Woori IO

What Woori IO does

Woori IO is a South Korea-based medical device company founded in 2016, headquartered in Jeonju, that develops non-invasive glucose monitoring technology based on Near-Infrared Spectroscopy (NIRS). Its core product, GLUCHECK, is a compact needle-free device that uses broadband spectroscopy with seven single lights (combining visible and near-infrared wavelengths) and a proprietary algorithm employing principal component analysis (PCA) and partial least squares (PLS) regression to quantify blood glucose levels from light reflected through capillaries in the fingertip. The company is also developing GLUCHECK-STRAP, a wrist-worn glucose monitor designed to replace an existing smartwatch strap and connect to smartwatches for real-time blood sugar tracking. Pilot clinical trials at Korea University Guro Hospital involving 80 participants (May–September 2023) and a subsequent 145-participant study have demonstrated high accuracy, precision, and ISO compliance.

Woori IO is pre-commercial and pursues a multi-channel go-to-market strategy that combines direct consumer-grade wearable device sales with technology licensing to consumer electronics partners. Its strategic distribution anchors are Samsung Electronics, through the C-Lab Outside program selected in Q1 2025, and Sinopharm Group Beijing Huahong (China's largest pharma and medical device distributor with ~$81B in 2024 revenue), with whom a mutual NDA was signed in March 2026 to evaluate regulatory, clinical, and commercial pathways in China. The company is pursuing regulatory approvals with Korea's MFDS, the U.S. FDA (via a California university collaboration invitation), and NMPA in China, while positioning consumer wellness wearables — which benefit from FDA's clarification that non-medical devices fall outside pre-market medical device review — as a faster initial commercial pathway than medical-grade CGM.

In January 2026, Woori IO was acquired by OSR Holdings (NASDAQ: OSRH) for approximately $10.5 million (KRW 15 billion) via share exchange, becoming a wholly-owned subsidiary. Legacy shareholders agreed to a three-year equity alignment framework requiring OSRH stock to reach $10 per share for share conversion, aligning incentives with long-term corporate performance. The acquisition provides a public-market platform and capital access, while OSR Holdings has indicated it is reviewing strategic combination of its medical device subsidiaries — a signal of potential portfolio integration. The company is led by founder-CEO Sunkie Park, CTO Wonbo Cho (NIR and Raman spectroscopy expertise), and CMO Yongseok Hong.

Name

Woori IO

Legal name

Woori IO Co., Ltd.

Website

https://woori.io

Company type

Private

Founded year

2016

Operating status

Operating

Short description

Woori IO is a South Korea-based medical device company developing non-invasive glucose monitoring technology using Near-Infrared Spectroscopy. It serves people with diabetes, healthcare providers, and wearable electronics manufacturers through its GLUCHECK and GLUCHECK-STRAP products.

Ownership category

akta.pro rank

Product category

Non-invasive glucose monitoring devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (33451)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Blood Glucose Monitoring Devices (Consumer CGM & Smart Glucometers) (CRACAQAE)

Keywords

• Non-invasive glucose monitoring
• Medical device development
• Wearable health technology
• NIR spectroscopy sensors
• Continuous glucose monitoring

Headquarters

HQ city

Jeonju

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Marketing or Sales, Operations, Personnel

Revenue model

1. Non-invasive Glucose Monitoring Devices: Sale of GLUCHECK and GLUCHECK-STRAP products for non-invasive glucose monitoring. The company is developing both consumer wellness wearables and medical-grade continuous glucose monitoring devices.
2. Medical Device Distribution: Partnership with Sinopharm for potential distribution of glucose monitoring technology in China, leveraging Sinopharm's extensive nationwide distribution network as China's largest pharmaceutical and medical device distributor.
3. Technology Licensing: Potential licensing of proprietary NIRS technology for integration into wearables and other medical devices by major consumer electronics partners like Samsung.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels4 records

Core offering

Woori IO develops and sells non-invasive glucose monitoring hardware based on Near-Infrared Spectroscopy (NIRS). Its core products — GLUCHECK (a compact needle-free glucose monitor) and GLUCHECK-STRAP (a smartwatch-strap wearable) — use 7-light broadband optical sensing and proprietary PCA/PLS algorithms to measure blood glucose from reflected light signals in capillaries, eliminating the need for finger pricks or implanted sensors.

Product overview

Woori IO offers a proprietary non-invasive glucose monitoring platform based on Near-Infrared Spectroscopy (NIRS) technology. The core product, GLUCHECK, is a standalone device that uses multi-wavelength optical sensing and proprietary algorithms for needle-free glucose measurement. The GLUCHECK-STRAP is a wearable add-on that integrates with existing smartwatches to provide continuous real-time glucose tracking. Both products leverage the same NIRS technology platform for accurate, pain-free glucose monitoring without the need for finger-pricks or implanted sensors.

Differentiator

Problem solved

Functional benefit

Brands

• GLUCHECK: Non-invasive glucose monitoring device using near-infrared spectroscopy (NIRS) technology for needle-free blood glucose measurement.
• GLUCHECK-STRAP

Products and services

• GLUCHECK A compact, non-invasive glucose monitoring device that uses needle-free broadband spectroscopy (7 single lights including visible and near-infrared) and a proprietary PCA/PLS-based algorithm to deliver accurate, reproducible, and stable blood glucose measurements without finger pricks or implanted sensors. Targeted at individuals managing diabetes and at clinical/research users needing pain-free continuous data.
• GLUCHECK-STRAP A wrist-worn, non-invasive glucose monitor designed to replace the strap of an existing smartwatch. By connecting with the user's smartwatch, it provides real-time blood sugar tracking and observation using the same NIRS platform as GLUCHECK. Targeted at health-conscious consumers, wearable early adopters, and OEM smartwatch partners.

Quantifiable outcome

• 145 participants demonstrated high accuracy, precision, and compliance with ISO standards in pilot study
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Sinopharm Group Beijing HuahongcoreChannel Partner/ Reseller/ Distributor · 19 March 2026Mutual non-disclosure agreement signed to evaluate potential regulatory, clinical, and commercial pathways for Woori IO's non-invasive NIR glucose monitoring technology in China. Sinopharm is China's largest pharmaceutical and medical device distributor with approximately USD 81 billion in 2024 revenue and the most extensive nationwide network. The partnership aims to address China's diabetes market projected to exceed $12 billion by 2032 with over 140 million people living with diabetes.
• Korea University Guro HospitalcoreStrategic or Co-development Partner · 14 October 2025Completed proof-of-concept study validating accuracy and effectiveness of Woori IO's prototype non-invasive glucose monitoring devices. Conducted pilot clinical trial with 80 participants (May-September 2023). Data supports larger confirmatory trial for regulatory approval with Korea MFDS.
• California Research UniversityminorStrategic or Co-development Partner · 14 October 2025Received invitation from a California research university to collaborate on a U.S. FDA clinical trial for Woori IO's non-invasive glucose monitoring technology, supporting future regulatory strategy in the United States.
• OSR HoldingscoreOthers · 14 October 2025OSR Holdings acquired Woori IO for approximately $10.5 million via share exchange, making it a wholly-owned subsidiary. Woori IO shareholders aligned with long-term OSRH performance, agreeing to exchange OSRK shares for OSRH common stock only if OSRH reaches $10 per share within 3 years.
• Samsung ElectronicscoreStrategic or Co-development Partner · 1 January 2025Woori IO was selected for Samsung Electronics' C-Lab Outside startup program in Q1 2025. The partnership includes non-dilutive funding, collaboration on proof-of-concept study in South Korea, and participation of Samsung employees in initial trials. The collaboration aims to advance clinical development of non-invasive glucose monitoring devices and explore integration into Samsung wearable products.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Dexcom: Global leader in continuous glucose monitoring (CGM) with multi-billion-dollar market cap and dominant share of the invasive CGM market. Directly comparable to Woori IO as the incumbent whose market share a successful non-invasive alternative would disrupt.
• Abbott Diabetes Care: Manufacturer of FreeStyle Libre, the leading flash glucose monitoring system, and is pushing into consumer wellness with Lingo. Direct CGM incumbent with global distribution and the financial scale Woori IO would need to challenge.
• Medtronic Diabetes: Major diabetes device player offering integrated insulin pumps and CGM systems (Guardian). Represents the full-stack incumbent model and a potential acquirer or competitor for non-invasive glucose IP.
• Roche Diabetes Care: Established blood glucose monitoring incumbent (Accu-Chek) with global distribution. Comparable as the legacy BGM player whose installed base and reagent stream a non-invasive device would directly threaten.
• LifeScan: Manufacturer of OneTouch blood glucose monitoring systems. A traditional BGM incumbent whose consumer diabetes business is the same end market Woori IO is targeting with its GLUCHECK consumer wellness product.
• Apple: Maker of Apple Watch with significant non-invasive glucose monitoring R&D program. The ultimate platform incumbent whose potential entry defines the consumer wearable glucose opportunity Woori IO is targeting via Samsung.
• Ascensia Diabetes Care: Blood glucose monitoring company spun out of Bayer (Contour portfolio). Comparable as a BGM-focused player with established diabetes channel relationships that a non-invasive entrant must displace or partner with.

Direct peers

• Senseonics Holdings: Developer of Eversense, the only long-term implantable CGM. A small-cap glucose monitoring innovator with FDA-approved technology, directly comparable in scale and stage to Woori IO's pre-commercial aspiration for a differentiated glucose sensor.

Emerging players

• Know Labs: Public company developing a non-invasive glucose monitor using radiofrequency spectroscopy. Closest direct competitor to Woori IO's non-invasive thesis and competes for the same first-mover regulatory positioning.
• Biolinq: Early-stage developer of a microneedle-based intradermal glucose sensor patch. Comparable emerging glucose sensing innovator pursuing a less invasive alternative to finger-prick and implanted CGM, with wearable form factor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Woori IO