Meta Biomed specializes in manufacturing biomedical products ranging from dental materials to synthetic surgical braids.
Despite the difficult market conditions triggered by the financial crisis this company managed to increase its revenue by almost 20 percent in 2008 compared to the year before.
How did they achieve this feat[Interview : Oh Suksong, CEO Meta Biomed] "If you can't succeed locally, you must look outside your borders. Korean biomedical companies' global market share is only 2 percent. That means there are tremendous opportunities in the remaining 98 percent."
A whopping 94 percent of the company's revenue last year came from overseas sales.
Meta Biomed focused on items that large conglomerates deemed too small a market and what small and medium-sized businesses considered too high of an infrastructure investment as well as research and development costs. Another successful firm in these troubled times is venture company DigitalZone that manufactures devices such as high definition stream generators that enhance the audio and video quality of digital televisions.
The company's clientele includes global giants in the digital display industry namely, LG Electronics, Sony and Philips. Apart from a couple of Chinese firms that are trailing in technical expertise, DigitalZone is the global leader in making such devices.
[Interview : Shim Sangwon, CEO DigitalZone] "I'm confident that our technical knowledge is one year ahead of our competitors. And by the time they catch up, our new products will be one year ahead again."
Armed with fresh ideas and diligent marketing, the two companies have successfully carved out niche markets. With the real economy forecast to face stiff challenges this year, Korean companies are thinking globally and acting locally to continue their success.
Kim Seok, Arirang News.
JAN 02, 2009
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Friday, SEP 03, 2010, (KST) 
