The massage chair and healthcare industry is rapidly evolving into comprehensive wellness solution providers, leveraging sophisticated product designs, medical device certifications, and artificial intelligence (AI) technology.
According to industry sources, Seragem has adopted the slogan 'AI Wellness Home' this year, diversifying its portfolio to include spinal medical devices (Master Series), massage chairs (Pause Series), a depression treatment device called 'MindFit', water purifiers, and beauty devices, all aimed at promoting 'whole home wellness'.
In response, Bodyfriend is enhancing its 'healthcare robot' concept with new products featuring AI capabilities, such as the '733', 'Da Vinci AI', and 'Quantum AI'. The company is also running a major marketing campaign called 'AI Healthcare Robot Festa', offering discounts on flagship products through partnership cards and family bundles until the end of this month.
The financial performance of these expanding companies has shown mixed results. Seragem reported a consolidated revenue of 549.8 billion won last year, a 0.7% increase from the previous year, while its operating profit surged by 1,091% to 25.8 billion won. The company also achieved a net profit of 1.9 billion won, marking a return to profitability.
However, Seragem's revenue has not exceeded 500 billion won since peaking at 667.1 billion won in 2021 and 750.2 billion won in 2022, with figures dropping to 584.7 billion won in 2023 and 546 billion won in 2024.
A Seragem representative stated, "The massage chair market is currently a red ocean, making it difficult to significantly increase sales. We are preparing to develop and launch follow-up items for 'whole home wellness'."
Bodyfriend, on the other hand, recorded a revenue of 422.6 billion won and an operating profit of 11.5 billion won last year, reflecting a 3.3% decrease in revenue and a 49% drop in operating profit compared to the previous year.
Over the past five years, Bodyfriend's performance has been as follows: 2021 (revenue 591.3 billion won, operating profit 68.5 billion won), 2022 (revenue 522 billion won, operating profit 24.1 billion won), 2023 (revenue 419.7 billion won, operating profit 16.7 billion won), and 2024 (revenue 436.9 billion won, operating profit 22.6 billion won). After threatening to surpass 600 billion won post-COVID-19, revenue has recently stabilized around 400 billion won.
Bodyfriend has identified overseas technology exports as a potential recovery strategy. Since 2023, the company has been exporting advanced robotics technology that goes beyond simple massage functions to directly correct body posture in China.
A Bodyfriend representative noted, "After contracts with major Chinese distributors began in 2024, our overseas performance surged from 11.5 billion won in 2023 to 45 billion won last year, thanks to technology exports. We have set an overseas performance target of 80 billion won for this year."
Conversely, newer entrants are facing deeper challenges. According to the audit report of Bokjeongjehyung, which operates the Kojima brand, the company recorded revenues of 73.6 billion won and an operating profit of 600 million won last year, marking increases of 8.4% and 13.95%, respectively, from the previous year. The performance trend for Bokjeongjehyung shows revenues of 155.5 billion won and operating profit of 20.1 billion won in 2021, 114.9 billion won and operating profit of 1.7 billion won in 2022, 79.1 billion won with an operating loss of 5.4 billion won in 2023, and 67.9 billion won with an operating loss of 4.3 billion won in 2024.
Kojima attributed its return to operating profit last year to its competitive lineup focused on value-oriented products. Since February, the company has actively marketed its high-spec massage chair 'Kaiser X', which features patented technology.
A Kojima representative stated, "We are also focusing on developing new product categories, such as an EMS low-frequency massager that aids in muscle recovery before and after exercise, entering the sports recovery market. We aim to introduce a wide range of massage devices that meet consumer needs from value-oriented to premium through continuous research and development."
* This article has been translated by AI.
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