South Korea’s global home appliance and technology company, LG Electronics, is accelerating its expansion in the Global South with a major HVAC supply deal for Peru’s new Jorge Chávez International Airport—one of Latin America’s largest infrastructure projects.
Several media outlets reported on August 4 that LG Electronics’ Peru subsidiary supplied more than 500 advanced HVAC units to the new airport, covering key areas such as passenger terminals, jet bridges, ramps, offices, and technical zones.
The contract includes a wide range of high-efficiency, high-performance systems such as the Multi V5, Multi V S wall-mounted and ceiling cassette models, four-way cassettes, packaged units, and fan coil units.
LG applied both direct expansion and chilled water systems, tailored to the airport’s operational needs and complex spatial layout—maximizing energy efficiency and space utilization.
Many of the premium units feature advanced technologies such as high-efficiency fans, eco-friendly refrigerants, and IoT-based smart control systems.
These features are seen as well-suited to Peru’s demanding performance requirements, especially in critical infrastructure settings like airports.
The deal comes amid rising demand for cooling systems in Peru, driven by climate change. The World Meteorological Organization reported that Peru’s average annual temperature in 2023 rose to 68.5°F—up 34.1°F from the previous year—marking the hottest year in six decades.
Some regions experienced extreme heat above 104°F, fueling surging demand for air conditioning in airports, hospitals, malls, and the food and pharmaceutical industries.
According to market research firm Statista, Peru’s air conditioning market is projected to reach approximately $109 million in 2024, with a compound annual growth rate (CAGR) of 5.64% through 2030.
Alongside increased usage, demand is also rising for parts and maintenance services. Energy-saving, eco-conscious, and IoT-enabled solutions are emerging as key purchasing criteria.
South Korean products continue to enjoy strong trust in the region. In 2023, Peru’s air conditioning parts import market reached around $28 million, up 18% from the previous year.
South Korea ranked second with a 14.6% market share. Experts suggest the real influence of Korean brands like LG and Samsung may be even higher due to indirect exports through third-country manufacturing hubs.
LG plans to leverage this win to strengthen its B2B presence in Peru and across Latin America. As advanced economies like the U.S. and Europe experience economic slowdowns, the Global South—including Latin America and Southeast Asia—offers higher growth potential for infrastructure-focused business segments.
