Pioneering Medical Devices in Korea: DAEYANG Medical
Humble and Tumble
CEO Yun Il-Yong recalls “It was 1978, I was busy expanding my business when I stumbled upon an opportunity to import medical devices. At that time, the market in Korea remained virtually uncultivated.The Marginal profit was very enticing and I was intrigued by the thought. I then decided I was ready to manufacture them directly here.”
His business DAEYANG MEDICAL first set sail in 1970. He taught himself Japanese through the recommendation of a friend. His main duty was to run export operations on behalf of his clients. He earned quite a profit money and gained confidence that later helped him persevere throughout the difficult times in his business.
He says “Starting in 1985, I began building low-frequency medical devices. I also had to make every electric part. The situation was not at all glamorous, but what mattered most was my attitude and strong will.”
Twenty seven years later, his humble beginning has become an enviable second-to-none in the industry with more than 50 types of medical and beauty devices.
Yet, fate did not let him go untested. During Korea’s foreign currency crisis, the price for medical machines inflated. As a result, the government was in a hurry to sell them, which created a market opportunity where competition was looming. Later, it turned fierce.
Quality, Variety, and Going Global
His son, Director Mr. Yun, Jung Seop was prepared this time with three ideas. “First is price, DAEYANG MEDICAL sells at 30 ~ 40 % above our competitors. We do care about quality and certainly would not trade it against price. Buyers always appreciate it in the end.“ The company now has 2 international patents and 5 more in Korea.
“Second is variety. Around 2000, DAEYANG MEDICAL tapped a new market which focused on high frequency skin-care devices. For massive production system, we moved our Bu-cheon factory to the Donghwa medical instrument complex. “
Third is the overseas market. DAEYANG MEDICAL landed in the U.K. for the first time in 2005 after acquiring an ISO13485 certificate in Europe. Every year, the company attends more than 10 international exhibitions to diversify their target markets.
c’s major items are high frequency stimulators, low frequency therapy devices, ultrasound therapy machines, etc. Devices worthy of recognition are MABEL6, AutoMote, and InterPro. Fore more information, you can visit http://www.daeyangmed.com/en/index.htm