Aim to become one of the top 100 global medical device companies
DAIWHA Co., Ltd Device, a specialized company that has walked a single path for 41 years to localize medical devices
DAIWHA Co., Ltd Device Co., Ltd. is a medical device specialized company that has been walking a single path for 41 years to localize medical devices.
Starting with the business of importing and selling foreign medical devices in 1979, the company has developed and produced 100% pure domestic technology, starting with electric surgery devices in the late 1980s, medicine injection pumps, and energy surgery devices for surgery. Dae-Young Yoon, Chairman of Daehwa Equipment, said, “We started with the top goals of promoting public health, creating high added value, and obtaining customer trust. He says he has been running for more than 40 years to stand tall as the world’s “DAIWHA” without losing its pride as a pioneer in the domestic medical device market.” As a result, he explains, “Now, we have sales networks in more than 60 countries around the world, and we are proud of our high recognition and market share in both the domestic and overseas markets.
The medical devices produced by Daehwa Equipment are largely composed of three product groups: electrosurgical devices (Meditom), medicine injectors (Medifusion), and surgical energy devices (Medisonic). Recently, a central monitoring system has been developed that can manage the status of drugs injected into patients in real time through a single monitor of multiple drug injectors equipped with wireless wifi modules.
Of course, these products are the first products developed in Korea. In addition, we are continuing our efforts to steadily improve products that have already been produced through continuous research and development (R&D). Each year, more than 15% of sales are invested in R&D to develop new technologies and products, as well as research to ensure thorough quality control for each process in the production process. These R&D efforts resulted in having 3 patents, 11 designs, and 2 utility models. In addition, a number of patents and designs are being applied at home and abroad in relation to the nation's first ultrasonic energy device for surgical operation that has been recently developed and sold. In recognition of these efforts, it has been designated as a “global small and medium-sized company” twice by the Ministry of Small and Medium Venture Businesses, and has also received various awards such as the Creative Enterprise Award and the Good Design Award. Daehwa Equipment recently opened a “Dialogue Training Center” at its headquarters in Yeoksam-dong, Gangnam-gu, Seoul. It is the first education center in Korea established by a domestic medical device company. It provides professional education and training on increasingly advanced medical devices to domestic and foreign medical staff as well as distributors.
By creating a virtual surgical environment in the training center, it is intended to provide an opportunity to experience and learn firsthand the principles and technical usage of the medical devices produced by the conversation device to operate smoothly and accurately.
Chairman Dae-young Yoon said, “In particular, it will serve as an outpost for training medical staff in developing countries. In addition, through this, we can further increase the trust of customers in the products of the conversation device.”
Daehwa Equipment supplies medical equipment to first and second hospitals through agencies and contractors, as well as most advanced hospitals such as Asan Medical Center, Samsung Medical Center, Seoul National University Hospital, Pusan National University Hospital, and Jeju National University Hospital. In overseas markets, it has established 55 sales networks and supplies medical devices to more than 60 countries. Such efforts to develop overseas markets resulted in the achievement of winning the “5 million dollar export tower” in 2013. Chairman Dae-young Yoon said, “Since we entered the medical device manufacturing industry in earnest, we have focused on the overseas market rather than the domestic market considering the size of the market. Looking at the proportion of sales alone, it is about 20% domestically and 80% overseas. Despite the offensive of Chinese-made products, we were able to solidify overseas sales by implementing various customized strategies for each country.” “It is true that the recent corona 19 incident has been a little hit, but developing countries still lack essential medical devices We are expecting that demand will increase.”
Chairman Yoon Dae-young is a Ph.D. in Public Health. While establishing and managing Daehwa Equipment, he served as the corporate representative of GE Healthcare, a GE-affiliated medical device company, for a while.
Chairman Yoon said, “I am trying to apply the various advanced business management systems I learned while at GE to conversational devices.” “Through transparent and open management, we are always doing our best to create a workplace full of love and trust for each other, and to repay customers with'best products and best services.'”
Regarding the future plans and prospects, “The medical device field is not a short trend, but a field that continues to develop. As has been the case for the past 41 years, we will devote all our efforts to continuous R&D and securing talents so that Dialogue Equipment is the best in the world as well as in Korea. In 10 years, it is expected that it will create a company size that is more than 10 times the size of the present, to compensate for the hardships of its employees and grow into one of the top 100 global medical device companies.”
[Editor's Note] Money Today, together with the Seoul Industry Promotion Agency (SBA), is helping media utilization, marketing, and consulting for innovative growth of Seoul companies with global growth potential.
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