SEOUL, November 13 (AJP) - Samsung Medison is doubling down on the global ultrasound market, opening a new manufacturing facility in South Korea as it aims to double production capacity by 2030 and break into the industry's top three.
The medical equipment maker, a subsidiary of Samsung Electronics, said Friday it had completed a 50 billion won ($34 million) expansion at its Hongcheon plant in Gangwon Province, its largest since Samsung acquired the company in 2011.
The new facility spans 14,548 square meters and will expand production of premium ultrasound systems, including the HERA Z20 and R20.
The Hongcheon plant serves as Samsung Medison's main export hub, producing all ultrasound equipment shipped to more than 110 countries. Overseas sales account for over 90 percent of the company's revenue.
The expansion comes as Samsung Medison outpaces the broader ultrasound market. Its revenue grew 16.2 percent last year, compared with global market growth of 3.7 percent, according to the company.
Samsung Medison expects revenue to grow at roughly three times the projected 4 percent global market growth rate this year, supported by demand for premium ultrasound systems incorporating AI-assisted diagnostic features.
The new facility also incorporates automated production processes and energy-efficient equipment to improve manufacturing productivity.
Samsung Medison has expanded its international footprint with equipment supplied to major U.S. hospitals, including Mayo Clinic and Cleveland Clinic, as it pursues a position among the world's top three ultrasound manufacturers.
Candice Kim
Candice Kim is a dedicated business and technology reporter specializing in the intersection of high-tech innovation and fast-paced consumer trends. Her core beats span the semiconductor, IT, cosmetics, and retail sectors, where she provides in-depth coverage of industry titans including Samsung Electronics, SK hynix, and LG Electronics, alongside leading consumer brands like Olive Young and Musinsa. Whether analyzing complex silicon supply chains or tracking the latest shifts in beauty and fashion retail, Candice is committed to delivering sharp, accurate reporting that keeps readers informed on the forces shaping today's most dynamic markets.
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