Lee Seok-ho, CEO of KwangBio, "Flexible OLED Patches Easily Available at Supermarkets and Convenience Stores" [Biz Leader]

Seokho Lee, CEO of Kwang Bio.

[Asia Economy Reporter Jang Hyowon] “Flexible OLED patches will be easily available at supermarkets and convenience stores starting from the second half of next year.”

Lee Seok-ho, CEO of GwangBio, met with reporters at GwangBio’s office in the KAIST Technology Business Incubation Center (KAIST TBIC) and revealed plans to launch flexible OLED patches as general products in the second half of next year.

GwangBio is a specialized company in medical and beauty devices using ultra-thin flexible OLEDs. The company acquired the ‘flexible OLED’ technology developed by Professor Choi Kyung-chul of the Department of Electrical Engineering at KAIST and created optical patch products utilizing this technology. KAIST holds a 10% stake in GwangBio through an in-kind contribution of the patented technology.

The optical patch developed by GwangBio is a product that combines ultra-thin OLEDs that bend with bandages or foam used for wound treatment. Composed of thin OLEDs, the thickness is less than 1 mm, and the weight is under 1 gram. Despite this, it can operate for over 300 hours continuously and functions even when bent within a radius of 20 mm, allowing it to be attached to various parts of the body. Additionally, it operates only below 42°C, eliminating the risk of low-temperature burns.

Light-based treatment and beauty technologies such as OLED have long been utilized and have formed a market. According to Medical Insight, the market size for ‘energy-based beauty medical devices and consumables’ is expected to grow from $1.7 billion (2.29 trillion KRW) in 2018 to $2.3 billion (3.1 trillion KRW) in 2023. Among these, skin regeneration treatments are anticipated to account for more than 50%, exceeding other treatments combined.

There is increasing demand for procedures with short recovery times and immediate effects, as well as a preference for minimally invasive treatments. Furthermore, the safety and efficacy of energy-based beauty devices are widely recognized, contributing to market growth.

CEO Lee said, “Existing LED products use large equipment to irradiate multiple areas, which reduces efficiency, but the flexible OLED optical patch can directly irradiate the wound area, reducing side effects and enhancing user accessibility and mobility.” He added, “The therapeutic effects have also been verified through SCI-level papers jointly researched with KAIST and Seoul National University Bundang Hospital.”

GwangBio plans to produce the optical patch products at Romical, a display company. GwangBio received investment from Sewon ENC and is preparing flexible OLED manufacturing facilities by adding processes to Romical’s existing cleanroom-based OLED dedicated line. The production capacity (CAPA) is at a scale capable of producing 10 million ultra-thin flexible OLEDs (370x470) annually.

Lee stated, “Initially, we plan to register and launch the flexible OLED patch as a beauty and personal care product. Subsequently, to enter the medical device sector, we have completed registration and approval application with the U.S. Food and Drug Administration (FDA), and from 2024, the product will be available for use in pharmacies and hospitals.”

Additionally, GwangBio plans to collaborate with various companies that can apply flexible OLED technology. If a company can apply flexible OLED to its products, GwangBio will supply the flexible OLED.

Lee said, “There is a domestic company that makes a product called ‘Skin Closure,’ which seals surgical sites without needles or thread, and we are currently collaborating with them. We are also expanding our business by producing prototypes with other finished product companies, and in the future, GwangBio will become a flexible OLED foundry company.”

Meanwhile, Lee Seok-ho, CEO of GwangBio, previously worked at Hyundai Group and Sungwoo Group, served as CEO of Cheongho Nice for nine years from 2010, and was appointed CEO of GwangBio earlier this year.

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