"Korean Medical Devices Sought by Russian and Ukrainian Doctors... Shuenbi Sets Sights on Brazil"

Entering 96 Countries... Over 80% of Revenue Generated Overseas

Six FDA Certifications and Multiple SCI-Grade Papers Per Device

Attracting Attention with an Independent Path Toward Becoming a Global MedTech Company

"Even doctors from Russia and Ukraine, who are currently at war, visit once a month to purchase Shuenbi equipment."

Kang Sunyoung, CEO of Shuenbi, brought this up during a press conference hosted by the Innobiz Association on May 14. This was to highlight Shuenbi's export competitiveness, having built its reputation overseas before becoming well-known in Korea.

Shuenbi is a Korean company specializing in aesthetic medical devices, established in 1999. The company exports products to 96 countries, including the United States, Russia, Japan, and the Middle East, generating over 80% of its total revenue from overseas markets. In 2023, it received the '20 Million Dollar Export Tower' award. Last year, Shuenbi recorded sales of 41.2 billion won and operating profit of 13.6 billion won, with a recent compound annual growth rate of 14.9%.

The next target for CEO Kang is the Brazilian market. She notes that local interest in K-beauty there is even hotter than in the company's traditional key markets. While about 20 to 30 Russian and Asian doctors visit Shuenbi’s headquarters at a time, more than 100 people from Brazil gather due to their high level of interest.

Kang Sunyoung, CEO of Shienbi, explained the dual plasma equipment "Pladuo" at Shienbi's production plant in Seongsu-dong, Seongdong-gu, Seoul, on the 14th. Innoviz Association

Technology, FDA Certification, and SCI-Grade Papers: The "Three Pillars"

Shuenbi's export competitiveness stems from the technological capabilities it has built up over 27 years. Its core technologies are radio frequency (RF), high-intensity focused ultrasound (HIFU), and plasma energy. Based on these technologies, Shuenbi has developed medical devices used in aesthetic and obesity management fields.

The decisive moment for overseas expansion came with certification from the U.S. Food and Drug Administration (FDA). Realizing that clinical trial results based on Korean standards alone would not suffice for entry into the U.S. market, CEO Kang began local clinical trials in 2011. Ultimately, in 2016, Shuenbi secured FDA approval for its radio frequency equipment "Vivace," paving the way for entry into the U.S. market.

Since then, Shuenbi has further advanced its radio frequency technology. The microneedle RF device "VirtueRF," which incorporates energy partitioning technology and a cooling system, received FDA approval in 2020, after which it began sales in both the United States and Korea. Last month, the non-invasive RF device "Diacore" was also granted FDA certification, bringing the total number of FDA-approved products to six.

Skin beauty medical device developed by Shienbi. Shienbi

The company has also put significant effort into establishing academic credibility. To persuade foreign doctors, Shuenbi has secured more than six SCI-grade papers for each device. According to the company, these publications have been a driving force behind annual sales growth of 20% to 25%. This strategy of combining technological prowess with academic validation has proven effective in overseas markets.

Recently, Shuenbi has set its sights on plasma technology. Plasma, an ionized gas, is the basis for its flagship product launched in 2020, the dual plasma device "Pladuo." The device is designed to allow users to select either nitrogen or argon plasma in a single machine. It features 15 levels of energy control and is equipped with a Spin Shot system to ensure stable plasma generation. According to Shuenbi, the device facilitates skin regeneration by adjusting the type and intensity of plasma based on the treatment purpose, such as burn scars or acne.

Advancing as a "Global MedTech Company" Without Going Public

Shuenbi has also mapped out an investment plan to become a "global MedTech company." Last year, the company secured 18 billion won in facility funding from IBK Industrial Bank of Korea and is currently seeking additional investment funds by selling its old headquarters in Seongsu-dong. The funds will be used to expand automated facilities and build cleanrooms for producing sterilized consumables used in medical devices. The company is also considering developing an artificial intelligence (AI)-based system for collecting and storing procedure and device data.

On the 14th, workers are assembling products at the Shienbi manufacturing plant in Seongsu-dong, Seongdong-gu, Seoul. Inno-Biz Association

However, the company made it clear that it has no plans to go public. Rather than focusing on rapid expansion, Shuenbi intends to maintain its independence based on its proprietary technology and brand. The company has also declined all OEM (original equipment manufacturing) and ODM (original design manufacturing) requests from global corporations. According to CEO Kang, the priority is to develop Shuenbi’s unique products and promote the "Made in Korea, Shuenbi" brand worldwide.

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