Olympus Opens New South Korean Branch Nov 24, 2003

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Japanese digital camera maker Olympus Optical's Korean unit is to opening a branch in Busan, South Korea's second-largest city.

The opening of the Busan branch is aimed at boosting its sales and customer service in the nation's southern regions, the company said.

The Olympus Optical Co., which began operations here in 2000, is the leader in the country's digital camera and image equipment market. The company is closely competing with rival Sony Corp. in the Korean market, where digital cameras have grown in popularity.

For the first-half ended June 30, Olympus Optical had a 17.5-percent share of the digital camera market in South Korea, compared with Sony's 17.4 percent, according to data by GFK Korea, a market research firm.

For all of 2002, Olympus Optical's Korean unit posted 4.9 billion won (U.S. $4 million) in net income on sales of 78.6 billion won. (Yonhap, Asia Pulse)

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