Starkey Korea reaches sales agreement with MED-EL Korea

By Jhoo Dong-chan

Starkey Korea signed a cooperative deal with MED-EL Korea, Austria-based implantable hearing device maker MED-EL’s local unit in Korea, to mark the nation’s Ear Day on Sept. 9.

Under the deal, both sides will jointly develop the so-called “Total Hearing Solution,” a sales strategy to introduce various hearing solutions, including hearing aids and ear implants, to hearing-impaired people more efficiently.

MED-EL Korea also agreed to cooperate with Starkey Korea’s research academy to study various technologies together such as vibrant soundbridge, bonebridge and cochlear implant technologies. They will recruit future hearing device experts through the academy programs as well.

“Starkey Korea and MEL-EL Korea reached the deal to help more hearing-impaired people in the country,” said a Starkey Korea official.

“We see more elderly people who are hard of hearing nowadays since the country has become an aging society. Some of them are so deaf that even hearing aids would not be helpful, and an increasing number of people undergo various ear implants, including bonebridge and cochlear implants. Hearing aids and ear implant technologies are complementary and do not replace each other. The cooperative deal between the two companies will suggest a total solution for all types of hearing-impaired people.”

During the agreement ceremony on Sept. 9, the two companies’ CEOs ― Starkey Korea CEO Richard Shim and MED-EL Korea co-CEO Eric Yun ― also had a proclamation event for more ethical and transparent business management. Dongsan Hearing Aid CEO Goodman Seo and a number of industry insiders also participated in the event.

Under the proclamation, participating businessmen vowed to: refuse all kinds of bribery and unlawful requests, not abuse their positions or power, respect and offer opportunities to each employee, and regularly engage in social contributions for disabled people.

“The cooperative deal with MED-EL Korea is a part of Starkey Korea’s commitment to improve the quality of disabled people’s lives,” said Shim. “We hosted the event to demonstrate our commitment and intentions about our social responsibilities for disabled people to mark Ear Day on Sept. 9.”

Starkey Korea first started its sales operation in Korea in 1996 as a local affiliate of the largest U.S. hearing aid maker Starkey Hearing Technologies. It now has the No. 1 market share and customer satisfaction rating in Korea’s hearing aid industry.

Starkey Hearing Technologies recently took over domestic hearing aid maker Bokeum, expanding its local branches in Korea with five other affiliated companies ― Starkey Korea, Keumgang, Sorisem, Goodmorning and Joeunsori.

Under the slogan of “We never say no,” Shim said the company never says no even to customers’ unreasonable demands. It also provides one-day service, under which the company delivers a customized hearing aid within a day after receiving an order.

Thanks to the company’s customer-centered service, Starkey Korea’s sales have continued to grow for years, and made Shim the longest incumbent CEO among foreign companies in Korea.

MED-EL is a multinational company that conducts research in the field of hearing loss and develops and manufactures implantable hearing devices.

Founded by Austrian scientists Ingeborg and Erwin Hochmair in 1990 after developing the world’s first passive single-channel cochlear implant, MED-EL has led the world’s ear implant industry for decades.

The company currently has 26 overseas branches and a total of 1,400 employees in 96 countries around the world.

It started its sales operation in Korea in 2009, supplying top-quality hearing implants to over 100 hospitals here.