Fostering such an industrial ecosystem is one of the government’s regional initiatives to stimulate the recovery of 14 regions that are facing industrial hollowing out. The effort will focus on the development of technologies and products for air purifiers, humidifiers and dehumidifiers amid growing demand for those products.
The signing ceremony on Monday was attended by Minister of Trade, Industry and Energy Sung Yun-mo, LG Electronics President Song Dae-hyun and Gwangju City Mayor Lee Yong-seop at Gwangju Techno Park in Gwangju in southwestern Korea, the nation’s sixth-largest city.
Under the agreement, LG Electronics, Gwangju City and Gwangju Techno Park will strive to create an “air industry ecosystem” in the city by promoting research and development, fostering specialists in the field, and cooperating on production and manufacturing.
“The agreement signed today has significant meaning in the sense that it will help the regional economies facing industrial hollowing out through the recovery of industrial ecosystem and partnership to foster research and personnel,” said Minister Sung at the ceremony.
The parties intend to carry out joint research to improve air quality in diverse spaces including residential areas, schools and hospitals. They will also develop air purifiers customized for different situations through research on technologies, including sensors and filters.
The market for air purifiers has expanded significantly as a result of concerns over fine dust, as well as higher income levels and growing interest in health. The local market for air purifiers grew in value from 1 trillion won in 2016 to 2.5 trillion won in 2018, according to the government.
By Shin Ji-hye (firstname.lastname@example.org)