LG Electronics (066570.KS) is targeting Korea's "heating electrification" market, drawing on 15 years of accumulated technology.
The company said Tuesday it will launch a new "all-in-one heat pump system boiler" in Korea, which integrates the outdoor unit and key components into a single system. The new product significantly improves installation convenience by allowing existing homes to use their current hot water piping without requiring separate refrigerant piping work. ★See this newspaper's April 30 edition, Page 13.
The new product is a high-efficiency heating system that uses air as its energy source. It can reduce energy costs by 40 to 60 percent compared with conventional fossil fuel boilers. The company said that, factoring in government subsidies for heat pump adoption and energy savings, the initial investment can be recovered within five to six years.
Applying high-performance technology proven in the European market, the system provides stable hot water supply even in sub-zero temperatures. It adopts R32 refrigerant, which has a low global warming potential (GWP), to reduce carbon emissions, and enhances user convenience through remote control via the LG ThinQ app.
LG Electronics plans to secure a stable supply chain through domestic production of key components and build a full heat pump lineup ranging from residential to industrial applications. "Based on the business experience we have accumulated in the global market, we will present a new standard for eco-friendly, high-efficiency heating to domestic customers as well," said Lee Jae-sung, president and head of LG Electronics' ES Business Division.
