Hospital in Seoul South Korea starts accepting Cryptocurrency

Seoul: KMP Healthcare Seoul, a corporate hospital has announced that they will start accepting cryptocurrency as a form of payment for their medical services.

KMP Healthcare Seoul, which is located in Lotte Tower is one of the few businesses in Lotte buildings (mall, corporate towers) that will start accepting cryptocurrency. The cryptocurrency that will be accepted currently is LCGC (Life Care Global Coin) which are issued by Hong Kong based business GCM in partnership with Lotte.

“We plan to continue expanding our services and technology platform to enable many people in Korea to enjoy excellent medical services and help overseas patients easily access Korean medical services,” the hospital said.

In order to solve the problem of slow transaction speed of cryptocurrency, KMP Healthcare will only support LCGC initially, but they plan to add more cryptocurrency in the future.

Cryptocurrencies are legal in South Korea. This legality has made South Korea as one of the booming cryptocurrency industry in the world. In January 2018, South Korean markets owned 10% of the total Bitcoin trades in the world.

Source: Business Korea

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