51Smiling Dalseo Marathon 2013-12-13
50Visiting JVM Co., Ltd., the manufacturer of Automatic tablet dispensing & packaging system in Da 2013-03-08
[Special selection of the local company]
Visiting JVM Co., Ltd., the manufacturer of
Automatic tablet dispensing & packaging system in Daegu, Korea
JVM, located in Daegu Dal-su gu Ho-san dong Seong-seo industry region is more or less unaccustomed to public. But JVM is no stranger to the medical and pharmaceutical world, the company is well known as the global leading automatic tablet dispensing & packaging system manufacturer.
▲ Automatic tablet dispensing & packaging systems JVM has produced. From the right, ATDPS
(automatic tablet dispensing packaging system), VIZEN(automatic tablet inspection system),
and WIZER(tablet package cutting & winding system).
The automatic tablet dispensing & packaging system (ATDPS), JVM’s flagship model is taking place in 90% of domestic automatic tablet dispensing and packaging market, moreover, 78% of Europe market share and 74% of USA market share for the mean time exporting to as many as 34 countries around world. JVM is inarguably one of the world’s finest companies. Sales reached to 73.5 million USD last year and predicted to 83 million USD this year. JVM is taking the top spot with a lofty industrial growth rate.
JVM was established in 1977. The company was started with a small idea of Jun-ho Kim, Vice-president of JVM. In 1963, A Sung-gwang night high school freshman, Jun-ho Kim was responsible for earning household livelihood upon the unexpected death of his father 2 years ago. He went to school at night and delivered medicine from drug wholesalers to pharmacies riding a bicycle. Nearly no pharmacy wanted a small framed kid with his shabby bicycle to deliver medicine for them. So he decided to pack tablets with paper for pharmacies. He thought ‘I may get more orders if I could pack these tablets faster.’ Then he developed an automatic tablet packaging machine. In his age of 31, he established Hyup-Shin medical, former company of JVM. Later, the company released an automatic tablet packaging machine. Though it was rudimentary, it was the country’s first automatic tablet packaging machine. Korea adopted the medical insurance system on cue. Hospitals were crowded with many patients. Hospital pharmacies raced to reach their hands for JVM’s machine.
Something unexpected happened to the company along the way. Mr. Kim was diagnosed with lung cancer in 1988. Doctor encouraged giving up and oxygen respirator was taken off several times. Mr. Kim came back alive after 8 years of hospitalization. However, the company was falling apart. Some of the trustworthy employees left the company and found the same type of company while he was hospitalized. It reached up to half of the 70 employees and they founded three companies at that time.
Mr. Kim tried all to save the company. He thought the technology is the only thing to save the company in reality while his former-employees became competitor. Vice-president, Mr. Kim focused on developing new technology with 2 billion Won by selling his house property. Two other companies founded by the former employees stopped operation due to the lack of technology compared to JVM. One last company requested to M&A and accepted this offer forgetting about the past. They still work for JVM. Around 2000, as JVM dominated domestic market 3 Japanese companies started to attack. Uyama filed a patent litigation. This lawsuit lasted 3 years. Also, Japanese companies collectively started to spread the rumor that ‘company at the verge of bankruptcy’ so American buyers avoided JVM. JVM stayed even more focused on research and development and won the lawsuit and took Japanese company’s market share. JVM realized the importance of the patent through this. JVM created an exclusive department and hired 4 patent registration experts. JVM acquired 334 patents so far and 249 patents are in the process of application and also created patent wall displaying patent contents in the company.
Finally, company was stock-listed in 2006. It was sufficient enough to attract investor’s attention thanks to the 20~30% annual profits. Stock market is struggling, however, JVM stock is currently standing at 50,000 WON(about 45 USD). [face value of 500 WON(4.5 USD)]
After making some changes of company policy into export-oriented, JVM registered for KIKO(currency hedge derivative products), and it brought another risky moment to JVM. Banks predicted the decrease of currency but currency rate skyrocketed so KIKO crisis occurred. The company loss reached to 100 billion WON and debt increased to 5700%. What is worse, global financial crisis occurred so revenues of American market cut down to 40%. However, JVM found a breakthrough in new technology development. It invested more aggressively in the middle of crisis. Investment was pulled up to 14% when it was usually 3~4% annually. Because of this, there was a huge currency discrepancy but the revenue was quickly reached high so that the normal sales profit was gained.
Executive Director (Kim, Sun-Kyeong) said, “Research force is approximately 107 people out of 347 employees. With the continuous effort in research, we will stabilize as world top number 1 from now on.” The handicapped employees reached more than 5%. Executive Director Kim stated that the handicapped employees perform better than regular employees when requiring a high level of concentration and they are the treasure of our company.
■ Daegu Han, Chan-gyu reporter firstname.lastname@example.org
49'36years of customer love, returning by supporting school and the minority' 2013-03-08
[Special selection of the local company]
“36years of customer love,
returning by supporting school and the minority”
“The power of positive became the momentum of the growth into global corporation”
Lee, Yong-Hee CEO of JVM stated that there were numerous crucial moments in the company. First, it was the diagnosis of lung cancer to founder, Vice-president Kim, Jun-ho. As if it was on a break when the company was going well. Also, the KIKO loss of 100 billion WON and global financial crisis was a huge shock.
▲ Lee, Yong-hee, CEO of JVM
“Thinking that ‘I can do it’ played a vital role in overcoming the difficulties. So I focused on more on the development of technology and became the world number one company in pharmacy dispensing machine.” said Mr. Lee. Management specialist CEO Lee added, “Vice-president Kim had a huge impact” Vice-president Kim did not lose his dream while delivering medications for a living when in high school. Learning from here and there and going through machine parts street in Cheon-gae-cheon, Seoul, he finally made his dream come true by making Korea’s first medication packaging machine in 4 years.
CEO Lee stated, “Customer was a great support for overcoming difficulties. That is the reason why customer comes first.” The aspect of this is easily found in every corner of company management. The founder is company’s vice-president and the customer is listed as president. Also, on the website in company introduction page, the headline ’36 years with customers’ is posted.
He said “I am returning the love received from the customer to the society” Over the last 16 years was building/managing the school for domestic/international minority kids and also supported living for neglected class. It reaches up to 32 countries in the world to include Cambodia, Philippines, Afghanistan and Africa. Not only the fund that they support, management and employees visited each local and volunteered 3~4 times a year. Also, by building 1~2 school and church, kids without parents get support. CEO Lee “I am actively investing in education business so that these kids will grow up and teach the minorities again”
JVM was the first to donate about 100million won for IAAF World Championship Daegu 2011. CEO Lee said “Anyone can be a world-class if one has a frontier and pioneer spirit” “JVM also has a great expectation towards President-elect Park, Geunhye’s future creative economy.”
■ Daegu Han, Chan-gyu reporter email@example.com
48JVM has made an agreement with OnlinePharm for domestic sales 2013-02-01
JVM has made an agreement with OnlinePharm
for domestic sales
OnlinePharm decides to sell a variety of pharmacy automation systems to
domestic pharmacies, expecting some 30 billion won of annual sales
< Nam Gungkuwang, president, OnlinePharm (left) and Lee Yonghee, president, JVM (right) >
[Reported by Cheon Seunghyun at E-daily] On January 3rd, OnlinePharm, a professional pharmaceutical sales and marketing company, announced that the company closed deal with JVM CO., LTD, the pharmacy automation industry leader, to be the exclusive distributor and reseller of a variety of pharmacy automation systems.
JVM will supply its automation system portfolios exclusively to OnlinePharm allowing it to sell the products to pharmacies throughout the country. JVM, however, will continue to cover sales for hospitals and clinics.
The products to be sold through OnlinePharm include Automatic Tablet Dispensing & Packaging Systems (ATDPSs) and Semi-auto Dispensing & Packaging Systems for Tablets and Powder. ATDPS is the state-of-the-art tablet dispensing and packaging machine which handles the complete prescription and packaging process from split filling, to prescription data transfer system connectivity, automatic tablet position recognition, and prescription data printing.
OnlinePharm expects more than 30 billion won of annual sales from these products as well as supplies and accessories.
“JVM is the only company in Korea capable of self-manufacturing the pharmacy automation systems with its exclusive source technologies on automation. We are hoping to establish more competitive business structure in between two companies built on OnlinePharm’s outstanding pharmacy sales and marketing ability,” says Nam, Gungkwang, president of OnlinePharm.
Lee Yonghee, president of JVM, says “The partnership with OnlinePharm who secures a nationa-wide pharmacy network will help us tighten the grip on the pharmacy automation market.”
OnlinePharm is a professional pharmacy sales and marketing company and was established in April 2012 detached from Hanmi Pharmaceutical Col, LTD. The company has about 200 employees covering more than 1,500 pharmacies throughout the country. JVM is a manufacturer and supplier of hospital / pharmacy automation systems, software, and supplies and accessories. Its annual sales in 2012 recorded about 80 billion won.
■ Reported by Cheon, Seunghyun | 10:00 Jan 03, 2013
47[Global Leader Insights] JVM Co.,Ltd. 2013-02-01
[Global Leader Insight] JVM Co.,Ltd.
▲ Dedicated to pharmacy automation industry for more than 35 years, JVM has become theworld leader with its
impressive market shares of 90% (domestic) and 70% (international) backed by continuous investment toward
research & development as well as its complete in-house manufacturing capability and competitive marketing
strategies. Above is JVM headquarters and production facility located in Hosan-dong, Dalseo-gu, Daegu.
[Reported by Kim, Jangwook, Daegu] Headquartered in Daegu, JVM is a world leader in the pharmacy automation market with its unparalleled leading-edge technology regarding automated filling and packaging system for hospitals, clinics, and pharmacies. Committed to continuously realize a complete independency in product development, production, and marketing with its unique branding, JVM is also well-known as a company without a chairman. You can see Customer is referred to as chairman at the top hierarchy of the company’s organization chart.
■ Independent development, production, and marketing
Introduced the first manual tablet packaging system in Korean history in 1977, JVM has more than 35 years of rich experience and expertise in pharmacy automation industry. As the health insurance act was legislated in 1970s and strengthened in 1960s in Korea, Koreans demand for medical care continued to increase. More and more people visited hospitals and, naturally, more prescriptions had to be taken care of.
At that time, however, pharmacists had to suffer from time-consuming manual work to wrap prescribed tablets / capsules / powder with individual paper, making outpatients wait in a long queue. Kim, Junho, founder and vice president of JVM, got an idea from such inconveniency and devoted himself to developing the medicine packaging machine, and finally released the nation’s first manual medicine packaging system, Hyupsin Medical Equipment in 1978. This was the start of innovating Korea’s medicine filling and packaging culture. Hyupsin Medical Equipment began to go viral among hospitals, clinics, and pharmacies. It was a huge success. A lot of customers throughout the country did not mind waiting for months to purchase this product.
JVM continued its innovation by introducing semi-automatic filling and packaging system, followed by the ultimate Automatic Tablet Dispensing & Packaging System (ATDPS) in 1998, which marked a turning point of the company’s pharmacy automation system. In particular, JVM soon dominated the domestic market thanks to its unique and exclusive expertise and also set on taking over international market. Currently, ATDPS is acclaimed to be the 'world No. 1 product' with more than 90% of domestic market share along with top market shares in the world including 78% in Europe, 74% in North America, positioning itself as world leader.
▲ AccuPharm (Automatic Medication Management & Sorting System), ATDPS (Automatic Tablet Dispensing &
Packaging System), and VIZEN (Automatic Medication Inspection System) (from left to right, clockwise).
■ ATDPS, exported to 34 countries worldwide
JVM’s key product is ATDPS. ATDPS is the state-of-the-art automatic tablet dispensing & packaging system that automatically operates the entire process from reading the prescription date through network, to sorting, filling, and packaging the tablets, printing prescription information, and controlling expiry date and inventory. ATDPS has 5 types based on the capacity and country-specific specifications.
ATDPS is being exported to 34 countries in the world and more than 70% of users in North American and European markets are using JVM products. Apart from its top quality performance, another key contributor to such a huge success in the global market was structured & strategic partnerships with other world-leaders.
In America, JVM concluded an exclusive contract with McKesson, the largest pharmaceutical distributor in North America, which proved to be the successful marketing strategy, securing No. 1 market share in the market. In China, another exclusive contract with the No. 1 pharmaceutical distributor, Sinopharm, helped JVM gain more competitive edge in Chinese market. Unlike Korea, Japan, or Taiwan, China is new to pouch unit prescription and this opens a huge opportunity for JVM in Chinese pharmacy automation market in the future.
In addition to its innovative 'ATDPS,' the company also developed an automatic medication inspection system, called 'VIZEN' allowing safer and more accurate administration management by preventing any mistakes and errors at the inspection stage. VIZEN dramatically reduces inspection time helping to maximize work efficiency.
Also, JVM continues its aggressive investments in research & development (R&D) to go full speed ahead on developing other innovative products such as automatic medication management system to broaden the company’s portfolio.
Such innovations would never be possible without its bold and heavy investments in R&D for many years. 110 employees out of the entire 320 employees at JVM are searchers which take up more than 30%. And the R&D investment per annual sales is 6.8%, three times higher than average manufacturers.
Gaining diverse patents is another passion and focus of JVM. The legal battle against competitor on patents regarding ATDPS cost JVM tremendous time and money and the company learned a great lesson on how important patent registration and management were. Since then, JVM has been heavily focusing on this area. So far the company acquired 298 patents and another 214 are in pending.
JVM has been acclaimed as a promising SMB with 10 awards since 2010 including 'World Class 300,' 'Kosdaq Hidden Champion,' 'Great Work Place in Daegu,' and 'KOTRA Global Brand' and is expected to continue its innovations for many years to come.
Co-prosperity based on sharing
JVM has been actively contributing to society, spending 300 ~ 400 million won every year. JVM has been offering livelihoods support to the neglected for 15 years in Korea as well as other 32 countries including Afghanistan, Cambodia, and Philippines along with some African countries. Sponsoring uneducated children due to poor surroundings is another key area that JVM focuses. For instance, the company built schools in Tajikistan and Cambodia and is supporting the education projects for children. What is more inspiring is that such social contributions have been occurred continuously and the vice-chairman Kim visits those regions three or four times, becoming the exemplary of social contribution. Also, JVM's in-house volunteer club has been making a regular visit to local orphanages every quarter and offering financial support for 8 years.
Approximately 10% of entire employees are physically challenging. This is 4 times higher than the required disability employment rate of 2.5% and most of them are long service employees. JVM's social contribution goes on and it is now considering to establish a social welfare organization.
President Lee says, "we believe that chosen as World Class 300 and Kosdaq Hidden Champion was the fruit of our endeavor to patent application and innovations. Our devoted employees and solid marketing network world wide made Today’s JVM." "Our motto is to invest half for the present and another half for the future," he adds.
■ Reported by Kim Janguk | July 31st, 2012 17:23
46The INNOPOLISE Daegu appoints JVM as its first high-tech company 2013-01-21
The INNOPOLISE Daegu appoints JVM as its
first high-tech company
(Yonhap News, Daegu) Reported by Choi, Sooho = On the 8th of January, The INNOPOLISE, Daegu Technology Commercialization Center (or “the Center”) named JVM, Co. Ltd. (or “JVM”) - a medical system producer and manufacturer - to be the first INNOPOLISE high-tech company.
Headquartered in Seongseo Industrial Complex, Hosan-dong, Dalseo-gu, Daegu, JVM researches, produces, and manufactures complete automation in various pharmaceutical systems such as automatic tablet packaging systems and automatic medicine control system.
Also, JVM developed the innovative Automatic Tablet Dispensing and Packaging System (ATDPS) that gives pharmacists peace of mind in tablet sorting and packaging. JVM recently closed a deal to supply its ATDPS products to a leading pharmaceutical company in Korea.
The major benefits that JVM as INNOPOLISE’s high-tech company include 100% of corporate tax exemption, acquisition tax exemption for the business property for the next three years.
We will continue discover and foster promising high-tech small and medium businesses (SMBs) within the research and development area, Nah, Sangmin, the head of INNOPOLIS Daegu says.
■ Reported by Choi, Sooho | 15:29 Jan 08, 2013
<© Yonhap News All rights reserved.>
45Founded one or two schools in under developed regions in the world every year, charity works …. JVM 2012-03-16
Founded one or two schools in under developed regions in the world every year, charity works …. JVM co.
JVM co. is a company producing automated pharmacy systems and a listed company in KOSDAQ (the vice president, Joon-Ho Kim). It is the best global company in terms of the market occupancy although it is only a local business in Daegu city.
The company is dedicated to contribute to social welfare by doing charity works across the world satisfying the status of global company
Both domestic and international supports for local livelihoods for 15 years have been expanding to 32 countries including Cambodia, Philippines, Afghanistan and Africa. In addition to ongoing donations, the vice-president, Joon-Ho Kim visits each area three or four times a year to deliver hands-on service.
JVM co. has been building schools for under privileged
children in the country and in other parts of the world for
15 years and the vice-president, Mr. Kim has been visiting
the areas to provide hands-on charity works
JVM co. also actively supports educations for growing children. It establishes 1-2 schools and churches every year since 1999 to support orphans and it built and run a school in Phnom Penh in Cambodia. The vice-president, Mr. Kim said “we are actively investing in education so that these children can teach other under privileged children in the future when they are grown up.” The company spends about 3 – 4 hundred million won every year for charity works.
JVM Co. promises and continuous support rather than one-off donation and put it into practice. The company visits orphanages every quarter of a year to do charity works sparing cares and love for the last 8 years and it is planned to continue.
10% of staff in the company is the disabled. The company put the supports for under privileged people into practice. It is not easy for the disable to work for the company producing cutting edge medical system but the company managed to train them to develop their skill to the level of healthy staff with endurance.
Mr. Kim is planning to step back from the management and concentrate on charity work to help people with difficulties. He intends to establish a charity foundation to provide continuous support. He commented “I started to look around when I started to recover miraculously from lung cancer diagnosed in 1988” and added “I would like to make the children who cannot dream about their dreams only because of their poverty although they are talent and have their own dreams smile”.
44Customers are the president of the company… so, the current state of the company should be informed 2012-03-06
Customers are the president of the company… so, the current state of the company should be informed in detail.
Excellent corporates disclosed by KOSDAQ in 2011
Manufacturing semiconductor parts for flat-panel display system
43[I have been developing the company in this way] <7> Joonho Kim, The vice-president of JVM pro 2012-03-06
[I have been developing the company in this way]
<7>Joonho Kim, The vice-president of JVM producing automated medication dispensing system
‘Luck creates a monster and ordeal creates a true human.’
A journalist, Kyungseok Noh
42JVM is a company supplying automated medication dispensing system and is famous for not having a pre 2012-03-06
JVM is a company supplying automated medication dispensing equipment to hospital pharmacies or private pharmacies.
JVM pursuing ‘Independent development, independent production, unique marketing and proprietary brand’ doesn’t have a ‘president’. Joonho Kim, the vice-president of the company claims that “the chairman of the company is ‘customers’”. JVM, which was founded in 1978 as a private company and was incorporated in 1996, has transform from a company selling simple packaging machine to a global company advancing abroad after developing automated tablet dispensing & packaging service (ATDPS). The major product, ATDPS, is the state-of-the art automation system which automatically processes the whole course of medication dispensing from medication classification, packaging, printing administration information, managing expiratory date of the medications and stock quantities through its network once prescription details are entered. This system has a high entry barrier which enabling for JVM possessing a numerous patents relating to this system to grow steadily and continuously. Currently, JVM controls more than 90% of domestic market and has the greatest market share in the global market. The vice-president, Joonho Kim says “our company is a global company although it is only small and we will approach ‘customers’, the president of the company by growing steadily.”
A Journalist, Kyungseok Noh
Official tweeter of Daily newspaper