- Korea will end its VAT refund for foreign cosmetic surgery patients on Dec. 31, 2025, raising concerns in the medical tourism industry.
- The tax break, introduced in 2016, has been a major incentive for foreign patients, especially those sensitive to price.
- Industry experts warn the change could drive patients to competing countries offering better incentives, potentially weakening Korea’s global appeal.
- Despite the change, analysts expect limited short-term impact due to Korea’s strong reputation, favorable exchange rates, and visa policies.
- Long-term concerns remain about losing competitiveness and transparency in pricing, which have been key to Korea’s success in medical tourism.
Source: koreaherald.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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