SEOUL, KOREA - The self-monitoring blood glucose meter brand “CareSens” of i-SENS, Inc., has been selected as “The World-Class Product” for the two consecutive years at the World-Class Product Ceremony which was held at COEX on December 10th. This selection is very significant to i-SENS because other 49 companies that won last year were dropped in this year’s award.
The World Class Product Ceremony was started in 2001 by the Ministry of Knowledge Economy to activate exports in Korea. It has been awarding companies with world market share of more than 50 million dollars or products within 5% of the global market share and with standing of top five in the global market. Also, the next-generation products are selected if it is likely to show a high level of contribution of exports within the next 5 years.
Blood glucose monitor by i-SENS is developed based on cutting-edge biosensor technology. i-SENS has been exporting to 60 different countries, including the United States, Europe, and Japan, where exports are responsible for more than 80% of i-SENS’ total sales. i-SENS obtains over 86 patents as well as the FDA and CE-mark, and also have 123 export certificates which are used to export in 32 different countries.
The Wonju factory has a production capacity of 1 billion strips per year, and now the new factory in the Songdo Economic Zone adds another 0.7 billion to that number. The Songdo factory is expected to be another niche for company growth.
In the meantime, i-SENS was recently awarded with the ‘30 Million Dollars Export Tower’ and the company is about to be listed on the KOSDAQ.