Company Targeting USD10 Billion in Global Sales by 2014

Seoul, Oct. 15, 2010 -– LG Electronics (LG) today unveiled its new Multi V III commercial air conditioner in Europe, targeting large-scale facilities such as commercial buildings, office complexes and retailers. The third generation of the popular Multi V series, the new air conditioner will be LG’s flagship product in Europe, where demand for energy-saving technology is growing fast.

The launch of the Multi V III, the company’s most advanced commercial HVAC solution, is a central part of LG Air Conditioning Company’s plan to secure USD 10 billion in global sales by 2014. With its advanced efficient heating system, the Multi V III is expected to gain significant market share throughout Europe.

The Multi V III boasts three key consumer benefits; higher energy efficiency, larger capacity and longer piping design. The unit’s energy efficiency, boosted by LG’s unique V-Scroll inverter compressor and HiPORTM (High Pressure Oil Return) technology,  delivers a COP (coefficient of performance) level  of 4.6, one of the highest in the industry. LG’s new Multi V III can help building owners reduce their operational costs and be friendlier to the environment while still providing reliable heat in extremely cold regions.

Another advanced feature of the Multi V III is its continuous heating system, which maintains a pleasant indoor temperature without any heat loss from defrosting. In addition, with an increased piping length of 1,000m, 20HP capacity per unit (with a maximum of 80HP with four connected units) and smaller space requirement, the Multi V III is extremely easy and efficient to install and maintain.

“As a company with a strong focus on producing energy-efficient products, we feel that the Multi V III addresses all the major HVAC requirements of businesses in Europe,” said Hwan-yong Noh, CEO of LG Air Conditioning Company. “With this product, we are in a strong position to work with our European dealers and business partners to make LG the leading provider of smart and efficient HVAC solutions.”

The Multi V III will be available from October in markets including France, Germany, Italy, Spain and Portugal. Availability outside of Europe will be announced at a later date.

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About LG Electronics, Inc.
LG Electronics, Inc. (KSE: 066570.KS) is a global leader and technology innovator in consumer electronics, mobile communications and home appliances, employing more than 80,000 people working in over 115 operations around the world. With 2009 global sales of 55.5 trillion Korean Won (43.4 billion US Dollars), LG comprises of five business units – Home Entertainment, Mobile Communications, Home Appliance, Air Conditioning and Business Solutions. LG is one of the world’s leading producers of flat panel TVs, audio and video products, mobile handsets, air conditioners and washing machines. LG has signed a long-term agreement to become both a Global Partner of Formula 1™ and a Technology Partner of Formula 1™. As part of this top-level association, LG acquires exclusive designations and marketing rights as the official consumer electronics, mobile phone and data processor of this global sporting event. For more information, please visit www.lge.com.

About LG Electronics Air Conditioning Company
The LG Electronics Air Conditioning Company is a global total heating, ventilation and air conditioning (HVAC) and energy solution company providing Residential Air Conditioning (RAC), Commercial Air Conditioning (CAC), Solution, Solar Energy and Lighting around the world. LG AC offers a wide range of products from consumer and individual units to industrial and specialized B2B solutions. Through its innovative technology, heavy investments in R&D and superb marketing strategies, LG has broken its own sales records every year since 2000, thus cementing its place as the global leader of the HVAC industry.

Media Contacts
Nanako Kato
LG Electronics Corporate Communications
+822 3777 3918
lgpr@lge.com
www.lg.com/press