Corporate Story

1.png
 

2002

Discovery of Potential

In the beginning, we were a small company with about 40 employees.
The company sold X-ray equipment but didn’t have a clear target or mission.

We needed to focus on something that we could do well, something we could be the best in the world at.

After reviewing hundreds of items, Vatech decided to try its hand at the dental X-ray equipment market.

Dental X-ray equipment was 100% imported at the time. No one tried it because the market was small, and developing the technology was difficult. 

So, dentists were forced to use very expensive imported equipment costing more than 100 million won.  

By every account, it was a tough challenge. But we believed that customers would open their hearts once they saw our cutting-edge technology, reliable product, and sincere hearts.

A turnaround in the dental imaging business
 
2.png
 

2003–2004

Birth of the first equipment

Many people expected us to  fail, but we didn’t stop researching.
because every employee worked together, we were able to develop the first domestic dental x-ray equipment. 

However, taking the road traveled less by took us further than our expectations. The launch of our first product kept delayed due to a lack of experience.

When the employees were getting tired, the sales team left the office with brochures.

The sales team had confidence that we could succeed in development, so they went out to sell our equipment even before it was launched. 

Sometimes they were kicked out for soliciting, and sometimes people encouraged them saying they were patriotic.

After one year of around-the-clock work  from all of the development and sales staff,  we were finally able to develop Korea’s first dental x-ray device

We invited people who didn't believe that Korea could make state-of-the-art medical equipment and showed it to them.

On May 27, 2003, our first dental x-ray was installed in a Busan dental clinic,  then immediately exploded in popularity.

Birth of Korea's first dental x-ray equipment
 
3.png
 

2005–2009

Entering the global market

We took part in the world's largest dental expo held in Germany.

We installed a small booth in the corner of the expo, but not many visitors were interested in an unfamiliar company.
The next day, we put up a Korean national flag, and Korean dentists who noticed the flag encouraged us.

It was the moment we realized there was a glass ceiling. After that, we changed our goal to becoming number 1 in the world.

We needed an unprecedented product that would surprise the world. We began to develop a 3-in-1 machine with Panorama, Cephalo, and CT functions all in one device.

At that time, no other device in the world combined these three functions together. It was much more economical because it was possible to take all three tests with one device. It was perfect for dental offices since it was possible to take X-rays in a small space.
As expected, it became a huge hit. With this equipment, Vatech's exports increased more than 10 times.
We returned to the same expo in Germany after 4 years. Inquiries from visitors didn’t stop pouring in.

Four years after experiencing humiliation at the show, we sang the Korean national anthem at the Rhine River in Germany in celebration.

Developing the world's first 3-in-1 X-ray system and growing into a global company
 
4.png
 

2010–2017

Trying Times

In order to become the world's No. 1, we had to have a competitive edge that others didn’t have.

To own a market-leading technology and to respond to our customer more promptly, we had to be capable of developing, designing and producing our products

At that time, we were also spending considerable revenue on buying core components and materials from overseas.
To be more competitive, all of these had to be different.

Vatech began to develop X-ray detectors and replaced imported parts one by one with parts produced by domestic companies.

Gradually, our efforts started to be paid-off. We were able to release a new product more quickly yet at a lower cost.
And it became our competitiveness in the global market. As our products were sold in more countries and more customers recognized us as ‘a reliable partner with quality goods’

The number of our partners increased as well.
In the meantime, Vatech established a holding company named ‘Vatech Ewoo holdings’ to restructure the company and align different businesses for X-ray systems - H/W, S/W, detectors, marketing, and service together.

 

Each division has later grown into a prominent independent company.

Dominating the industry with innovation and vertical integration of business.
 
5.jpg
 

2018 – Present

A leading player in the global market.

Vatech is now heading for No.1 in the global market.
86% of the company's revenues are coming from overseas.
We work with 300 partners in Korea to deliver the best quality products to each market.
Today, customers over 100 countries recognize Vatech as a trustworthy partner who brings out innovations no one has.

OVatech’s ‘Green CT’ series which dramatically reduced the radiation exposure dental staff and patient face

have been much loved in the United States and Europe. And it has captured customers' hearts with an unrivaled 10-year warranty.

Meanwhile, Rayence was listed and became the world's No. 1 brand in the Intra Oral Sensor market.

Today, it is a leading player for the X-ray detector market with a special focus on security, industrial, and veterinary imaging solutions.

Vatech Networks is getting close to the world’s no.1 in each market.
With our passion, expertise, and hearts devoted to a better world, we will become No. 1 and continue to share our technologies and services with customers worldwide.

Growing into a global healthcare enterprise
 
 
 

Awards

2019

  • Vatech – Won the Excellence Award at Jeong Jin Gi Media Culture Awards
  • Rayence – First mass-production of the Super IGZO detector for video X-ray detection
  • Woorien – Released the world's first animal-only dental panorama “MyVet Pan i2D”
  • Vatech Korea – changes its name to Vatech MCIS
  • Vatech Mexico – Received a Commendation from the Minister of Industry at the “7th Companies Loved by Korea” selected by KOTRA
  • Ewoosoft – Won Grand Prize at 2019 Korea Software Technology Awards
 

2018

  • Vatech – Won the Minister of Gender Equality and Family Award for Good Employment
  • Vatech – No. 1 patent application worldwide in dental imaging for 5 years
 

2017

  • Vatech – Won the 100 Million Dollar Export Tower Vatech Networks – Won Creating Shared Value Porter Award
 

2016

  • Vatech – Won Korea's KOSDAQ Award
  • Rayence – Chosen as World Class 300
  • Vatech Networks Ewoo-i Company Daycare is established and operated. Selected as an exemplary workplace for daycare, Received Minister of Health and Welfare Award
  • Vatech Networks Ewoo-i Company Daycare, Grand Prize for Space Environment Design, selected by the Korea Labor Welfare Corporation
 

2015

  • Rayence – Awarded the 50 Million Dollar Export Tower on the 52nd Trade Day
  • Vatech – 2015 Grand Prize in Patent Management awarded by the Ministry of Science and ICT
  • Vatech & Rayence – Won the 2015 Korea’s Happy Enterprise Award
 

2014

  • Rayence – Selected as a good company to work in Gyeonggi-do
  • Rayence – Received the Silver Award at the Korea Technology Awards and selected as one of the top 10 new technologies
 
Move Top