Zikto Signs MOU with Samsung C&T

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Healthcare Startup ‘Zikto’ (CEO: Kyung Tae Kim) signed a Memorandum of Understanding with Samsung C&T on November 17th to enter the fashion market with its wearable band.

With this recent strategic partnership, the newly launched accessory brand Ravenova from Samsung C&T would provide the designs for the straps for ‘Zikto Walk,’ a gait-correcting wearable band. By allowing the users to change the straps would open up a new market in the fashion industry with its new appeal as a fashion item.

Zikto’s Director, Han Suk Suh,said, “Zikto Walk is a healthcare wearable band that corrects asymmetric posture with its gait-correcting feature. The collaboration between the technological expertise of Zikto Walk and Samsung C&T’s fashion brand Ravenova would be able to satisfy both fashion and health needs of the consumers.”

This recently signed partnership between Zikto and Samsung C&T also implies further collaboration, such as joint initiative in R&D and collective participation in global exhibition.

The fashion division of Samsung C&T announced its wearable platform brand “the humanfit” in last September, hinting at its initiative to build wearable device industry through collaborations with startups. Officials from the fashion division of Samsung C&T stated, “We expect bright synergy effect from this MOU as our fashion brand collaborates with the promising startup company like Zikto.”

Recently, there has been an increase in the number of global cases, in which wearable device brands strategically team up with fashion brands to enter the fashion market. For instance, Fitbit launched ‘Fitbit Flex’ with Tory Burch, and Apple showcased ‘Hermes Apple Watch” with Hermes.

Zikto has been selected to be a part of 2014 Contents Korea Lab Program sponsored by the Ministry of Culture, Sports and Tourism and Korea Creative Contents Agency. Up to this point, the program has selected and sponsored 43 startup companies in their third year of market entry.

Inspired by Platum

Joyce (Jung Min) is a senior at Georgetown University’s School of Foreign Service, majoring in Global Business. In her free time, she loves to drink coffee, listen to music and explore downtown DC. Joyce can be reached at jmyeo@techforkorea.com.

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