SKT, SNU Hospital launch joint venture

By Yoon Ja-young

SK Telecom launched Health Connect, a joint venture with Seoul National University (SNU) Hospital, Wednesday.

Since signing a joint agreement last October, the two parties have completed setting up the new project with 20 billion won capital in just three months.

“The name Health Connect represents convergence between the core capabilities of the two companies; the hospital’s expertise in medical technology and knowhow and our strength in IT and network operational knowhow,” according to a spokesperson for SK Telecom. The mobile carrier explained that it aims to realize “smart mobile health” that connects all stakeholders of medical services including patients, medical professionals and patients’ families to medical equipment and healthcare systems anywhere, anytime. “It is committed to realizing longer and healthier lives for people by using integrated medical information for disease prevention and treatment as well as effective health management,” the spokesperson said.

In line with the outlook that healthcare services will move towards disease prevention and health management and face transformation through IT-based innovations, Health Connect defined its three main pillars of business: Development of a self-health management service model; export of IT-based digital hospitals to overseas markets; and the establishment of an integrated research and development system for the advancement of the Korean healthcare industry.

Health Connect plans to develop a health management service model this year, followed by a pilot service.

The venture will be headed by Lee Chul-hee, a professor at the hospital, and Yook Tae-sun, the mobile carrier’s senior vice president heading its healthcare business was appointed as the chief development officer. He will take charge of developing innovative technologies by converging his firm’s IT capability with the hospital’s extensive knowhow in medical care.

“Healthcare costs are rising dramatically due to the aging population and without thorough preparation, it will become a huge national burden. By offering IT-based healthcare, Health Connect will allow people to prevent diseases and manage their health, which will in turn contribute to reducing social costs and enhancing national welfare,” Lee said.

“The official launch of Health Connect marks a good starting point for SK Telecom and SNU Hospital to join hands to bring IT-driven innovation to the healthcare industry. SK Telecom will provide the best support and make all-out-efforts to produce successful results in its new, long-prepared healthcare business,” Ha Sung-min, president and CEO of SK Telecom said.