Hancom is getting ready to enter healthcare markets as it looks to present new ecosystem model by constructing Smart Healthcare Town based on ICT (Information Communication Technology). Its goal is to reborn as a company that surpasses ‘national office’ and pursues ‘national health’.
According to related industries on the 24th, Hancom and KAIST (Korea Advanced Institute of Science and Technology) are going to construct ‘Smart Eco Village’ with a size of 560,000 pyeong in Gyeonggi-do. Their goal is to construct ‘well-being silver town’that applies high-tech ICT such as Big Data, Cloud, IoT (Internet of Things), and AI (Artificial Intelligence) to healthcare.
Smart Eco Village is a multipurpose facility that will provide all of necessary services such as living (life platform), health (wellness platform), and culture (knowledge platform). Life platform is a living facility that will be equipped with Smart Home system. It will provide rest and variety of experiences so that elderly people can stabilize their minds and souls through nature after retirement.
Major platform of this village is going to be wellness platform as it will be based on KAIST’s digital healthcare platform called ‘Doctor M’. Doctor M provides personalized health management service by collecting data through sensors that will be installed throughout this village and analyzing and processing those data. These information on health of elderly people will be combined with AI technologies in the future and will be in responsible for making early diagnoses on illnesses.
Hancom is going to examine on actively providing diagnosis and treatment services by attracting medical organizations. In order to treat illnesses such as diabetes, obesity, and problems with spine and joint that occur due to old age, it is going to discuss with large hospitals in South Korea. It is also planning to attract foreign patients by utilizing its translation solutions.
Knowledge platform will be composed of museums, galleries, and education facilities. Not only is Hancom going to establish high-tech IT experience centers but it is also planning to establish facilities where basic education can happen. Hancom is going to establish detailed plans as soon as it decides which companies and organizations are going to participate in this project.
According to a market research company called IDC, value of global digital healthcare markets increased from $84 billion in 2011 to $115 billion in 2016 and this is why Hancom is interested in healthcare markets. Hancom‘s ultimate goal is to respond to Industry 4.0 that requires all of Hancom‘s capabilities. Hancom invested $10.3 million (12.0 billion KRW) in 2016 and announced that it will develop future technologies such as Big Data, IoT, AI, and VR (Virtual Reality) with ETRI (Electronics and Telecommunications Research Institute). It chose healthcare field as a battlefield for Industry 4.0. As a ‘platform maker’ such as Smart Eco Village, Hancom is going to make new business models by attracting other healthcare companies and there is a chance that Hancom will regularize a strategy of selling its office, embedded, security, and translation solutions.
“Healthcare is the field that is expected to grow and change the fastest as Industry 4.0 is approaching.” said Chairman Kim Sang-cheol of Hancom. “By establishing partnership with universities, hospitals, and companies, we are planning to make new business models that will lead Smart Healthcare markets.”
Geographical changes in industries are also predicted through this movement by Hancom because Hancom has presented a model that connects software companies that have been focusing on ICT markets and R&D-based healthcare companies. However some suggest that differentiated treatment area is also needed along with ICT in order to surpass current concept on silver town
“We are pleased that a software company that represents South Korea is entering healthcare markets.” said Executive Director Lee Seung-kyu of Korea Biotechnology Industry Organization. “Rather than simply looking to make profits by constructing a silver town, clear goal of utilizing Hancom’s capabilities in ICT to treating senile illnesses such as Alzheimer’s Disease is required.”
Staff Reporter Jung, Yongcheol | jungyc@etnews.com