The Severance Hospital of the Yonsei University Health System(YUHS) and China HIKING Group as a joint business signed an agreement to establish Severance-Qingdao Hospital within the global health city in Qingdao, Shandong, China. Chung Namsik, CEO of YUHS, and Zhang Jianhua, chairman of Hiking Group were participating this event. Both companies will spend about 300 billion won to be equipped with 1,000 beds in the first stage. The Severance Hospital will provide strategies and knowledge in outstanding medical system and management skill, as well as the architectural features are supposed to be reflected in the new hospital. Severance CEO Chung said, 'This is the first occasion for Korea to expand a general hospital overseas. Not only Severance but also Korean medicine is recognized around the world.'
