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Robotic companions for the elderly in Korea

Korea ranks fourth in the deployment of industrial robots across the globe. It is on the fast track to have the world’s largest stock of robots by 2016. Korea is also home to 6 million people above the age of 65. Korean innovators are now bringing robots into the homes of the elderly. Spire Research and Consulting shared its insights, published on the US Consumer Electronics Association’s blog. The robotics industry in Korea reached a total revenue of KRW2.1 trillion in 2012 (approximately USD2 billion) – a two-fold increase in size since 2009. More than 600 domestic robot manufacturing companies operate within the country, employing more than 34,000 people. The government plans to spend KRW7 trillion (approximately USD6.3 billion) by 2018 in this industry. At the same time, Korea’s silver market will grow to eight million seniors by 2020. There are many companies catering to the unmet needs of the elderly. GoCart – a Korean-made robot – started distributing meals in elder ca