Research, Entrepreneurship, and the Path to Beneficial Life

There is an old saying that states, “If you study, you do not have to give it away to others.” It arises from the realization that studying is a path to a decent academic foundation and career growth, and that one can only enter the world of “success” after passing through it. However, as “life is not something that one devotes to one's own self-realization, but rather something that can be completed more in preparation for others”¹, possibly the worth of study or learning rests in benefitting society or human life.
After earning his Ph.D. from the University of Michigan in Ann Arbor in 2013, CEO Kim was appointed as a professor at UNIST in 2016, and launched Recens Medical. While studying overseas, he conducted extensive research and obtained expertise at medical facilities, which sparked an early urge to create his own firm. CEO Kim admitted that he has received plenty of attention for his research articles, but joy is greater when technology meets someone's requirements and improves their lives. His thesis professor at the University of Michigan remarked, “Your research paper is excellent; therefore, you should pursue a teaching career while also starting a business.” CEO Kim stated that the suggestion prompted him to start a business as a professor.
“I won an invention competition at the University of Michigan in Ann Arbor, which motivated me to start my own firm. When I saw how the technology that I created could aid people, I felt so accomplished. But my advisor informed me that, while bright students frequently start their own enterprises, not all of them succeed. Given the quality of my writings, it was recommended that I become a professor first, and then establish a business.”
That is how CEO Kim became a part of the UNIST community.

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Han Dong-il, 『Latin Lesson』, Flow Publishing

UNIST's Global Human Infrastructure

After joining UNIST, CEO Kim took on the full-fledged challenge of starting a business based on his technology, embarking on a journey that would provide tangible benefits to more people. UNIST not only adjusted the timing of starting a business with ease, which is usually allowed only after three years of employment, but also closely examined the various huddles in the early stages of a professor's start-up, and supported him with practical programs. Due to this support, CEO Kim systematically prepared for consultation with the FDA in the U.S., clinical design, and approval process, finally receiving “De Novo approval.”
“With the support of UNIST, I participated in a collaborative program with the University of California at San Diego (UCSD). Recens Medical was one of the first companies to be sent to San Diego in the U.S., and the local experts I met told me that the technology was unprecedented, and that it would be beneficial to obtain direct feedback from the U.S. FDA. In a faceto-face meeting with the FDA in October 2018, we were advised to pursue the ‘De Novo’ approval track for medical technology with no prior case reporting. Then, we quickly proceeded to formulate a specific strategy and a partner hospital to promote clinical trials in the U.S. This is significant in many ways as our research is the first case in Korea to pursue clinical trials and obtain approval in the U.S. for a new medical device.”
CEO Kim believes that UNIST's support has enabled him to expand his global infrastructure. During his time at UCSD, he developed partnerships with world-class experts such as business development experts, ophthalmology retinal specialists, FDA regulatory experts, and patent attorneys. These relationships led to connections with experts in other fields. Furthermore, these relationships are still solid, and some are working with CEO Kim “fulltime.”
"I believe that every connection is a gift. Some of the people I met helped expedite the clinical trials, while others assisted me with the approval procedure. Whether it's “people”, “information”, or any “experience,” like working with the FDA, those interactions have filled in the gaps in the process that I went through, allowing me to get here. UNIST provided the opportunity for me to do this. To be honest, I knew what I needed to do, but it felt like I was walking through a fog.
Thus, CEO Kim underlined that UNIST's flexible start-up approach and global exposure prospects had a significant impact on the technology's successful implementation. In other words, UNIST was founded on “empathy with the founders” who sought to clearly communicate the value of technology, rather than just “technology development.” Furthermore, UNIST, which pioneered “securing competitiveness” in the global market, was undoubtedly a staunch backer of CEO Kim. In other words, UNIST's creative vision and system helped connect “research” in a path that could “contribute substantially to industry and society.”

OcuCool, A Technology that Started as a Commitment to Patients

OcuCool, which has received De Novo approval, reflects CEO Kim's core values. This is a rapid cooling anesthesia medical device for ophthalmic surgery that decreases eye irritation and external bleeding while completing the administration of pharmacological anesthesia in less than 2 minutes, as opposed to 10 to 15 minutes normally.
CEO Kim stated that his initial interest in cooling technologies sprang from his academic major. Later, as he pursued his doctorate and worked as a researcher, his connection to technology grew. CEO Kim also recalled how he naturally engaged himself in technological development through his thesis and several joint projects. He shared with us one of the experiences that inspired the story.
“There's a well-known eye facility in Michigan called the Kellogg Eye Center. One of the clinical trial's first volunteers, an older lady, was really pleased with the technology. I improved the efficiency of the treatment procedure, and, more importantly, lessened the suffering she had to endure as a patient. It was an opportunity for me to launch a business and see personally how the technology may benefit society.”
This experience is said to have provided a significant turning point in the direction of CEO Kim's research. During discussions with retinal specialists, he encountered the painful treatment process of patients who need monthly retinal injections due to diabetes and aging, and recognized the need for a technology that would allow patients to be anesthetized quickly and safely while reducing the pain and anxiety related to injections. Accordingly, CEO Kim has established convictions, such as “Technology should be a tool for people.” Now, he is validating the meaning of life “becoming more complete in preparation for others” by providing practical assistance to individuals.

Corporate Principles: “Honesty” and “Fairness”

According to CEO Kim, a “start-up” is legitimate only if “the service or product provided by the company provides value to others,” regardless of its nature. In this fashion, CEO Kim has operated the company in accordance with the standard of “maximizing value” to society (consumers, employees, and shareholders). He also stated that these operating standards provide the clearest path for the organization without being misled by numerous influences.
“We want our company's technology to be of actual help to customers, patients, and doctors. Moreover, we are working hard to guarantee that the advantages reach Recens Medical's investors and shareholders. The added value is fairly dispersed among employees. “Maximum value realization and fair distribution,” rather than “pursuit of profits,” is a key operating concept of the company.”
Recens Medical will continue to grow into a company that provides tangible benefits to people.
[UNIST MAGAZINE] also believes that CEO Kim's values of “honesty” and “fairness” will be reflected for a long time in the name “Recens Medical.”