Korean 3D tech firm Koh Young looks to US medical robot market

Koh Young Technology Inc., a South Korean developer of 3D optical inspection devices used in electronics manufacturing, is slated to enter the US medical robot market.

The company has registered for US Food and Drug Administration (FDA) approval for its surgical robots, CEO Koh Kwang-il said in an interview with The Korea Economic Daily on March 15.

“Koh Young has been preparing to enter the US for more than a decade. Once we win the permit by the second half of 2024, we will start using the robots in the US for spine surgeries,” he said.

Listed on the junior bourse Kosdaq, Koh Young is providing semiconductor inspection equipment to about 3,200 global clients including Tesla and Siemens. 

The company is further strengthening its foothold in the local medical robot market.

Koh Young’s robot Kymero has been used in major hospitals in Korea, such as Samsung Medical Center, for more than 300 brain surgeries since 2021. 

The artificial intelligence-powered robot uses a high-precision optical sensor to navigate the patient’s brain, without physically touching nerves and arteries. It can also implant electrodes deep in the brain to treat Parkinson’s disease. 

The robot's body, sensors, and software are all made in-house, the CEO said.

The company sees growing demand for its product, particularly in the electric vehicle and automation industries. 

“Due to rising labor costs, more companies are purchasing Koh Young’s equipment that guarantees quality and optimizes the manufacturing process. There is also rising demand for inspection of chips used in EVs,” the CEO said.

Smart factory management systems are also among Koh Young’s future growth engines. The systems collect production data in real-time to minimize defects. 

The company’s revenue increased 11.3% on-year to 275.4 billion won ($209.1 million) in 2022, and the operating profit rose 7% to 44.2 billion won during the same period. The revenue is expected to surge from 2025 with growth in medical robot sales in the US, the CEO said.

Koh Young's stock price, which hovered around 13,000 won early this year, has jumped to 15,000 won with institutional investors’ net purchases.

CEO Koh is one of the first-generation researchers in the Korean robotics industry. He studied at Seoul National University and earned a doctorate in robotics engineering from the University of Pittsburgh. He previously worked at the robot development division of GoldStar, which is now Korea’s LG Electronics Inc., and founded Koh Young in 2002.

Write to Hyung-Chang Choi at calling@hankyung.com

Jihyun Kim edited this article.