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LG Electronics to Move in Residential Building BMS Business

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Thursday, September 12th, 2013
SEOUL, KOREA- LG Electronics will move in to a business to build environmentally friendly residential complexes. On September 11, the company said that it signed an agreement with IK Industrial Development in constructing energy-saving "green" apartments.Under the terms of the pact, LG Electronics will, as the first step in the joint business, supply the "total energy solution" to 1,400 households in 14 apartment buildings in Goijung-dong, Busan, to be completed by 2016.
 
Total energy solution is a building management system that controls all energy sources coming in to the building, including system air-conditioning, solar power modules, LED lighting, and geothermal air-conditioning/heating systems. This is the first instance in Korea to introduce a total energy solution in residential building complexes.
 
LG Electronics had been actively pursuing BMS businesses in commercial properties such as Silla University, Masan University, and Value Hotel Worldwide. An LG Electronics official said, "The latest agreement with IK Industrial Development is an important milestone for our BMS business as this is the first case of residential building application."

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