The telepresence robots market in South Korea is anticipated to reach $xx million by 2023, with a CAGR of around xx% during the forecast period. The base year considered for the market study is 2018. The forecast period is between 2019 and 2023.

​As per the Bank of Korea, the economic graph of South Korea, Asia’s fourth-largest economy, fell 1.4% in Q1 2020, (January-March) due to the Coronavirus pandemic compared to the Q4 2019. This is the first time since the financial crisis of 2008, the country’s economy has recorded its most severe contraction. However, on the positive note, several industry experts are suggesting that South Korea has become one of few countries to succeed in ‘flattening the curve,’ and it has largely managed to bring the epidemic under control. Not long ago, South Korea was observing a peak of new Coronavirus cases, and was suffering from worst outbursts after China. Though, after almost 2 months, the country has only reported a single-digit number of new cases.

South Korea is the world leader in medical robotics. Several companies such as Meere Company Inc, NT Research Inc, and others have developed robots to be used in the life sciences industry. When several countries are calling up the retired healthcare professionals to supplement their shortage of existing hospital staff, countries such as South Korea, have been utilizing robots for deliveries, patient examinations, and sanitation. For instance, South Korea has awarded a contract to Robotemi, an Israel-based company, for its Temi personal robot to help reduce exposure to Coronavirus. Robots in South Korea have been used to measure temperatures and distribute hand sanitizer.

The report focuses on the impacts of the Coronavirus outbreak on South Korea as a country as well as its telepresence robots market. Overview of Coronavirus situation in South Korea, PEST analysis of the country, along with a snapshot of its economy, has been discussed in the report. Further, the government’s proactive steps to control the outbreak of the pandemic, such as the provision of several economic stimulus packages have also been studied in detail. With respect to the telepresence robots market in the country, regulations controlling the industry, promising players that are shaping the market, recent developments, and the impact of the Coronavirus on applications of telepresence robots in South Korea has been studied.

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