Olympus names endoscope expert as regional chief

By Kim Yoo-chul

Naoki Okada

Olympus has named an expert in the endoscope industry as the head of its Korean subsidiary, a move aimed at strengthening its medical equipment-related businesses here.

Olympus Korea said in a statement Wednesday that Naoki Okada will take over the top seat replacing the outgoing regional head, who was promoted as a senior executive at Olympus headquarters.

The new Korean chief joined Olympus in 1984. Since then, he has been managing the group’s endoscope-oriented businesses and those that have not been touched before by the Japanese technology company.

The statement added that Okada was the chief executive of the company's new medical business affiliate, T-Medix, for three years from 2004. After that, he was the senior executive at Olympus' Chinese subsidiary.

“The medical equipment market in Korea is attractive in terms of growth potential. I am happy to lead the Korean business. Based on my experience and business know-how in related fields, I will try hard to expand Olympus' medical business,” Okada was quoted as saying in the statement.

Olympus is well known as a major producer of cameras. However, the Tokyo-based outfit has been consistent in diversifying its portfolio by focusing on medical equipment.

Olympus Korea is teaming up with local medical laboratories and leading hospitals to share its business know-how and to promote its advanced medical equipment as the Korean unit is competing with General Electric of the United States and Siemens of Germany in the industry.

The new regional chief will unveil his business strategies for the Korean market in an event celebrating its agreement with the Incheon regional government to build a medical training center, there, on May 12, according to the statement.