An agreement signed this week will strengthen ties between a promising Delaware small business and leading firms in South Korea, as well as the nation’s official tourism agency.
Delaware Secretary of State Jeff Bullock hosted a Memorandum of Understanding (MOU) signing ceremony Monday to formalize the partnership with Delaware small business My Med Choices, Inc. and the Korea Tourism Organization (KTO), Asan Medical Center, Hyundai Aesthetics Plastic Surgery and Juwon Healthcare.
KTO has named My Med Choices their official partner for medical tourism in South Korea. This is a comprehensive collaborative agreement with KTO providing marketing and promotion for My Med Choices. In addition, Asan Medical Center, Hyundai Aesthetics Plastic Surgery and Juwon Healthcare of South Korea have partnered with My Med Choices to provide patient care for My Med Choices patients worldwide seeking the specific procedures they provide.
In Korean business practices, an MOU ceremony is the first step to doing business. Eleven top executives from the Korean organizations traveled to Delaware to take part in the ceremony. Mr. Steve Young, Executive Director of KTO, brought the delegates to Delaware. The Asan Medical Center delegation was led by Mr. Ki-Dong Choi, Administrative Director. Mr. Enes Kay, Director, of Hyundai Aesthetics Plastic Surgery represented Hyundai.
“This is a tremendous win for Export Delaware, the First State and the SBA. We love to see these kinds of partnerships form because we know they will yield long-term growth for our small businesses. This is the goal of each of our international business trips,” said Delaware Secretary of State Jeff Bullock.
This activity follows up a recent State-led business trip to South Korea in October 2019. Export Delaware, the State’s official export resource for Delaware small businesses, plans business trips around the world to help companies grow their exports. These trips are funded through the U.S. Small Business Administration State Trade and Export Promotion (STEP) Grant. Dr. Mary Swenson, founder and CEO of My Med Choices, participated in the trip to South Korea, where she was introduced to KTO, Asan Medical Center, Hyundai Aesthetics Plastic Surgery and Juwon Healthcare.
Through the work of Export Delaware and the State’s in-country trade representative in South Korea, KBSI, Inc., My Med Choices was introduced to top health care providers and organizations on the trip and had one-on-one meetings with the executives and decision-makers. This is how Export Delaware works with small businesses to help them make international connections that lead to long term partnerships and export sales. Many of Delaware’s small businesses would be unable to secure these high-level meetings on their own and Export Delaware is critical in helping them penetrate new markets and close business deals.
“Our honored guests at the MOU ceremony were from the Korean Tourism Organization, Mr Steve Young and Asan Medical Center Ki-Dong Choi and Enes Kaya from Hyundai Aesthetics Plastic Surgery, all whose healthcare satisfaction has been consistently ranked among the highest in the world” says Dr. Swenson of My Med Choices.
Asan Medical Center is the leading hospital in the world for organ transplants, one of the top hospitals in Asia, and the most famous in South Korea. This organization has 27 facilities and is on the cutting edge for cancer, cardiac, organ transplants, and health screening.
Hyundai Aesthetics is a world-renowned, leading provider of plastic surgery. At Hyundai they combine medical science with art to create beauty that looks natural.
“What we witnessed today is the start of an international business deal that is sure to be profitable for all parties involved. This is what makes our international efforts worthwhile — to see Delaware’s small businesses, especially minority and women-owned businesses, secure large sales,” says Beth Pomper, Director of Export Delaware. “This was very important as a total of five Delaware businesses will benefit from the partnership: My Med Choices, Data Valued, Patient Sortal, Cover & Rossiter, and Potter Anderson Corroon.”
Indeed, the international growth of one Delaware small business has a big ripple effect. Patient Sortal will sell their software to the international partners in this agreement, and Data Value will provide the data analytics. My Med Choices’s law firm, Potter Anderson Corroon, and their accounting firm Cover & Rossiter, with their particular expertise in South Korea, are also involved.
“The Delaware export program has opened the international healthcare market to My Med Choices. My business would have never had this global opportunity without the Secretary of State Jeff Bullock and Beth Pomper. Both are such forward thinkers and innovators,” says Dr. Swenson of My Med Choices. “My Med Choices has partnered with over seven Delaware based businesses creating over 120 jobs in Delaware. We feel it’s not just about the opportunity but the responsibility of being good global citizens.”