Kim Hak-do, Chairman of the Korea SMEs and Startups Agency, Visits Successful Companies Transitioning to the Bio Sector

Searching for Daega Powder System, Successful in Developing Plant-Based Powder Hemostats and More

Kim Hak-do, the chairman, is visiting Daega Powder System in Guro-gu, Seoul on the 1st to inspect the site.

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (hereinafter referred to as SBC) announced that Chairman Kim Hak-do visited Daega Powder System located in Guro-gu, Seoul on the 1st to inspect the site and listen to difficulties.

The visit was arranged to encourage entrepreneurs and workers preparing to leap into a global company in the bio and medical fields through business transformation. Established in 1970, Daega Powder System is the first domestic specialized manufacturer of powder equipment. Powder equipment requires advanced technology to accurately understand the characteristics and physical properties required by each field such as food, cosmetics, pharmaceuticals, petrochemical products, and secondary batteries, and process them into powder accordingly.

CEO Choi Eun-seok of Daega Powder System anticipated growth in the bio and medical fields and received business transformation funds from SBC in 2019. Utilizing this, they succeeded in developing a plant-based powder hemostatic agent using existing powder technology and became the first in Korea to develop an infusion set using ceramic filters, obtaining manufacturing and sales approval for medical devices. If they receive certification from the U.S. Food and Drug Administration (FDA) and others by May, it is expected to accelerate overseas expansion as a self-branded product with price competitiveness and import substitution effects, not only in the domestic market.

CEO Choi said, "When I was considering business transformation, SBC's financial support was a great help in challenging a new field," adding, "We will secure global competitiveness in the medical device business through continuous technology development and widely promote the excellence of K-Bio by entering overseas markets."

Chairman Kim said, "SBC plans to support the re-leap of innovative small and medium venture companies challenging business transformation into new fields," adding, "We will expand continuous linked support for business transformation funds for technology development and product production, export marketing, and workforce training projects, and actively provide social and employment safety nets for innovative companies."

This content was produced with the assistance of AI translation services.