Boiler Company Making Air Conditioners · Fan Company Making Heaters

No Off-Season... Guiturami's Cooling Sales Surpass Heating Sales

[Table] Sales Proportion of Gwiturrami Shinil

[Asia Economy Reporters Kim Jong-hwa and Kwak Min-jae] In Korea, where summer and winter are distinct, the heating and cooling appliance manufacturing industry is like a modern-day "umbrella and straw shoe business," but these days, it seems less meaningful to distinguish between heating and cooling appliance companies. This is because boiler companies also produce air conditioners, and fan companies also manufacture heaters.

Representative companies are Gidulami and Shinil Electronics. Gidulami is familiar to consumers as a manufacturer of boilers and carbon mats for winter heating, but in 2020, it launched its first window-type air conditioner, and last year introduced a storage-type "electric water heater." By continuously releasing "products without off-seasons," it has established a presence in the cooling appliance market as well. The window-type air conditioner, which became a hot topic after selling over 10,000 units within a month of its launch, is scheduled to release a new model next year. The electric water heater, popular in places like beauty salons and offices that use hot water even in summer, consistently generates sales throughout all four seasons.

Window-type air conditioner by Guiturami.
Photo by Guiturami

Along with this, Gidulami produces and sells various home appliances such as the "Ventilation Plus Air Purification System," which simultaneously purifies air and ventilates while recovering and recycling energy lost with indoor air; "Agricultural Product Dryers" used for drying agricultural products, fruits, seafood, and processed foods; and "Carbon Monoxide Detectors" that can be used for over five years without battery replacement, establishing itself as a comprehensive energy and home appliance company.

Gidulami Group transitioned to a holding company structure in 2019. Leading with the holding company Gidulami Holdings, it successively acquired subsidiaries including Gidulami Beomyang Cooling (2006), Shinseong Engineering (2008), Century (2009), all specialized in cooling and air conditioning, as well as city gas supplier Gidulami Energy (2016). With strong performance in home air conditioners and commercial/industrial special air conditioners, the group is expanding its presence in the cooling market.

Starting in August, Gidulami will enter a production system for boilers and carbon mats. The sales ratio shows that the cooling sector accounts for 41%, surpassing the heating sector, including boilers, at 32%. Energy accounts for 16%, and leisure, dining, media, and other sectors make up 11%.

A Gidulami Group official said, "Due to the seasonal limitations of boilers, the peak season was only five months from October to February of the following year. To overcome this, we have pursued business diversification since the early 2000s," adding, "Since last year, sales from cooling and air conditioning businesses have surpassed those from our core boiler business, growing into a company without an off-season."

Camping fan heater and portable bag from Shinil Electronics.
[Photo by Shinil Electronics]

Shinil Electronics, the number one fan seller in Korea, has led the market for over 60 years as a symbol of fans, but it is widely known as a prestigious brand for seasonal home appliances. Its portfolio is diverse, including general household electric heaters, camping fan heaters, large hot air heaters used outdoors such as at ski resorts, floor heating carpet mats, electric mats, and humidifiers for indoor humidity control.

Since launching its first camping fan heater in 2010, Shinil Electronics has gained popularity as camping culture has spread, and its ultra-energy-saving eco heater, launched in 2016 with low power consumption and excellent heating effect, continues to be popular. In 2018, it signed a supply contract worth 5.6 billion KRW with the Pyeongchang Winter Olympics Organizing Committee to provide heating equipment and other common goods, supplying various radiators and electric warmers to stadiums and other venues.

Shinil Electronics typically begins winter appliance production in August. The sales ratio is not significantly different between summer and winter appliances: summer appliances account for 55%, winter appliances 25%, and living, kitchen, and environmental appliances 20%.

A Shinil Electronics official said, "Sales of camping fan heaters, popular among younger generations, have increased every year, and we plan to increase supply by about 40-50% this year," adding, "As a prestigious brand for seasonal home appliances, we plan to develop and produce various products that meet consumer demands."

This content was produced with the assistance of AI translation services.