Daehan Cable, Invests in Wearable Robot Business..."Securing New Growth Engine"

Business Agreement Signed with Robot Specialist FRT
Global Wearable Market Expected to Reach 9.8 Trillion Won by 2031

At the investment business agreement ceremony for the wearable robot project held on the 24th, Na Hyung-gyun, President of Korea Electric Wire (left), and Jang Jae-ho, CEO of FRT, are seen posing for a commemorative photo.

[Asia Economy Reporter Jin-ho Kim] Daehan Electric Wire is securing new growth engines by investing in the wearable robot sector, a future growth industry.

On the 25th, Daehan Electric Wire announced that it signed an 'Investment Business Agreement on Industrial Wearable Robot Business' with FRT, a company specializing in wearable robots.

The agreement ceremony held the day before was attended by Na Hyung-gyun, President of Daehan Electric Wire, Jang Jae-ho, CEO of FRT, and Plan H Ventures, an accelerator corporation of Hoban Group.

Wearable robots refer to robots worn on the body to augment physical strength. They assist muscle power to prevent workers from exerting excessive force, reduce fatigue, and prevent musculoskeletal disorders. They can be applied in various industrial sites such as construction, manufacturing, and logistics that handle heavy objects, as well as special environments like firefighting and military.

In particular, as safety and health management for workers has been strengthened recently and social demands for improving working environments have increased, global demand is expected to expand. In fact, global market research firm BIS Research analyzed that the global wearable robot market will grow from 500 billion KRW in 2020 to 9.8 trillion KRW in 2031.

Through the business agreement, Daehan Electric Wire seeks to enter the wearable robot field. Since wearable robots can be used at construction sites, manufacturing, and civil engineering sites, the company plans to concretize and commercialize business models through close collaboration with FRT, a leading company in the industrial wearable robot sector.

In particular, the strategy is to actively pioneer overseas markets by utilizing Daehan Electric Wire’s global network.

FRT is a specialized company holding numerous core source technologies and patents in the wearable robot field. It commercialized a solution that modularizes robot components for the first time in the world, providing customized products specialized for each work site in a short period.

A Daehan Electric Wire official stated, “With the enforcement of the Serious Accident Punishment Act, market expansion for worker safety and health is expected, and we decided to invest in wearable robots to secure competitiveness in the industrial safety field. Through active commercialization, we will preoccupy domestic and international markets and secure it as a new growth engine.”

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