KT to Target Digital Therapeutic Device Market with Catholic Central Medical Center

Kim Dae-jin, Director of the Information Convergence Promotion Institute at Catholic Central Medical Center (left), and Song Jae-ho, Vice President of KT AI/DX Convergence Business Division, are signing a business agreement and taking a commemorative photo.

[Asia Economy Reporter Eunmo Koo] KT announced on the 4th that it has signed a Memorandum of Understanding (MOU) with Catholic Central Medical Center to jointly plan and develop digital therapeutics.

Digital therapeutics began to gain attention in 2017 when the U.S. venture company Pear Therapeutics received approval from the U.S. Food and Drug Administration (FDA) for 'Reset,' an app for treating drug addiction. In South Korea, digital therapeutics targeting mental illnesses and respiratory diseases are being developed and are currently undergoing clinical trials.

According to the U.S. market research firm Grand View Research, the global digital therapeutics market is expected to grow at an average annual rate of 23.1% from 2020 and reach $19.1 billion (approximately 22.4 trillion KRW) by 2028.

Based on this agreement, KT and Catholic Central Medical Center will promote ▲technical cooperation for developing a platform specialized in digital therapeutics ▲holding digital therapeutics idea contests ▲joint development of digital therapeutics prototypes.

KT plans to apply technologies such as artificial intelligence (AI), big data, and cloud computing to develop digital therapeutics. Additionally, KT will support domestic and international marketing of digital therapeutics and integrate healthcare-related solutions it owns into new digital therapeutics.

Catholic Central Medical Center will provide research personnel and clinical infrastructure, support medical consultation and academic exchanges, and conduct joint research on digital therapeutics while playing a role in pipeline discovery.

Song Jae-ho, head of KT’s AI/DX Convergence Business Division, said, “Through cooperation with Catholic Central Medical Center, we will create various references in the field of digital therapeutics, such as addiction improvement, rehabilitation, and chronic disease management,” adding, “We expect that personalized treatment will be possible through platform-based services in the future.”

This content was produced with the assistance of AI translation services.