Neofect Changes Name to "Dynamic Solution" to Become a Comprehensive Robotics and Materials Company

Healthcare robotics company Neofect has changed its name to Dynamic Solution and is pursuing a transition to become a comprehensive robotics and materials service company.

Dynamic Solution announced on March 26 that the agenda to change the company name was approved at the 16th Annual General Shareholders’ Meeting held at the Gyeonggi Business Growth Center in Seongnam, Gyeonggi Province.

This name change is part of the company’s strategy to diversify its business portfolio. The company is moving away from a focus on rehabilitation robotics and expanding into industrial robotics, working to transform itself into a specialized robotics company.

Additionally, through an international joint technology development project, the company continues to conduct commercial research on brain-computer interface (BCI) technology that connects brainwaves and robots. Based on the capital secured last year, Dynamic Solution also plans to officially enter the inorganic materials business this year. Through these initiatives, the company aims to establish itself as a comprehensive service provider that combines robotics and materials.

The company is also building production infrastructure. Dynamic Solution is pushing forward with an investment in production facilities in Ulju County, Ulsan. Construction is scheduled to begin in early April, with completion targeted for the second half of this year. The company stated that it has already secured supply agreements with major domestic conglomerates and expects to generate revenue as soon as the factory becomes operational.

Baek Myunghoon, CEO of Dynamic Solution, stated, “We decided to change the company name to leap forward as a new robotics and materials company based on our robotics technology and magnesium silicate business rights. The Neofect brand will be retained for the rehabilitation segment, and we will build a foundation for sustainable growth through new business models that connect robotics and inorganic materials.”

At the shareholders’ meeting, all major agenda items were approved as originally proposed, except for the reverse stock split, including the approval of the 16th-term financial statements, amendments to the articles of incorporation, appointment of directors, approval of compensation limits for directors and auditors, revisions to the executive retirement pay regulations, and the granting of stock options.

Furthermore, new business objectives were added, including industrial robotics, switchgear, electric automatic control panels, telemedicine business, development, sales and services of medical database-based programs, and the development and supply of products and services related to artificial intelligence (AI), virtual reality (VR), and augmented reality (AR). The company also outlined its future direction for business expansion. The proposed 5-to-1 reverse stock split, which was not approved, will be resubmitted at a future extraordinary shareholders’ meeting after adjusting the ratio.

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