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Seegene’s Respiratory Virus detection kit selected as "world-class product"
Dec 19, 2014
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On December 8, the Ministry of Trade, Industry and Energy (MOTIE) held the World Class Product of Korea 2014 expo at COEX in Seoul, where 59 products of 68 companies were selected as the year’s best, and Seegene’s Respiratory Virus (RV) detection kit was among them. Seegene, which was selected in 2009 as a “next generation producer of world class products” with detection product of Respiratory disease, now ranks third in global market share. Its products have been named world-class within a short span of five years. Having also been selected as a next generation producer of diagnosis products for sexually-transmitted infections (STI) detection kit, Seegene is now seeking to engage the global market.
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“World Class Product” is a certification mark awarded by the Korea Trade-Investment Promotion Agency (KOTRA) to cultivate domestic products that can lead the Korean export industry. Hosted by the MOTIE and supervised by KOTRA, the World Class Product of Korea expo has been held each year since 2001 to recognize products and companies with technology-based innovative potential as either “current world class products” or “next-generation world class products.” In the case of the current world class products category, products must have a global market share within top five ranking or within the top 5% and have a global market size of at least USD 50 million annually, be at least twice the size of the relevant domestic market, or have an annual export scale of at least USD 5 million. Seegene easily qualified since exports for its world class products in 2013 totaled USD 227.6 billion, approximately 40% of Korea’s total export amount.?
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The cultivation of world class products is pursued by MOTIE to secure export growth engines for the future and diversify the nation’s export categories. For its part in expanding export volume, KOTRA focuses on overseas marketing, mainly through support for the cost of inviting competitive buyers and fortifying royalty fees for major business clients for world class product-certified companies.
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By being selected for the world class product component in 2014, Seegene once again proved its reputation as a company with global competitiveness and the best technology in the global market. As part of its reward, Seegene will be eligible for comprehensive benefits from government organizations for everything from technology development to participation in overseas expos, publicity and marketing.