[Asia Economy Reporter Hyunseok Yoo] Neofect, which operates rehabilitation medical devices and home rehabilitation solutions, is enhancing its product lineup and platform competitiveness targeting the rapidly growing silver care market.
On the 29th, Neofect announced that it will undertake two national projects for the ‘Development of Intelligent Care Display Appliances for the Elderly’ and the ‘Development of Quantitative Frailty Indicator Measurement and Non-face-to-face Silver Care Platform.’ These research projects will receive a total funding of 5.4 billion KRW over 5 years and 3 billion KRW over 4 years, respectively.
The ‘Intelligent Care Display Appliance Development Project’ is an AI (Artificial Intelligence)-based customized care service development project aimed at improving the quality of life for the increasing elderly population, preventing diseases caused by aging, and supporting enjoyable non-face-to-face communication in lives disrupted by COVID-19. The Korea Institute of Design Promotion leads the project, with Neofect, S-Cube Design Lab, and Blessing Eco collaborating as participating organizations. Neofect is responsible for developing the care display product, care content, and commercialization through demonstration in nursing facilities.
Through the ‘Intelligent Care Display,’ the mental and physical health status of senior users will be monitored, and customized rehabilitation programs will be supported. It will not only assist in physical function decline but also link to a remote medical platform to enable smooth medical support services at home.
The care display product will be integrated with household appliances such as refrigerators, washing machines, vacuum cleaners, TVs, and communication devices like PCs and smartphones to implement smart home services. Additionally, it aims to secure competitiveness in the silver care market by providing services covering the entire daily life of the elderly, including personalized diet management, exercise management, games, communication, health monitoring, and phased medical linkage with hospitals.
The other national project is the development of a low-cost IoT (Internet of Things) device capable of quantitative frailty indicator measurement and prediction, and a non-face-to-face elderly-medical staff home silver care platform. Weber Instrument, a Neofect subsidiary specializing in magnetic field-based electronic medicine, leads the project, with Neofect and Chungbuk National University Hospital participating, and the demand institution is Long Life Green Care, a Neofect subsidiary specializing in silver care.
A Neofect official stated, “Through these two national research projects related to silver care, we will develop ‘non-face-to-face environment-based, life-close, and intelligent care service technology’ that advances one step beyond existing senior care technologies. We will develop a non-face-to-face home silver care platform capable of remote communication with institutions such as hospitals, day and night care centers, and nursing hospitals, and diversify products and services through new business models linked with home appliances.”
He added, “As we are rapidly entering a super-aged society, silver care and elderly care businesses will undoubtedly become future growth industries. We are accelerating technology development and business cooperation related to silver care together with subsidiaries and affiliates engaged in day and night care centers, electronic medicine, and medical device businesses.”
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