[Click e-Stock] "Koh Young Ramps Up Global Medical Market Expansion with Surgical Robot"

On May 8, Leading Investment & Securities announced that Koh Young Technology is set to actively target the global market with its world-first brain surgery medical robot, "Genient Cranial." After obtaining approval from the US FDA, the company will begin installations at local hospitals in the United States starting in May, marking the official start of exports.

Koh Young was established in April 2002 and listed on the KOSDAQ market in June 2008. The company manufactures 3D solder paste inspection systems for electronics and semiconductor production, 3D component placement and soldering inspection systems, and semiconductor substrate bump inspection systems. As of 2024, 3D component placement inspection equipment accounts for 48.6% of its sales, 3D solder paste inspection equipment for 36.7%, and other segments for 14.7%.

Yoo Sungman, a researcher at Leading Investment & Securities, stated, "In January this year, Koh Young Technology received final approval from the US Food and Drug Administration (FDA) for its brain surgery medical robot, 'Genient Cranial,' which is the global brand name for Chaimero."

"Genient Cranial" is the world's first bed-mounted robot, which minimizes relative movement between the robot and the patient, ensuring high stability and rigidity and thus achieving precision at the target site. During surgery, the robot accurately locates positions in real time, and its superior directional accuracy enables guidance along precise surgical paths. This technology allows for real-time tracking and visualization throughout the surgery, thereby enhancing patient safety in advanced neurosurgical procedures such as deep brain stimulation (DBS), stereoelectroencephalography (SEEG), biopsy, and shunt procedures.

This robot is expected to reduce surgery times for complex conditions such as epilepsy and Parkinson's disease, as well as decrease postoperative complications for patients. Yoo explained, "Domestically, since its first delivery to Severance Hospital in 2020, it has been used in over 500 surgeries at about 10 major hospitals to date. The company is now making a full-scale entry into the US market, which accounts for about 60% of the global medical robot market."

Following the US, Koh Young is also preparing to enter the Japanese market. Yoo stated, "In Japan, the company has completed the PDMA approval application and is aiming for sales approval by July this year. Based on this, full-scale sales in Japan are planned." With approximately 1,700 neurosurgery hospitals in Japan, it is highly likely that this will become Koh Young's second key market. In addition, the company plans to apply for approval from the National Medical Products Administration (NMPA) in China in October this year in preparation for entry into the Chinese market.

Meanwhile, Koh Young experienced sluggish performance last year. Yoo analyzed, "Last year's sales amounted to 202.5 billion KRW, down about 10.2% from the previous year, while operating profit was 3.3 billion KRW, a decrease of about 83.7% year-on-year." This was largely due to reduced investment in downstream industries in its main industrial inspection equipment business. However, he added, "This year, the core business is expected to recover, and with the start of exports of surgical robots, sales are projected to increase to 246.2 billion KRW and operating profit to 22.1 billion KRW, representing increases of about 21.6% and about 565.2%, respectively."