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LG Electronics said on the 19th that it will supply home-appliance subscription services to a roughly 7,000-unit reconstruction apartment complex in Apgujeong, Gangnam-gu, Seoul, in partnership with Hyundai Engineering & Construction.
LG Electronics (066570) will offer subscription products combining premium built-in (customized) appliances with professional care services for the new complex to be built. Appliances will be offered as five to seven choices, including refrigerators, washers, dryers, Styler units, and dishwashers, while penthouses will feature LG Electronics' ultra-premium brands "SKS" and "LG Signature."
Professional care is a service in which LG Electronics' specialized managers provide free support for five years after move-in, including disassembly cleaning and performance checks of appliances. Even after the free period ends, residents can separately subscribe to have their products maintained.
Through this supply deal, LG Electronics plans to expand its home-appliance subscription service into the business-to-business (B2B) market. As premium housing that enhances the value of living spaces has recently become a key competitive edge in the construction market, the B2B appliance market targeting builders is also growing.
On the 13th of this month, LG Electronics also joined hands with GS Engineering & Construction to jointly develop a next-generation artificial intelligence (AI) living system that integrates appliances, the Internet of Things (IoT), and robot services in residential complexes under the "Xi" apartment brand. LG Electronics is upgrading "ThinQ ON," an AI home hub that integrates and manages appliances and IoT devices, while also supplying its apartment-specific "Our Complex Connect" service, which links with ThinQ ON, to more than 300,000 households.
Park Jae-sung, head of LG Electronics' Korea B2B Group, said, "We will successfully establish subscription solutions optimized for apartment living environments to provide customers with convenient daily lives and secure a new growth engine in the B2B market."
