"Targeting the 450 Trillion Healthcare Market" hy Launches Personalized Health Functional Food Business

hy, Inbiogen, Xenoplan and 4 Others Sign 6-Party Business Agreement to Build Healthcare Platform

(From left) Kang Byung-kyu, CEO of Xenoplan; Han Seong-hee, CEO of Bithumb Live; Kang Ji-yeon, CEO of InvioGen; Kim Byung-jin, CEO of hy; Lee Dong-mo, Director of Chaum Clinic; and Jo Yong-hyun, CEO of IT, are posing for a commemorative photo after the signing ceremony.

[Asia Economy Reporter Eunmo Koo] hy is set to fully launch its personalized health functional food business based on a healthcare platform. The company plans to build the platform by 2023 and target the 450 trillion won healthcare market.

On the 14th, hy announced that it signed a 'Joint Business Agreement (MOU) for the Establishment of a Comprehensive Healthcare Platform' on the 13th with InvioGen, Bithumb Live, Xenoplan, IT, and Chaum.

This agreement focuses on building a metaverse-based healthcare platform. It is a one-stop platform that recommends, sells, and delivers suitable health functional foods based on information collected from genetic analysis, health checkup data, wearable devices, and more. Products are matched through artificial intelligence (AI) algorithms and expert analysis, representing a more advanced method than simple questionnaires.

hy will play a central role in the business from developing subscription-based customized products to the final delivery stage. hy owns 31 health functional food brands and proprietary material development technology. In particular, it has developed and commercialized seven individually recognized raw materials, including functional probiotics and natural substances. The Fresh Manager organization, with 50 years of regular delivery experience, is also a strength. Deliveries are made according to the cycle set by customers to prevent intake gaps and support consistent consumption. Real-time communication is possible, allowing for welfare checks on elderly individuals living alone and other senior citizens.

Kim Byung-jin, CEO of hy, stated, “Specialized companies in health functional food development, logistics, platforms, AI, NFT, and medical fields have agreed to collaborate to build a comprehensive healthcare platform. We aim to nurture this into a high value-added core business such as medical services utilizing data beyond the health functional food industry.”

Data collected on the platform will be stored in NFT form for security and traceability. There are plans to expand into additional businesses such as providing data to medical professionals and institutions in the future.

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