Following delivery to 79 countries, additional development of the Nordic market
CU Medical is accelerating its overseas market expansion through R&D investment. It is already supplying to 79 countries, but is working to further develop the Northern European market. It also plans to move its R&D center to Gwacheon and continue to create a technology gap through AED research and development.
On the 14th, CU Medical held a new product demonstration in Gwacheon, Gyeonggi-do, and introduced new portable AEDs and professional medical AEDs to overseas buyers. It introduced new products in Gwacheon immediately after introducing the manufacturing process of the Wonju plant to overseas buyers.
CU Medical has developed a new product to produce a higher level of AED. The key point of this new product is that it has improved durability compared to existing products and has produced a screen-type AED for easy use by users.
While the portable AED, which was CU Medical’s main product, was voice-based and used by users by pressing buttons, the AED (CU-SPX) developed this time has a screen so that users can use it more easily based on images.
Durability has also been improved. During the demonstration, the company showed confidence in its durability by actually throwing the AED on the floor.
CU Medical is focusing on conquering overseas markets as well as the domestic market. As of the first half of this year, exports account for 75.4% of sales. Major export countries include Europe, the United States, Japan, the Middle East, and Africa, and it supplies to a total of 79 countries. It is known that Japan is the only country in Korea that supplies AEDs. It is also spurring the development of new markets. Recently, it has been working to secure the market in Northern Europe. Since it has never supplied to a place before, it plans to expand sales in the form of an agency centered on its German corporation rather than establishing a corporation.
The reason why CU Medical's products can continue to be supplied stably to overseas markets is due to strict quality control. CU Medical conducts full inspections from each part to the finished product at the Wonju plant. In addition, unlike other AED manufacturers that outsource some processes, CU Medical directly conducts all processes from material purchase to AED production, inspection, and sales. Its performance is also stable. It has recorded sales in the 40 billion won range since 2022, and has also generated operating profits every year. It is a picture of steady growth.
Although operating profits decreased last year due to an increase in some selling, general and administrative expenses, it still recorded profits of around 5 billion won. This year, sales and operating profits were 21 billion won and 4.2 billion won, respectively, in the first half of the year.
CU Medical plans to continue to focus on research and development. To this end, it also moved its R&D center to Gwacheon this year. The relocation of the R&D center was carried out to secure research and development personnel.
Kim Hyung-soo, CEO of CU Medical, explained, “The factory is in Wonju, but it has not been easy to hire high-level researchers in Wonju,” and “We expect it will be easier to hire researchers when we establish an R&D center in Gwacheon in the future.” Considering future market conditions and securing competitiveness, we have been preparing for the relocation of the R&D center since 2018. We participated in the PF as a shareholder and received the building to prepare for the future in a planned manner.
A CU Medical official said, “We have been conducting B2B-based business so far, but we will get closer to the public in the future,” and “We will not let down our guard on quality control, which is CU Medical’s greatest strength, and will strive to maintain trust with our business partners.”
< Copyright ⓒ Capital Market Media 'thebell', unauthorized reproduction, redistribution and use of AI learning prohibited >
Following delivery to 79 countries, additional development of the Nordic market
CU Medical is accelerating its overseas market expansion through R&D investment. It is already supplying to 79 countries, but is working to further develop the Northern European market. It also plans to move its R&D center to Gwacheon and continue to create a technology gap through AED research and development.
On the 14th, CU Medical held a new product demonstration in Gwacheon, Gyeonggi-do, and introduced new portable AEDs and professional medical AEDs to overseas buyers. It introduced new products in Gwacheon immediately after introducing the manufacturing process of the Wonju plant to overseas buyers.
CU Medical has developed a new product to produce a higher level of AED. The key point of this new product is that it has improved durability compared to existing products and has produced a screen-type AED for easy use by users.
While the portable AED, which was CU Medical’s main product, was voice-based and used by users by pressing buttons, the AED (CU-SPX) developed this time has a screen so that users can use it more easily based on images.
Durability has also been improved. During the demonstration, the company showed confidence in its durability by actually throwing the AED on the floor.
CU Medical is focusing on conquering overseas markets as well as the domestic market. As of the first half of this year, exports account for 75.4% of sales. Major export countries include Europe, the United States, Japan, the Middle East, and Africa, and it supplies to a total of 79 countries. It is known that Japan is the only country in Korea that supplies AEDs. It is also spurring the development of new markets. Recently, it has been working to secure the market in Northern Europe. Since it has never supplied to a place before, it plans to expand sales in the form of an agency centered on its German corporation rather than establishing a corporation.
The reason why CU Medical's products can continue to be supplied stably to overseas markets is due to strict quality control. CU Medical conducts full inspections from each part to the finished product at the Wonju plant. In addition, unlike other AED manufacturers that outsource some processes, CU Medical directly conducts all processes from material purchase to AED production, inspection, and sales. Its performance is also stable. It has recorded sales in the 40 billion won range since 2022, and has also generated operating profits every year. It is a picture of steady growth.
Although operating profits decreased last year due to an increase in some selling, general and administrative expenses, it still recorded profits of around 5 billion won. This year, sales and operating profits were 21 billion won and 4.2 billion won, respectively, in the first half of the year.
CU Medical plans to continue to focus on research and development. To this end, it also moved its R&D center to Gwacheon this year. The relocation of the R&D center was carried out to secure research and development personnel.
Kim Hyung-soo, CEO of CU Medical, explained, “The factory is in Wonju, but it has not been easy to hire high-level researchers in Wonju,” and “We expect it will be easier to hire researchers when we establish an R&D center in Gwacheon in the future.” Considering future market conditions and securing competitiveness, we have been preparing for the relocation of the R&D center since 2018. We participated in the PF as a shareholder and received the building to prepare for the future in a planned manner.
A CU Medical official said, “We have been conducting B2B-based business so far, but we will get closer to the public in the future,” and “We will not let down our guard on quality control, which is CU Medical’s greatest strength, and will strive to maintain trust with our business partners.”
< Copyright ⓒ Capital Market Media 'thebell', unauthorized reproduction, redistribution and use of AI learning prohibited >