In an interview with News1 on Monday, Lee Chang-jae, Chief Executive Officer (CEO) of Daewoong Pharmaceutical, stated that in the past, we focused on treating illnesses after they occurred. Now, it must shift towards predicting and preventing diseases using cutting-edge technology. He elaborated on the company’s new growth engine, digital healthcare, and forecasted that the future medical paradigm will center around the 4Ps: Preventive, Predictive, Personalized, and Participatory.
Daewoong Pharmaceutical is actively pursuing digital healthcare as a new growth driver to boost its revenue. The company aims to evolve into a comprehensive healthcare provider, covering everything from disease prediction to management, extending beyond its traditional focus on drug development and pharmaceutical supply.
CEO Lee expressed confidence, saying that he believes it can generate over 1 trillion KRW (about 663 million USD) in revenue from the digital healthcare business within five years.
The vision to achieve this ambitious revenue target is centered on establishing a nationwide 24/7 health monitoring system. This system aims to continuously collect biometric data from daily life to predict and prevent severe health issues, such as cardiac arrest or diabetes complications.
Lee emphasized that a tragic incident, where a patient unexpectedly died from cardiac arrest while recovering at home after hospital discharge, was a powerful motivator for this initiative. He stressed that to maintain continuity of care outside hospitals, digital healthcare must become an integral part of the healthcare landscape.
As a key component of its digital healthcare expansion strategy, Daewoong Pharmaceutical is focusing on artificial intelligence (AI) based Data Driven Medicine. This approach analyzes biometric data collected from wearable devices and medical records to provide tailored treatment options for patients.
Data Driven Medicine can complement a physician’s clinical experience with objective and continuous medical data, enhancing treatment decisions. This concept is a cornerstone of future healthcare, maximizing treatment accuracy and efficiency while enabling proactive disease prediction.
Lee remarked that among the three key drivers of the AI era, Daewoong Pharmaceutical, as a biopharmaceutical company, excels at acquiring vast amounts of medical data spanning both daily life and clinical settings. He explained that by leveraging rich data collected from wearable devices, the company can provide physicians with precise treatment evidence while empowering patients to actively manage their health.
Daewoong Pharmaceutical has entered the digital healthcare arena through an open collaboration strategy, partnering with tech companies that possess cutting-edge technology in areas such as continuous glucose monitoring (CGM) and wearable electrocardiograms. The goal is to create an optimal medical environment.
Lee added that they’re not just focusing on manufacturing individual devices. Instead, they’re implementing an open collaboration strategy to build an integrated system that enables interoperability between carefully selected, world-class devices. He highlighted their smart patient monitoring system, thynC, which continuously collects vital signs such as heart rate, respiration, and temperature, analyzing them with AI algorithms and immediately alerting medical staff to any anomalies.
He continued that they’re spearheading a transition to an era where wearable devices that continuously measure biometric data like oxygen saturation and body temperature are prescribed just as medications are in hospitals. The core vision is to secure the critical window for saving lives by predicting cardiac arrests and other emergencies an hour before a patient’s condition deteriorates, providing early alerts to the patient, their caregivers, or emergency services.
Daewoong Pharmaceutical integrates proven devices such as the wearable electrocardiogram Mobicare, the ring-shaped continuous blood pressure monitor Cartbi-P, and the continuous glucose monitor Freestyle Libre into its platform. By connecting previously scattered patient biometric data and in-hospital medical information in real-time on a unified platform, the company enables healthcare professionals to deliver more efficient and precise personalized care.
Looking ahead, Daewoong Pharmaceutical plans to introduce a voice recognition-based AI solution that automatically records symptoms described by patients during consultations or discomfort they experience in daily life, integrating this data with electronic medical records (EMR).
The vast amounts of data collected through various channels will converge into WellCheck, a chronic disease management platform developed by Daewoong Pharmaceutical’s affiliate, M Circle. Initially, WellCheck began as a primary healthcare support system where patients recorded their blood pressure and diabetes levels, allowing medical professionals to monitor them. It has since expanded its scope significantly.
Lee stated that they’re evolving WellCheck to offer a personal health AI coach that comprehensively analyzes a patient’s real-time status and risk levels. He added that this will serve as a powerful tool to encourage patients to seek early diagnosis and precision medicine by raising their awareness through AI analysis.
He further noted that by assisting in the diagnosis of chronic obstructive pulmonary disease (COPD) through portable lung function testers and utilizing AI-based osteoporosis screening with chest X-rays, it can significantly improve diagnostic rates at frontline hospitals. He emphasized that this year, the company aims to complete a full-cycle healthcare ecosystem focused on faster, closer, and smarter strategies, covering everything from disease prevention to post-treatment management.
The following is a Q&A with CEO Lee.
– What sets Daewoong Pharmaceutical’s solution apart in providing pharmaceuticals, digital devices, and platforms in the medical field?
▶ Our solution is Data Driven Medicine, which leverages AI as a cornerstone of future healthcare. We focus on our strengths in data management, providing physicians with precise treatment evidence based on data collected through wearable medical devices while creating an environment for patients to actively participate in their health management in real-time.
– You’ve been expanding your lineup of devices, including wearable electrocardiograms. What’s the response from the field when combined with existing sales networks, and what’s your core device business strategy for this year?
▶ The response from healthcare providers has been overwhelmingly positive. They appreciate how we’ve simplified complex diagnostic processes, enabling earlier detection of health issues. We’re seeing strong synergy with our existing drug treatments. Our business strategy revolves around open collaboration, expanding our product lineup by partnering with top-tier domestic and international wearable technology companies rather than limiting ourselves to specific devices.
– You’re developing data platform businesses like WellCheck. How do you plan to leverage the accumulated data to enhance your business?
▶ We’re evolving WellCheck from a simple data recording solution into a sophisticated platform that analyzes accumulated data to inform patients about their current health status and potential risks through a personalized AI health coach. This will serve as a gateway to precision medicine by motivating patients to seek timely medical attention based on AI-generated insights.
– What’s your strategy for accumulating and securing medical data in the digital healthcare field?
▶ Rather than manufacturing devices ourselves, we’re focusing on building a comprehensive integrated dataset. We’re selectively distributing world-class devices while accumulating hospital medical records and wearable data over time. Our ultimate goal is to use AI for proactive screening of high-risk groups and to guide personalized care plans, leveraging this rich, multifaceted data.
☞ Lee Chang-jae, CEO of Daewoong Pharmaceutical, was appointed as president in late 2021 and successfully re-elected in 2024. Under his leadership, the company has seen robust growth. Recognized as an expert in pharmaceutical sales and marketing, he has diverse experience across sales, marketing, human resources, and management. Born in Busan, he graduated from Busan High School and Dong-A University with a degree in Chinese literature. Lee joined Daewoong Pharmaceutical in 2002, working his way up through the specialty pharmaceuticals sales and marketing divisions. In 2015, at just over 40, he became the youngest marketing executive in the company’s history. By 2021, in his mid-40s, he had risen to become CEO of the publicly listed pharmaceutical company. Lee is known for introducing evidence-based marketing strategies like the Four-Step Verification Strategy, which drove the company to record-breaking performance in the prescription market. He also spearheaded innovations in the company’s personnel system, leading to Daewoong being recognized as one of Asia’s Top 10 Best Companies to Work For in the domestic pharmaceutical industry.
△ Born in 1977 △ Graduated from Busan High School △ Graduated from Dong-A University with a degree in Chinese literature △ PM of Daewoong Pharmaceutical’s marketing team △ Sales office manager △ Head of specialty pharmaceuticals (ETC) marketing division △ Head of HR and management division △ Head of ETC division △ Vice president overseeing marketing and sales