Startup 'FRT Robotics' CEO Jae-ho Jang

Companies' inquiries about introducing wearable robots surge

 

[The Financial News] "A tremendous amount of national tax has been invested in the research and development (R&D) of wearable robots. As a core member of this R&D, I want to succeed in commercialization, create the best product, create jobs, and contribute to our society."

 

On the 22nd, Jae-ho Jang, CEO of wearable robot startup 'FRT Robotics', met at the Seoul office in Jagok-ro, Gangnam-gu, and said, "This year, the number of companies in various fields that want to introduce wearable robots is rapidly increasing."

 

FRT Robotics visited and consulted with various companies such as furniture, electronics, displays, and power plants until last week.

 

In the future, the use of wearable robots is expected to become active in various fields such as manufacturing plants, logistics centers, civil engineering and construction hospitals.

 

According to US market research firm BIS, the global wearable robot market is expected to grow from $96 million (108.4 billion won) in 2016 to $4.65 billion (5,254.5 billion won) in 2026. In addition, Japan's Fuji Keizai Research Institute predicted that the market size, which was 1 trillion 943.8 billion yen (20,177.2 billion won) in 2019, would reach 4 trillion 546.4 billion yen (47,193 billion won) in 2025.

 

■ Contains only the necessary functions

FRT Robotics plans to announce the 3rd generation model of the industrial wearable robot 'StepUp' in April. The strength of the 3rd generation of 'StepUp' is that it has achieved modularization, resulting in lighter weight and lower cost.

 

StepUp can be made with only the functions required by companies that want to introduce wearable robots. After visiting the work site, checking and analyzing the type of work and the site, only the necessary parts are inserted into the exoskeleton of the wearable robot. In this way, the price can be lowered and the weight can be reduced as much as unnecessary parts are removed. The 2nd generation of StepUp weighed 4.5kg, but the 3rd generation is expected to be as light as 2kg using new materials.

 

CEO Jae-ho Jang explained, "In the past, consulting alone took a year and cost 300 million won, but now it is possible to design a customized wearable robot in 3 months for 20 million won."

 

The material cost of the wearable robot that CEO Jang first developed when he was at the Korea Institute of Industrial Technology was about 130 million won. StepUp is less than 1%.

 

FRT Robotics' technological prowess is also exceptional.

 

He created Korea's first hydraulic wearable robot at the Korea Institute of Industrial Technology in 2014. He has accumulated know-how through R&D for over 10 years.

 

FRT Robotics has sensor technology that recognizes the user's intentions and technology that receives signals from the sensors to support muscle strength. It also possesses circuit design technology using hydraulics, motors, and springs, as well as exoskeleton design technology that allows for movement as freely as human joints.

 

■ Optimal rather than the best technology

Startup 'FRT Robotics' CEO Jae-ho Jang

Companies' inquiries about introducing wearable robots surge

 

[The Financial News] "A tremendous amount of national tax has been invested in the research and development (R&D) of wearable robots. As a core member of this R&D, I want to succeed in commercialization, create the best product, create jobs, and contribute to our society."

 

On the 22nd, Jae-ho Jang, CEO of wearable robot startup 'FRT Robotics', met at the Seoul office in Jagok-ro, Gangnam-gu, and said, "This year, the number of companies in various fields that want to introduce wearable robots is rapidly increasing."

 

FRT Robotics visited and consulted with various companies such as furniture, electronics, displays, and power plants until last week.

 

In the future, the use of wearable robots is expected to become active in various fields such as manufacturing plants, logistics centers, civil engineering and construction hospitals.

 

According to US market research firm BIS, the global wearable robot market is expected to grow from $96 million (108.4 billion won) in 2016 to $4.65 billion (5,254.5 billion won) in 2026. In addition, Japan's Fuji Keizai Research Institute predicted that the market size, which was 1 trillion 943.8 billion yen (20,177.2 billion won) in 2019, would reach 4 trillion 546.4 billion yen (47,193 billion won) in 2025.

 

■ Contains only the necessary functions

FRT Robotics plans to announce the 3rd generation model of the industrial wearable robot 'StepUp' in April. The strength of the 3rd generation of 'StepUp' is that it has achieved modularization, resulting in lighter weight and lower cost.

 

StepUp can be made with only the functions required by companies that want to introduce wearable robots. After visiting the work site, checking and analyzing the type of work and the site, only the necessary parts are inserted into the exoskeleton of the wearable robot. In this way, the price can be lowered and the weight can be reduced as much as unnecessary parts are removed. The 2nd generation of StepUp weighed 4.5kg, but the 3rd generation is expected to be as light as 2kg using new materials.

 

CEO Jae-ho Jang explained, "In the past, consulting alone took a year and cost 300 million won, but now it is possible to design a customized wearable robot in 3 months for 20 million won."

 

The material cost of the wearable robot that CEO Jang first developed when he was at the Korea Institute of Industrial Technology was about 130 million won. StepUp is less than 1%.

 

FRT Robotics' technological prowess is also exceptional.

 

He created Korea's first hydraulic wearable robot at the Korea Institute of Industrial Technology in 2014. He has accumulated know-how through R&D for over 10 years.

 

FRT Robotics has sensor technology that recognizes the user's intentions and technology that receives signals from the sensors to support muscle strength. It also possesses circuit design technology using hydraulics, motors, and springs, as well as exoskeleton design technology that allows for movement as freely as human joints.

 

■ Optimal rather than the best technology

CEO Jae-ho Jang recalled the past, saying, ""I thought that the best technology and parts would lead to many sales, but I missed what the market and customers wanted.""

 

FRT Robotics has been attracting attention for its excellent technology since its inception. Founded in 2015, it received a total of 1.3 billion won in investment, including 300 million won from Korea Science & Technology Holdings and 500 million won from K& Investment Partners in 2017. In addition, in 2017, it won the grand prize at the Ministry of Science, ICT and Future Planning's open competition with a wearable robot called 'Future Firefighter Iron Man'. In addition, he participated in and won several competitions, including the Patent Management Grand Prize in 2018.

 

However, there was a big difference between the laboratory and the market. In the laboratory, success was achieved by bringing out the best performance with the best parts. However, in the market, you have to consider whether the performance and price that customers want are appropriate.

 

Although robots are replacing humans in many industrial sites, there are still parts that require human hands. The wearable robot used at this time can help workers work with minimal force and prevent musculoskeletal disorders.

 

Most wearable robots in Korea are for medical purposes such as rehabilitation patients, and there are no noticeable companies that make wearable robots for industrial workers except for Hyundai Motor Group.

 

CEO Jang predicted, "The market has not yet matured, so if venture companies like us go around and form the market, small and medium-sized enterprises and even large companies will participate in the future, and the pie will grow even bigger."

 

He also said, "It's still a B2B, B2G-oriented product, but later we plan to make it cheaper and lighter so that individuals working in agriculture or the food service industry can buy and wear it themselves."