LuluMedic partners with SVA Solutions

South Korean telemedicine and insurance firm LuluMedic has teamed up with Indian business consultant SVA Solutions to promote its comprehensive insurance plans to overseas workers.

Under the terms of the partnership, SVA Solutions will offer consultations to Korean companies already working in India, as well as those looking to do business there.

The company will also help promote LuluMedic’s K-medical Assistance for Remote Employees (KARE) insurance package as part of the arrangement.

The partnership aims to meet the growing demand for Korean companies to comply with the country’s Serious Accidents Punishment Act (SAPA). This piece of legislation is intended to ensure that South Korean firms ensure the safety and wellbeing of workers not just at home, but also abroad. It came into force for businesses with between five and 50 employees in 2024, and for businesses smaller than that in January of this year.

The partnership is the latest development in LuluMedic’s expansion. The company launched a telemedicine service for overseas Koreans in Vietnam in December 2022, and a year later acquired insurance firm Assist Card Korea, with the aim of launching its own insurance plans for travellers.

South Korea has been experiencing turbulence in its healthcare sector in recent months, due to an industrial dispute between doctors and the government.