[CAPTIONS] The family of Ahn Ik-jong (back row, far left), the first household in Jeju to install a heat pump boiler, poses for a photo in front of their home on the 31st of last month at the official plaque-unveiling ceremony for the first unit under the "2026 Jeju Heat Pump Distribution Project in Daily Life," hosted by LG Electronics, the Ministry of Climate, Environment and Energy, and Jeju Special Self-Governing Province. Photo courtesy of LG Electronics - Seoul Economic Daily Finance News from South Korea[CAPTIONS]
The family of Ahn Ik-jong (back row, far left), the first household in Jeju to install a heat pump boiler, poses for a photo in front of their home on the 31st of last month at the official plaque-unveiling ceremony for the first unit under the “2026 Jeju Heat Pump Distribution Project in Daily Life,” hosted by LG Electronics, the Ministry of Climate, Environment and Energy, and Jeju Special Self-Governing Province. Photo courtesy of LG Electronics

LG Electronics has begun distributing heat pump boilers, a new high-efficiency boiler product, in Jeju. As the government moves to introduce heat pump boilers domestically to significantly improve energy efficiency in pursuit of carbon neutrality, LG Electronics plans to lead the market by handling more than 40% of the initial volume to be supplied in Jeju.

LG Electronics (066570.KS) said on the 2nd that it held the official No. 1 nameplate ceremony for the heat pump distribution program at a detached house on Gureungdongsan-gil in Jeju on the 31st of last month, together with the Ministry of Climate, Energy and Environment, Jeju Special Self-Governing Province, and the Korea Environmental Industry and Technology Institute. This marks the first time that LG Electronics’ product, the “LG Therma V Heat Pump Boiler,” has been officially supplied to households since the government launched the heat pump distribution program in April.

The heat pump boiler is a product of a new type that gathers heat from air to generate high-temperature heat. It can produce 4.9 times more thermal energy than the electrical energy it consumes, drawing attention as a high-efficiency, eco-friendly boiler. Through this, it can reduce energy costs by approximately 40 to 60% compared with conventional fossil fuel-based boilers. It also reduces environmental burden by applying R32 refrigerant, which has a low global warming potential (GWP).

As the government has set a goal of distributing 3.5 million heat pump products domestically to cut greenhouse gases by 5.18 million tons by 2035, LG Electronics will be responsible for 450 households out of the 1,042-household volume to be supplied in Jeju in the first half of this year. That represents a share of 43%.

LG Electronics has long expanded its heat pump business in overseas markets. It has supplied heat pumps to more than 100,000 households in five Southern European countries including France and Spain, and has also signed a partnership with Octopus Energy, the largest power supplier in the United Kingdom, to supply heat pumps. LG Electronics has adopted an outdoor-unit integrated design that requires no separate refrigerant piping work, and it also supports remote control functions through the “LG ThinQ” application.

Lee Jae-sung, head of LG Electronics’ ES Business Division, said, “Based on our technological capabilities proven in global markets such as Europe and our experience with large-scale projects, we will lead the heat pump distribution program to accelerate the pace of decarbonization transition in Korea.”