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Medical fair expects deals worth $470m

Nearly 1,000 companies from 30 countries will showcase their latest medical equipment and health care technologies at a trade show in Seoul starting Thursday.

The Korea International Medical Hospital Equipment Show 2012 is the country’s largest exhibition for the burgeoning industry, co-hosted by Korea E & EX, the Korea Medical Devices Industrial Cooperative Association and the Korea Medical Devices Industry Association at COEX in southern Seoul.

During the four-day event, about 60,000 local professionals and 2,000 international buyers are expected to negotiate export deals worth $470 million collectively, according to its steering committee.

Participant companies include multinational corporations such as GE, Siemens, Philips and Toshiba. Leading domestic manufacturers including Samsung Medison, Listem, HDX, JW Pharmaceutical and Dong Kang Medical Systems have also signed up for a booth, organizers said.

They will display equipment for medical examination, clinical tests, radiation therapy, surgical operations, rehabilitation trainings and emergency treatments, as well as medicines and health care supplements, the committee added.

Korea is Asia’s fourth-largest medical device market. It has grown at double-digit rates every year since 2005 to nearly 3 billion euros ($4 billion) in 2010, according to the European Union Chamber of Commerce in Korea. Foreign makers supply more than 60 percent of the country’s needs.

By Shin Hyon-hee (