[THE INVESTOR] Daewoo Electronics said on Sept. 13 it has launched a new small dryer mainly for single- or two-person households.

The dryer, named “mini,” is roughly one-fifth the size and a quarter the weight of a conventional machine, the company said. Its width of about 40 centimeters allows it to fit in small places. 

The so-called PTC heating system is used in the dryer, meaning the rise in temperature is not excessive, thus reducing energy consumption, Daewoo Electronics said.

The gadget can dry up to 16 towels in a one-hour cycle while also lifting dirt and lint from the garments, the company said.

The dryer is priced at between 300,000 (US$268) and 400,000 won, with models offered in dark silver and white, according to the company.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)