Daegu City-Three H, Medical R&D District Investment Agreement ... 30.2 Billion KRW Additional Investment

Construction of Two Buildings for Production Factory and Technology Research Institute

Screenshot of the 3H homepage.

[Asia Economy Yeongnam Reporting Headquarters Reporter Dongwook Park] On the 19th, Daegu City announced that on the 20th at 2 PM, it will sign an agreement with 3H Co., Ltd. (3H, CEO Jeong Young-jae), a smart acupressure bed manufacturing company, at the City Hall Annex to increase investment in the Medical R&D District of Daegu Innovation City.

3H is a leading healthcare company that develops and produces smart acupressure beds with differentiated technology incorporating heating functions, based on patents for spinal acupuncture point acupressure devices. With sales of 33.7 billion KRW in 2019, it has achieved an average sales growth of 300% and is a promising company exporting to 12 countries including the United States and China.

Through this agreement, 3H plans to invest an additional 30.2 billion KRW in a 23,870㎡ site in the Medical R&D District of Daegu Innovation City to build two production plants and technology research centers with a total floor area of 21,391㎡, as well as one promotional exhibition hall and dormitory building.

Additionally, 3H plans to sequentially hire about 300 new employees by 2023, which is expected to provide significant momentum for the local economy and job creation, which have been frozen due to COVID-19, according to Daegu City. Based on this investment, 3H will also accelerate the development of customized spinal acupuncture medical devices through biometric information measurement.

Jeong Young-jae, CEO of 3H, said, “COVID-19 has proven how important immunity is. We expect that 3H acupressure beds, which allow people to take care of their health through non-face-to-face contact, will continue to be spotlighted, and we will do our best as a representative medical device company of Daegu City.”

Lee Seung-ho, Deputy Mayor for Economic Affairs of Daegu City, said, “Through this COVID-19 crisis, we have realized the importance of a systematic advanced medical system,” and added, “We will continue to provide generous support to promising medical companies to enhance the capabilities of MedCity Daegu, which has overcome this crisis well.”

Meanwhile, 3H donated 100 million KRW to the Red Cross to help overcome the novel coronavirus infection (COVID-19). It also donated three acupressure beds to fire stations and supported about 100 3H sales agencies nationwide with goods worth about 10 million KRW each as part of win-win cooperation, actively promoting social contribution activities in the local community.