LG Electronics Launches Global Heat Pump Consortium... HVAC Technology Collaboration

First Global Event Inviting Researchers from North America, Europe, and Asia
Strengthening R&D of Next-Generation Heat Pumps with Prestigious Global Universities
Goal to Become a Global Top-Tier Compressor Company by 2030

LG Electronics is strengthening its heating, ventilation, and air conditioning (HVAC) business by launching a global heat pump consortium, inviting researchers from North America, Europe, and Asia to Korea. This marks the first global integrated event focused on the development of next-generation heat pump technology.

Jo Joo-wan, CEO of LG Electronics, is delivering a welcome speech at the launch ceremony of the Global Heat Pump Consortium held on the 23rd at LG Science Park in Magok, Gangseo-gu, Seoul.
[Photo by LG Electronics]

LG Electronics announced on the 24th that it will hold the consortium launch ceremony for four days starting from the 23rd at Magok Science Park in Gangseo-gu, Seoul. Professors from overseas universities participating in LG Electronics' advanced heat pump consortium attended the event. Last November, LG Electronics established heat pump research consortia in major cold regions: North America (Anchorage, Alaska, USA), Europe (Oslo, Norway) in June this year, and Asia (Harbin, China) in August.

Participants introduced LG Electronics' differentiated heat pump technologies and key products. They also discussed industry-academia projects conducted together with regional consortia.

On the first day of the event, Professor Getu from the University of Alaska Anchorage of the North America consortium presented on "Cold Region Air Source Heat Pump Monitoring," and Professor Moongeun Kim from Oslo Metropolitan University of the Europe consortium presented on "Cold Region Field Testing of Europe-Specialized Heat Pumps." They shared the current status and challenges of heat pump technology research that delivers high performance even in extreme climates.

During the remaining days of the event, discussion seminars will be held on heat pump product trends and future technologies according to the climate characteristics of each country.

LG Electronics stated that it plans to further strengthen HVAC research and development (R&D) by closely collaborating with top-tier global universities through the consortium. They aim to solidify market competitiveness with innovative products and solutions developed by applying the demonstration results of heat pump technologies from each consortium.

LG Electronics is targeting the HVAC market with customized heating and cooling solutions tailored to key market regions such as North America, Europe, and Asia. In particular, high-efficiency heat pumps that reduce carbon emissions are experiencing a surge in demand following global electrification and eco-friendly trends. According to market research firm IBISWorld, the global HVAC market size was estimated at approximately $58.4 billion (about 78 trillion KRW) last year and is expected to grow to $61 billion (81 trillion KRW) by 2028.

Jo Joo-wan, CEO of LG Electronics, said, "LG Electronics is accelerating its B2B (business-to-business) operations in the HVAC sector, with heat pumps at the core. Together with the consortium, we will lead the heat pump industry with decarbonization solutions."

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