Ostem Implant Awarded '200 Million Dollar Export Tower'

Overseas division heads, the key figures behind Osstem Implant's '200 Million Dollar Export Tower' award, are gathered at the headquarters for a commemorative photo.
[Photo by Osstem Implant]

[Asia Economy Reporter Lee Gwan-ju] Osstem Implant announced on the 6th that it received the '200 Million Dollar Export Tower' award at the '59th Trade Day' ceremony.

Starting with the 1 Million Dollar Export Tower in 2006, Osstem Implant received the 10 Million Dollar Export Tower in 2007, 30 Million Dollar in 2012, 50 Million Dollar in 2015, 100 Million Dollar in 2018, and after four years, the 200 Million Dollar Export Tower.

This Export Tower award was selected based on export performance over one year from July 1 of last year to June 30 of this year. During this period, Osstem Implant's export performance recorded 258 million dollars. However, this figure is limited to the export performance of the Korean headquarters; when adding the performance of 30 overseas subsidiaries during the same period, Osstem Implant's global market sales amount to 601.1 billion won.

Osstem Implant's overseas sales have been rapidly increasing this year. The cumulative overseas sales up to the third quarter reached 508.5 billion won, surpassing last year's performance, with a growth rate of 42.3% compared to the same period last year. The proportion of overseas sales in total sales also rose from 61% last year to over 65%.

Osstem Implant's remarkable overseas performance is evaluated to have been possible because of the competitiveness of its products. Since its establishment, Osstem Implant has continued technological innovation through large-scale research and development (R&D) investment. Last year, it spent 80 billion won, equivalent to 11% of sales, on R&D costs. The Osstem Implant Central Research Institute located in Magok, Seoul, has the world's top-level scale and facilities in the dental field, with over 500 research personnel working there.

An Osstem Implant official said, "Despite difficult circumstances with many internal and external adverse factors and variables, we were able to achieve excellent results while maintaining the trust of our customers, the dentists, because we had solid quality competitiveness," and added, "Since global economic conditions are expected to remain challenging next year, we will continue the high-growth trend while improving management efficiency."