LG Electronics establishes air conditioning research lab in Germany, targeting growing European market - Korean media

LG Electronics announced that it has established an Air Solutions Research Center in Frankfurt, Germany, to research high-efficiency air conditioning solutions optimized for the European climate.
The research center is located in Changwon, Seoul, and is the third in the world after Atlanta, USA. The research center covers an area of 1,000 square meters. It will develop a wide range of heating, ventilation, and air conditioning (HVAC) equipment for residential, commercial, and industrial use.
The aim is to ensure differentiated quality by installing and testing new products in accordance with European standards. The European Air Solutions Laboratory was established in June with the participation of universities from Norway and Italy.
The company will also be responsible for the operation of the European Consortium for Advanced Heat Pumps (ECAHR), which was launched in 2016. The company will also develop the institute into a fast-growing organization that employs and develops talented individuals in the fields of heat pumps and smart homes.
The plan is to use the area as a base for the European HVAC market, which is expected to grow by 2024. The HVAC market in Europe continues to grow due to carbon neutrality.
The company expects the market size to reach approximately 13 billion dollars (USD, approx. 2 trillion yen), and to grow by 5% each year for the next three years.
The company develops and manufactures its own compressors and motors, and continues to invest in research and development (R&D) to develop technologies related to heat exchangers, inverters, and heat pumps.