Hanwha Life Insurance Launches Contest for Dementia Prevention Solutions...Up to 150 Million Won in Support

Five Categories Including Digital and AI

On the 21st, Hanwha Life Insurance announced that it will host a contest to discover solutions for dementia prevention and mitigation.

Hanwha Life held a signing ceremony for the 'Hanwha Life WE CARE MEMORY+' partnership on the 20th at the 63 Building in Yeouido, Seoul. From the left, Dongyoung Lee, Director of Seoul Metropolitan Dementia Center, Kyungeun Lee, CEO of Hanwha Life, and Yongdeok Kim, Chairman of the Social Solidarity Bank, are posing for a commemorative photo. Hanwha Life

On the previous day, Hanwha Life Insurance signed a 'Hanwha Life WE CARE MEMORY+' business agreement (MOU) with the Seoul Metropolitan Dementia Center and the Social Solidarity Bank at the 63 Building in Yeouido, Seoul, to launch the contest.

Hanwha Life WE CARE MEMORY+ is a program that supports those with mild cognitive impairment—an intermediate stage between normal aging and dementia—and patients under age 65 diagnosed with early-onset dementia, along with their families.

This contest aims to discover innovative ideas and services for alleviating the burden of care on individuals with mild cognitive impairment and early-onset dementia, as well as their families, and for relieving dementia symptoms.

The contest covers five categories: ▲Digital & Artificial Intelligence (AI), ▲Work & Social Experience, ▲Community, ▲Program, and ▲Others. According to the level of team readiness, there are two tracks: the 'Idea Track' and the 'Implementation Track.'

In the Idea Track, 10 teams will be selected to receive a combined prize of 15 million won, and among them, the top four teams will be given an additional total of 20 million won in business support grants.

For the Implementation Track, the five selected teams will receive a total of 150 million won in grants and an opportunity to pilot their products or programs on-site.

To ensure that the discovered solutions can be promptly applied in dementia management settings, the Seoul Metropolitan Dementia Center—which oversees dementia care policies in Seoul—will participate in the evaluation process from the outset to support the integration of solutions into the field.

Eligibility for the contest is open to dementia safety centers in Seoul’s districts, social solidarity economy organizations nationwide (including social enterprises, cooperatives, and social ventures), non-profit organizations and groups, and university (including graduate) student startup teams. Any institution or team of two or more people with determination and capability to address the challenges faced by people with mild cognitive impairment or early-onset dementia and their families may apply.

Applications must be submitted by uploading a business proposal to the dedicated homepage by 5:00 PM on August 14.

Kyunggeun Lee, CEO of Hanwha Life Insurance, stated, "As a leading provider of dementia insurance, we will actively seek out solutions that can contribute to the prevention and mitigation of dementia through this contest," adding, "We will fulfill our corporate social responsibility so that society can prepare robustly for dementia, allowing my present self to give a gift to my future self."

This content was produced with the assistance of AI translation services.