LG Electronics Dives into Heat Pump Boiler Market

LG Electronics has introduced a new high-efficiency boiler in South Korea that heats water by drawing heat from the air. LG Electronics launched its new integrated heat pump system boiler on the 7th, signaling the start of full-scale competition in the 'heat pump boiler' market, an arena Samsung Electronics has already entered.

LG Electronics' new product features an integrated design combining the outdoor unit and major system components. It offers high installation convenience by allowing the use of existing home hot water pipes without the need for separate refrigerant piping work.

LG Electronics' heat pump boiler can generate about 4 to 5 times more heat energy than the electricity it consumes. This translates to energy cost savings of 40% to 60% compared to traditional fossil fuel boilers. The new product maintains stable hot water supply performance even in low winter temperatures and supports remote control via the 'LG ThinQ' smartphone application. Its compact design ensures it does not detract from the surrounding landscape upon installation.

LG Electronics stated that while the initial installation cost is high, the long-term operational time leads to greater energy cost savings, making it economically superior over its entire lifecycle. When government subsidies are factored in, the initial investment cost can be recovered within approximately 5 to 6 years, depending on usage patterns.

The government is also actively supporting market expansion, aiming to significantly reduce greenhouse gas emissions by distributing 3.5 million heat pumps by 2035. This year, it has allocated 14.4 billion won to support up to 70% of the installation cost for households. The government has set a target to cut 5.18 million tons of greenhouse gas emissions by distributing 3.5 million heat pumps by 2035.

LG Electronics has been operating a system boiler business in South Korea since 2011, and since 2018, it has been the only domestic manufacturer supplying residential integrated heat pump system boilers. LG Electronics' heat pump systems have already achieved success in global markets, including Europe. The company recently completed the supply of high-efficiency heat pumps to a new housing complex in Eindhoven, Netherlands, and secured additional orders in Ridderkerk. In Southern Europe, LG has supplied heat pumps to over 100,000 households across five countries, including France and Spain.

Lee Jae-seong, president of LG Electronics' Energy Solution Business Company, stated that based on the technological expertise and business experience accumulated in global markets like Europe, LG will pioneer the domestic market to offer customers new, high-efficiency heating solutions that also consider the environment.

To reduce environmental impact, the product uses R32 refrigerant, which has a 68% lower Global Warming Potential (GWP) than the conventional R410A refrigerant.