LG EXPANDS ITS HVAC BUSINESS THROUGH TARGETING B2B CUSTOMERS IN KEY ASIAN MARKETS

Company Reinforces Industry Leadership with Summit for Technical Consultants from Across Asia

SEOUL, South Korea, May 30, 2024 /PRNewswire/ -- LG Electronics (LG) is currently hosting the inaugural LG HVAC Consultant Leaders' Summit – LG Alumni Event – in Seoul, South Korea (May 28-31). The summit provides heating, ventilation and air conditioning (HVAC) consultants from across Asia, with the valuable opportunity to benefit from LG's extensive industry insight and to learn more about its advanced technologies. The first-of-its-kind event is expected to bolster the company's leadership in the Asia region, which is now the world's most rapidly-expanding HVAC market.

Attending the summit were 46 consultants from five Asian countries: Indonesia, Singapore, Thailand, the Philippines and Vietnam. Technical consultants play a vital role in the HVAC business, supporting customers in important areas including system design, installation guidance and maintenance support. By collaborating closely with consultants in each market, LG is able to provide a differentiated customer experience that adds significant value to its industry-leading HVAC solutions.

With its high-growth potential, Asia has emerged as a key market for the expansion of LG's HVAC business. Driven by an increase in commercial construction and stricter government energy-saving policies, the region is experiencing escalating demand for smart HVAC systems offering integrated IoT control, building automation and real-time performance monitoring. A respected provider of high-efficiency residential and commercial HVAC solutions based on innovative heat pump technology, LG is working with universities and research institutes to develop the next generation of cutting-edge heat pump systems.

In 2023, LG announced its plan to more than double the sales volume of its residential and commercial HVAC business by 2030 – an ambitious goal that will secure the company's position as a global top-tier HVAC solutions provider.

Through a series of engaging seminars being led by industry experts, the consultants participating in the LG HVAC Consultant Leaders' Summit – LG Alumni Event will come away with new insight into the trends and technologies shaping the HVAC landscape in Asia and worldwide. Key topics include zero-carbon buildings and HVAC in the era of Artificial Intelligence.

With Asia as the starting point, LG aims to strategically expand its consultant network around the globe, extending its outreach efforts to regions with high-growth potential, such as Central and South America.

"It's a pleasure to be sharing our cutting-edge technologies and industry insights with professional HVAC consultants from some of Asia's most dynamic markets," said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. "We will continue to collaborate closely with our consultant network to ensure the best customer outcomes and to grow our influence throughout the Asia region."

About LG Electronics Air Solution Business Unit
LG air conditioning provides optimized solutions for every sector and climate with a wide range of cutting-edge systems that bring exceptional heating, ventilation and air conditioning performance to buildings worldwide. Through our unmatched expertise and industry knowledge, we respond directly to the needs of businesses seeking digitalized and eco-conscious HVAC solutions. We are the partner your business has been looking for, and are well prepared to integrate our leading technology into your day-to-day operations, supporting you and your business every step of the way. For more information, please visit www.lg.com/global/business/hvac.