[Life Act 3 Companies] The Era of 'Norae Care'... Smart Robots as Caregiving Assistants

Jeon Young-cheol, Head of Division, Welthers Smart Care Co., Ltd.

With the advancement of artificial intelligence (AI) and the Internet of Things (IoT), 'smart' technology is being integrated into welfare equipment used by the elderly. Such technologically equipped devices can replace the work of traditional caregivers, thereby reducing costs for users. Especially in the context of an aging society where 'No-No (老老) Care'?elderly caring for the elderly?is becoming a reality, the need for these smart welfare products is growing significantly.

Senior total health specialist company 'Welders' imports excellent welfare equipment equipped with advanced technology from overseas. On the 19th, Jeon Young-cheol, head of Welders Smart Care, said in an interview with Asia Economy, "Considering that those born in 1960 will be classified as elderly from 2025 at age 65, it is estimated that about 19.3 million people have been added to the elderly population over the past 20 years." He added, "We will spare no effort in research and investment to develop smart robots and systems that can be used domestically and internationally in care, so that seniors, caregivers, and workers in the community can live healthy lives with joy and laughter."

Jeon Young-cheol, Head of Welder Smart Care Division.

- Please introduce yourself.

▲ I have over 20 years of experience working in banks. In 2018, I joined AlphaCo, the parent company of Welders, in the Business Strategy Division. While handling strategic management tasks for affiliated companies, I concurrently became the head of Welders Smart Care in 2022. I developed an interest in the senior business while observing the overall process of our company acquiring the senior business that LF planned to launch in 2019.

- What kind of business model does Welders have?

▲ The name WELDERS combines 'Well-Aging,' meaning healthy aging, and the main target customer group, elders aged 65 and above. The company is divided into Welders Co., Ltd. and Welders Smart Care Co., Ltd. Welders Co., Ltd. provides long-term elderly care services such as day and night care, home care, home nursing, and rehabilitation exercise. Welders Smart Care focuses on supplying and renting welfare equipment, senior-specific exercise devices, and transfer assistance robots. Both corporations were established in February and August 2019, respectively.

- Since July 2019, you have been operating a day care center based in the Seongnam area. What differentiates your day care center from others?

▲ One key aspect is the meals provided to the elderly. We employ a nutritionist to manage the diet thoroughly and prepare meals directly on-site. We provide fresh and delicious meals to ensure the health of our seniors. This commitment was recognized when we received the highest grade (A) as an outstanding day and night care center in the 2023 long-term care institution evaluation conducted by the National Health Insurance Service. Among companies certified in Bundang-gu, Seongnam City, we are the only one, reflecting our sincere dedication to service. We also focus on programs such as singing classes, cognitive activities with external instructors, and exercise programs like gymnastics, while steadily increasing our staff.

- Have you seen seniors improve their mobility while attending the care center?

▲ There was an octogenarian who had undergone two major surgeries on the right and left hip joints due to two falls and had difficulty with daily activities. This person has been with us since the early days of our center. Thanks to consistent participation in strength training programs, their balance and walking speed have greatly improved. Their functional arm reach increased from 5 cm to 10 cm, and the time to walk 5 meters decreased from 13 seconds to 7.5 seconds.

- Among home services, there are care and nursing services. Which one is more widely used?

▲ Home care is a service where a certified care worker visits the elderly’s home to provide one-on-one support for daily living, whereas home nursing involves medical personnel visiting to provide medical services. However, awareness of home nursing is relatively low. Many elderly people with long-term care grades are unaware that they can use home nursing services. As a result, while the number of home care staff is increasing, the number of home nursing staff is decreasing.

- As the elderly population grows, caregivers will gradually decrease. How does Welders plan to respond to this change?

▲ The average age of care workers in Korea has already exceeded 60 years in 2023, up from 58.5 years in 2019. It is expected to rise to about 68.6 years in 10 years. Therefore, securing care personnel and utilizing assistive robots will become very important. To this end, we are conducting a care personnel training project focused on rehabilitation in collaboration with Suwon Women’s University.

Additionally, we import excellent care products from overseas and supply them to over 400 facilities, including domestic day and night care centers. We introduced high-quality products from Paramount, a Japanese bed company with a 74-year tradition, registering them as welfare equipment in Korea in May 2022. We also have European TUV-certified 'Alexia' strength training products and hydraulic exercise equipment that minimizes injury risk during workouts. We imported the transfer assistance robot 'Hug,' which helps bedridden seniors with movement and dressing, and supplied it to over 80 facilities, including national veterans’ nursing homes.

Elderly person using the mobility aid device 'Heogeu' and Jeon Yeongcheol, the head of the department, assisting him. Photo by Wellders

- Besides operating care centers and selling welfare products, do you engage in other activities?

▲ We operate our own specialized rehabilitation care education program. In collaboration with Suwon Women’s University, we have been providing a rehabilitation exercise curriculum since 2022. We train professional caregivers such as nurses, nursing assistants, care workers, and social workers to enable them to provide differentiated services. The program is divided into basic courses like joint contracture prevention exercises and advanced courses such as disease-specific exercise program design. Since the year before last, we have also been working on developing a non-face-to-face home nursing platform that connects beneficiaries with nursing assistants.

- What are the company’s future plans?

▲ Currently, our affiliate AlphaCo M&S is conducting an emergency safety assurance service in partnership with SK Shieldus. Based on this, we are striving to integrate IoT-based business into our current business portfolio. We are also exploring ways to export Korea’s excellent products through our company’s clients. Regarding the emergency safety assurance service, a Japanese welfare equipment company has shown interest and expressed a strong intention to import, and discussions on export-import processes are underway with a confidentiality agreement in place.

- Do you have plans to expand your centers?

▲ We are based in the Seongnam area and have secured and signed a contract for a candidate site to open a second branch in the Dongbaek district of Yongin City, Gyeonggi Province, in March. We are currently in the process of changing the site’s designated use.