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| Song Dae-hyun, right, president of home appliance and air systems at LG Electronics, poses with Gwangju Techno Park President Kim Sung-jin, left, Industry Minister Sung Yun-mo, second from left, and Gwangju Mayor Lee Yong-seop after signing a memorandum of understanding to foster the air purifier industry in Gwangju at the Gwangju Techno Park industrial complex, Monday. / Courtesy of LG Electronics |
By Baek Byung-yeul
LG Electronics has joined forces with Gwangju City to nurture the air purifier industry amid worsening fine dust pollution, the company said Monday.
The company signed a memorandum of understanding (MOU) with the Gwangju Metropolitan City Government and Gwangju Techno Park industrial complex to promote local companies in the air purifier industry.
LG said the gist of this MOU is around creating jobs, co-conducting R&D projects and fostering the ecosystem of manufacturing partners in the dust filtering industry.
The company added the MOU is in line with the government's plan to invigorate the local economy. The Ministry of Trade, Industry and Energy previously announced last December its plans to develop key industries in 14 cities and provinces nationwide, and Gwangju and its neighboring South Jeolla Province were designated as the placesto nurturethe air purifier industry.
"LG decided to ink the MOU which is in accordance with the government's plans to boost the regional economy," an LG spokesman said.
With the worsening fine dust pollution, the country's air purifier market has seen explosive growth over the past few years.
The industry ministry estimates the air purifier industry was at 1 trillion won ($883 million) in 2016 but the figure grew about 2.5 times larger in just two years. LG presumed the industry will grow to 3.7 trillion won by 2020.
However, the ministry said the industry needs more technological development to produce specialized air purifiers for large spaces such as underground shopping areas, schools and hospitals because air purifier machines currently available on the market are mainly for household use.
"The MOU is significant as it can contribute to revitalizing the regional economy, and seek cooperation through partnerships in research and fostering (the development of) experts,"Industry Minister Sung Yun-mo said.
Under the MOU, the three participating organizations will co-conduct case studies on how to improve air quality in various kinds of places such as living spaces, schools and hospitals. They will also co-develop air purifier products that are specialized for each area.
Localcompanies in the air purifier industry will also be able to receive technical support ranging from design, patent and other issues related to products.
The ministry expects the MOU agreement will become a cornerstone to establishing an industrial cluster for the air purifier industry and can be another type of job creation model.
"In cooperation with LG Electronics, we will support companies in the air purifier industry to release air purifier products featuring artificial intelligence technology, a core technology of the Fourth Industrial Revolution," Gwangju Mayor Lee Yong-seop said.
LG also said the MOU will become an important milestone for the country's air purifier industry, which is expected to have huge growth. "We will tightly cooperate with Gwangju City and Gwangju Techno Park to create sustainable customer value," said Song Dae-hyun, president of LG's home appliance and air systems.
