Kakao Healthcare Clinches Contract for State-Backed Metaverse Healthcare Platform

Kakao Healthcare to Lead Digital Health Transformation

Under the 2023 Metaverse Pioneer Project, Kakao Healthcare, a subsidiary of Korean social media behemoth Kakao, is set to develop a metaverse healthcare platform. This initiative, backed by the South Korean government, aims to revolutionize personal healthcare management by shifting it into the digital sphere. The Ministry of Science and ICT and the National Information and Communications Promotion Agency (NIPA) jointly launched the project.

According to Kakao Healthcare, this digital platform will widen the scope of current metaverse healthcare applications beyond hospital promotions, medical knowledge education, and professional collaboration. It will also provide personalized musculoskeletal and mental health management services.

Addressing a Rising Health Crisis with Digital Solutions

The Korea Economic Daily (KED Global) report highlights the increasing prevalence of musculoskeletal disorders caused by repetitive movements or poor posture. As per a study, these disorders accounted for 10% of the total medical expenses in 2019, with an estimated 17.6 million patients. The metaverse healthcare platform aims to address this significant health issue.

This announcement comes on the heels of Kakao Healthcare's investment in electronic health record services company ezCaretech. Aiming to bolster its digital health management system, Kakao Healthcare acquired common shares of ezCaretech worth approximately $7.5 million in January 2023.

South Korea is emerging as a leader in metaverse and web3 adoption, with many entertainment companies, including Netmarble, Wemade, Kakao, and NCSOFT, running various blockchain projects. The 2023 Metaverse Pioneer Project, one of the first state-backed metaverse projects in the country, exemplifies the government's commitment to these cutting-edge technologies. With Kakao Healthcare now leading the way, a new chapter in digital healthcare solutions has begun, marking another significant milestone in South Korea's digital transformation journey.