[Sejong=Asia Economy Reporter Joo Sang-don] Sung Yun-mo, Minister of Trade, Industry and Energy, stated on the 21st, "We will concentrate all policy measures and capabilities to support companies in order to continue the export recovery trend, achieve a positive export turnaround this year, and make this year a year of export and economic rebound through the recovery of trade to 1 trillion dollars."
On this day, Minister Sung visited MakICS, the number one domestic artificial respirator company, to inspect the production and export sites and made these remarks.
MakICS is a total solution company for respiratory therapy and succeeded in domestic production of artificial respirators for the first time in 2006, which had previously depended on imports. It holds 13 related patents and possesses the highest level of technology in Korea. Based on this, it achieved $45 million in exports last year, realizing an 8.6-fold export growth compared to 2019. As the only specialized respiratory therapy company in Korea, it has also stably supplied about 500 artificial respirators, a key quarantine item, to domestic hospitals.
Since 2011, the government has supported MakICS's respiratory therapy device performance improvement and new technology and product development through research and development (R&D) support. Along with this, global capacity-building support such as medical device export consultation meetings, exhibitions, and participation in trade delegations is being provided to help MakICS's technology bear fruit in overseas markets.
On this day, Kim Jong-chul, CEO of MakICS, said to Minister Sung, "The government's steady support for R&D, overseas expansion, and public demand creation has great significance and results as it has led to export expansion and social and national contributions such as creating employment for more than 70 people." He added, "We expect the government’s role to continue so that our companies can achieve good results along with the success of K-quarantine." In response, Minister Sung said, "The success of K-quarantine was possible thanks to the cooperation of all citizens, including businesspeople and workers who stood firm on the economic frontlines despite the difficulties of the COVID-19 situation." He added, "We will do our best to ensure that there are no difficulties in the national economy due to COVID-19."
Minister Sung said, "To ensure that the growth trend of domestic medical device exports does not falter, we will expand support for the development of new convergence medical devices at the pan-government level together with the Ministry of Health and Welfare, the Ministry of Science and ICT, and the Ministry of Food and Drug Safety. We will link support for approval, licensing, and market development so that R&D outcomes lead to commercialization." He added, "We will support hospitals and companies, which understand the needs of the medical field well, to work together from product planning to development and purchase."
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