LG Electronics announces targets and strategies

The news came at its annual media event in Seoul, Korea, attended by Hwan-yong Nho, the CEO of LG AC, Kyung-joon Park, LGs Korea CEO and a number of company executives.

LG AC Company also announced core marketing strategies to achieve its goal.

To reach its goal of becoming and maintaining its global leadership in heating, ventilation, air conditioning and energy solutions, LG AC Company announced an organisational restructuring that would strengthen the companys focus in residential air conditioning, commercial air conditioning, home management systems, building management systems and solar cells.

The reorganisation includes business expansion into a lighting and energy solutions such as solar cells.

The move also enables LG AC Company to transition towards a more solutions-based B2B business.

LG AC Company will be enhancing its eco-friendly credentials by producing highly efficient products and phasing out more substances that do not meet its strict guidelines.

The organisation also aims to provide comprehensive solutions to create the optimal residential environment, reflecting its status as a total HVAC solutions company.

LG AC Company will offer Indoor Air Quality (IAQ) solutions to suit individual residential environments.

The LG AC Company plans to reduce greenhouse gas emissions by 28 million tons by providing a range of highly efficient inverters targeting Korea, North America and European regions by 2013.

The company plans to increase use of eco-friendly refrigerants (R-410A) from 10 percent to approximately 55 percent of its air conditioners by 2012.