LG Hosts Global Heat Pump Consortium in Seoul to Enhance HVAC Technology Collaboration

 LG HOSTS GLOBAL HEAT PUMP CONSORTIUM IN SEOUL TO ENHANCE HVAC TECHNOLOGY COLLABORATION

A Joint Effort Between LG and Top Research Universities, Consortium to Accelerate the Development of Next-Generation Heat Pump and Establish Industry Standards

SINGAPORE, Sep. 25, 2024 - LG Electronics is hosting the first-ever meeting of the Global Heat Pump Consortium in Seoul, South Korea, from 23 to 26 September 2024. A cooperative venture between LG and a growing number of international universities, the consortium is focused on developing new, more efficient heat pump technologies, including solutions designed to handle harsh climatic conditions. The event brings together LG personnel and academics from participating universities to introduce heat pump technologies and discuss industry-academia projects being conducted by each of the consortium’s regional clusters.

The Global Heat Pump Consortium comprises LG-led heat pump R&D consortiums established in Alaska, USA (November, 2023) and in Oslo, Norway, and Harbin, China (June and August of 2024, respectively). The consortium also includes a South Korean cluster, with LG working collaboratively with respected universities in Seoul and Busan to drive heating, ventilation and air conditioning (HVAC) innovation.

On the first day of the event, LG introduced key heat pump technologies and products from its industry-leading lineup of high-efficiency HVAC solutions. Each regional consortium then provided an update on its specific research tasks and shared its current progress in evaluating high-performance heat pump tech for challenging climates. The inaugural meeting of the global consortium is also offering attendees valuable learning opportunities, with seminars and discussions on topics including the latest HVAC industry and market trends, and future technologies for region-specific heat pump solutions.

Through cooperating with universities known for their top-tier HVAC research programs, LG is strengthening its own R&D capabilities and accelerating the development of the next generation of heat pumps. The company anticipates that the groundbreaking work being carried out by the consortium will also help strengthen its competitiveness in the global heating and cooling solutions market.

Internationally, the demand for high-efficiency, low-carbon-emission heat pumps is rapidly increasing, in large part due to the worldwide electrification and decarbonization trends. Solidifying its status as a technology leader and responsible corporate citizen, LG is leveraging its cutting-edge heat pump technology to deliver region-specific heating and cooling solutions for the North American, European, and Asian HVAC markets.

At an investor forum in August, LG highlighted ‘B2B acceleration’ as one of its four key strategies for business portfolio innovation. The HVAC business, a major component of the company’s diverse B2B portfolio, has become a market leader based on the strength of its advanced, highly-efficient core technologies, such as inverter compressors, heat exchangers, and AI engines.

Around the globe, LG is enhancing the capabilities of its HVAC business through creating locally complete systems encompassing R&D, sales, manufacturing and maintenance. In addition, the company currently operates five Air Solution Research Labs – with facilities located in Korea, North America, Europe and India – and has a network of HVAC academies spanning 43 countries and training over 30,000 engineers annually.

“We are committed to accelerating our HVAC business, with heat pump innovation as the cornerstone of our vision,” said James Lee, head of the Air Solution Business Unit at LG Electronics Home Appliance & Air Solution Company. “Through the Global Heat Pump Consortium, we aim to lead the HVAC industry with decarbonisation solutions aligned with the global electrification trend.”

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About LG Electronics Inc.

LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four companies – Home Appliance & Air Solution, Home Entertainment, Vehicle component Solutions and Business Solutions – combined for global revenue of over KRW 80 trillion in 2022. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, service robots, automotive components and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

About LG Electronics Home Appliance & Air Solution Company

The LG Home Appliance & Air Solution Company is a global leader in home appliances, air solutions as well as smart home solutions featuring LG ThinQTM. The company is creating various solutions with its industry leading core technologies and is committed to making life better and sustainable for consumers and the planet by developing thoughtfully designed kitchen appliances, living appliances, HVAC and air purification solu-tions. Together, these products deliver enhanced convenience, superb performance, efficient operation and sus-tainable lifestyle solutions. For more news on LG, visit www.LGnewsroom.com.

About LG Electronics Singapore Pte Ltd

LG Electronics Singapore Pte Ltd (LG Electronics Singapore) is a fully-owned subsidiary of LG Electronics Inc., the pioneer and market leader of the Korean electronics industry. LG Electronics Singapore operates three business units – Home Entertainment, Mobile Communications and Home Appliance & Air Solution. In recognition of its vision to enrich people’s life with smart technologies and innovative design, LG Electronics Singapore has been recognized with prominent local and international accolades, such as the CNET Asia Editor’s and Readers' Choice Awards, HWM+HardwareZone.com Tech Awards, Red Dot Design, and GfK No. 1 Awards. For more information, please visit www.lg.com/sg.

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