Samsung and LG Strengthen HVAC Businesses as Heat Waves Boost Demand

Samsung and LG Strengthen HVAC Businesses as Heat Waves Boost Demand

SOUTH KOREA: Prolonged heat waves and tropical nights are driving stronger demand for air conditioners and seasonal appliances in South Korea, benefiting Samsung Electronics and LG Electronics. Both companies reported double-digit growth in air-conditioner sales, with demand extending into the third quarter. The trend is also highlighting HVAC, including heat pumps, as a strategic growth area. LG operates its HVAC operations through its Eco Solution division, while Samsung is streamlining its home appliance business and expanding into advanced heating technologies. Both companies are also exploring heat-pump opportunities, including government-supported projects on Jeju Island. Samsung has partnered with the US Department of Energy’s Oak Ridge National Laboratory to develop heating systems for extreme cold climates.

Source: Maeil Business