SKT, KT looking to new business opportunities in digital healthcare

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Korean mobile operators SK Telecom and KT are heavily reliant on digital healthcare, which is emerging as the new growth engine for large telecommunications companies in Korea amid the rapid digital transformation sparked by Covid-19 in the medical services sector.

On Tuesday, KT signed an MOU partnership with the Catholic Medical Center (CMC) to jointly develop digital treatment devices. KT plans to mobilize its AI, big data and cloud resources to develop a platform specializing in digital treatment devices and to publish prototype devices.

This partnership will create a wide variety of digital treatment device applications for addiction improvement, rehabilitation and chronic disease management, and future platform-based services will enable personalized treatment, said Song Jae-ho, senior executive vice president of AI / Dx Convergence Business Group at KT

Late last year, SK Telecom partnered with Seoul National University Hospital to develop AI-based early diagnosis and treatment solutions for people with developmental disabilities. SK Telecom aims to use its ICT recording and sending video skills to preventively identify if children have developmental disabilities and to create a treatment process. The two see great business opportunities in digitized management, disease prevention, diagnosis and treatment, including cancer diagnosis and diabetes and high blood pressure management.

According to market research firm Grand View Research, the global digital treatment device industry is set to grow at a CAGR of 23 percent and is expected to reach $ 19.1 billion in 2028.

By Lee Jae-cheol and Minu Kim

[â“’ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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