Diagnostic cardiology provider GE Healthcare has plans to invest $8.7m (KRW10bn) to boost the production capacity of ultrasound systems by double in South Korea.
As part of this strategy, by February, 2014, GE Ultrasound, a unit of GE Healthcare, plans to improve production and construct a six-story building adjacent to the existing manufacturing facility.
Currently, the company manufactures around 15,000 ultrasound systems each year. The South Korean business division produces about a third of all ultrasound equipment manufactured by GE Healthcare globally. About 95% of the systems produced at its Seongnam plant, Seoul, is exported to more than 150 countries.
GE Ultrasound president Choi Young-chun was quoted by Korea IT Times as saying that the rate of domestic parts usage in its facility is nearing 100% due to support of 120 small-sized suppliers in the country.
"The latest announcement of investment is proof that our plant is recognized widely as a quality producer with excellence in R&D capabilities," Young-chun added.