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🇰🇷 South Korea /Technology

South Korea Designates Five Centers to Boost Age-Tech Industry

From Hankyoreh · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources Context piece
  • South Korea's Ministry of Health and Welfare has designated five 'Age-Tech Comprehensive Support Centers' nationwide to foster the elderly-friendly industry.
  • These centers, expanded from existing innovation hubs, will provide end-to-end support, from product planning and consulting to real-world testing and commercialization for age-tech products and services.
  • The initiative aims to address the challenges of a rapidly aging society by nurturing the age-tech sector, which currently struggles with small-scale operations, and providing seniors with improved quality of life through advanced technologies.

As South Korea stands on the precipice of becoming a super-aged society, the government's proactive measures to bolster the 'Age-Tech' industry are a welcome and necessary step. The designation of five Comprehensive Support Centers signifies a strategic commitment to leveraging advanced technologies like AI, IoT, and robotics to enhance the quality of life for our elderly population.

These centers represent a significant evolution from previous initiatives, moving beyond simple usability testing to encompass the entire product lifecycle. By offering support from the initial concept phase through to market entry and widespread adoption, they aim to bridge the gap between technological innovation and the practical needs of seniors. This holistic approach is crucial for nurturing an industry that has, until now, been hampered by the fragmentation and limited resources of small businesses.

The Age-Tech Comprehensive Support Centers will provide a foundation for growth for companies with technological capabilities but lacking opportunities for demonstration, and offer seniors a chance to encounter safer and more convenient products.

· Im Eul-kiIm Eul-ki, Director of the Elderly Policy Division at the Ministry of Health and Welfare, explains the centers' role.

From our perspective at Hankyoreh, this initiative is particularly important because it directly addresses the social and economic implications of our rapidly aging demographic. While the technological advancements are exciting, the true value lies in their application to create a more supportive and comfortable environment for our elders. The focus on real-world testing in 'living labs' and facilitating commercialization ensures that these innovations translate into tangible benefits for seniors, rather than remaining theoretical concepts.

Furthermore, the government's consideration of creating a dedicated 'complex' for the elderly-friendly industry signals a long-term vision for sustainable growth. Such a hub could foster collaboration, streamline R&D, and enhance global competitiveness. This forward-thinking approach, coupled with the support for existing businesses and the creation of new opportunities, positions South Korea to become a leader in the global Age-Tech market, ensuring dignity and well-being for its aging citizens.

We will continue to support the five selected institutions so that they can fulfill their roles as regional hubs for the Age-Tech industry.

· Im Eul-kiIm Eul-ki, Director of the Elderly Policy Division at the Ministry of Health and Welfare, pledges ongoing support.
About this summary

Originally published by Hankyoreh in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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