3M’s Korean unit to invest in health and safety products

The Korean unit of the U.S.-based conglomerate 3M said Tuesday that it would invest in the health and safety business as it attempts to find a new growth engine in the Korean market.

Celebrating the 40th anniversary of its Korean operation, 3M Korea said it would seek new business models using data analytics to better understand customers’ needs, especially in the health and safety sector.

“With the advent of the fourth industrial revolution and the mega-trend of the aging population, we observe a rising demand for products and solutions in the area of safety and health care,” 3M Korea’s president, Amit Laroya, said during a press conference in Seoul.

3M Korea currently produces safety products to prevent, or respond to, accidents in areas including food production, transportation and military, the company said. Yonhap