[By NBC-1TV H. J Yook]A professional medical monitor manufacturer KOSTEC Co., Ltd. (CEO Oh-Sung Kwon) is actively expanding its global policies to enter overseas markets.

Founded in 2003, KOSTEC is a global hidden champion that manufactures medical-use monitors such as clinical review displays, endoscopes, and ultrasonic waves and industrial-use monitors for special purposes. The company currently exports regularly to 50 different countries including Japan, China, and England.

To cultivate the markets in the EMEA (Europe, Middle East, and Africa) regions - the core markets for global marketing, KOSTEC launched a branch office in Eindhoven, Netherand.

The company plans to recruit a local expert in medical monitors marketing with 30 years of experience as the branch office manager and target the local markets.

CEO Oh-Sung Kwon said, “As a part of active and aggressive management philosophies of KOSTEC regarding entering international markets, we expect to have strengthened the market dominating power in the EMEA region by 2014.”

In addition, KOSTEC signed an agreement to establish a JV in Shanghai, China with Shanghai Chartwell Medical Instrument Co.,Ltd.

This is the result of increasing interest in KOSTEC in China with increasing demands for medical monitors.

For the establishment of local branch office and plant in China, KOSTEC has obtained 30% of their share without an extra cash investment. This non-traditional investment method of JV establishment is attracting attention of many.

Up to now, the medical device industry in China lags behind compared to other advanced countries, however it is growing quite rapidly.

Experts expect China to become world’s 2nd largest medical device market that surpasses Japan within 5 to 7 years.