Industrial Merit Medal: Kim Wang-hwan, CEO of Korea Aero Co.
Kim Wang-hwan, CEO of Korea Aero Co., received the Industrial Merit Medal in recognition of contributions to localizing air compressor production and advancing energy efficiency — achievements credited with driving improvements in industrial productivity and environmental protection.
Since founding the company in Daejeon in 1987, Kim has spent 39 years focused exclusively on air compressors, leading the push to replace foreign-made equipment with domestically developed alternatives. Over 26 years, Korea Aero invested more than 5 billion won ($3.74 million) in research and development, producing a water-lubricated "oil-free single-screw air compressor" and securing more than 30 patents.
The company also introduced IoT-based real-time monitoring and predictive maintenance to raise equipment uptime and improve productivity at customer firms. A high-efficiency oil-free air compressor using variable-speed motor and inverter drive technology cuts power consumption by 20 to 45 percent depending on the operating environment, a development recognized for its contribution to carbon neutrality and environmental protection.
Oil-free air compressors use water instead of oil, applying an innovative technology in which water handles sealing, lubrication, cooling and rust prevention simultaneously. The approach resolves longstanding problems associated with conventional oil-based compressors and has drawn wide praise for delivering cost savings, regulatory compliance and easier maintenance to customers at the same time.
Kim has also worked to strengthen small and medium-sized enterprises through industry-academia partnerships and collaboration with government-funded research institutes. Since taking office as chair of the Korea International Trade Association's Daejeon, Sejong and South Chungcheong Province corporate council in March 2024, Kim has actively supported export promotion efforts for member companies in the region.
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