2023-09-03 07:17:52
Smart Cottages launched in Korea… Cooling and heating/built-in, leaping to the top tier
Ryu Jae-chul, President of LG Electronics H&A Business Headquarters
LG Electronics is pushing for a paradigm shift in household appliances. It changes from product sales to a provider of home solutions. ‘Smart’ is the default. LG Electronics’ newly proposed products are also well settled in the global market.
LG Electronics announced on the 3rd that it held a press conference at the ‘IFA 2023’ held in Berlin, Germany on the 2nd (local time).
“We will provide a smart home solution that integrates ▲innovative home appliance technology including built-in ▲advanced energy technology ▲upper appliances on a different level,” said Ryu Jae-cheol, president of LG Electronics’ Home Appliance & Air Solution (H&A) business division. “We will change the paradigm of the global home appliance market so that more customers can experience unprecedented convenience at home,” he said.
Last July, LG Electronics presented its goal of becoming a ‘smart life solution company’. The H&A Division promotes ‘Zero Labor Home, Makes Quality Time’.
The H&A division unveiled the ‘LG Smart Cottages’ at IFA 2023. It is a modular house that combines LG Electronics ▲energy, heating and cooling technology ▲living appliances. We cooperated with GS Construction,
President Ryu said, “We plan to launch Smart Cottages in Korea first, and we are discussing with local governments,” and “Other countries such as Europe and Australia are also showing interest.”
He also added, “Recently, the demand for second houses has been verified to the extent that the term 5 provinces and 2 villages (5 days is city, 2 days is rural) has been coined.”
LG Electronics aims to become a global top-tier company in the home and commercial HVAC business by 2030.
President Ryu explained, “The core of the air conditioning business is compressor and inverter technology,” and “LG Electronics has the world’s best competitiveness.”
It is also promoting the No. 1 built-in home appliance in Europe. Market research firm Euromonitor estimated the European built-in market at $24.4 billion (approximately 32.24 trillion won) by 2022. 40% of the global built-in market.
Lee Hyun-wook, executive director of the kitchen solution division of LG Electronics’ H&A business division, emphasized, “Europe is the home of built-ins, and there are many traditional powerhouses, but we will achieve the second growth here.”
LG Electronics IFA 2023 exhibition hall view
On the other hand, following the washer and dryer, the competition for clothing care machines started in earnest. It is a product group that LG Electronics has created the market for. At this IFA 2023, Germany’s Miele and others introduced new clothing management devices.
President Ryu said, “There were many difficulties in promoting new home appliances alone,” and evaluated “a partner that can grow the market rather than thinking that there are more competitors.
The Elec = Reporter Yoon Sang-ho crow@thelec.kr
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