Nam Hyun-woo has worked as a staff writer at The Korea Times since 2013, mostly covering business and politics. He currently belongs to the Business Desk where he covers topics such as emerging tech, AI, ICT and Korea's chaebol community. Prior to joining the team, he was the paper's correspondent for the presidential office of Korea during the Yoon Suk Yeol and Moon Jae-in administrations.
LG to supply home appliances for US builder Century Communities
An artist's impression of LG Electronics appliances installed in a home / Courtesy of LG Electronics
By Nam Hyun-woo
LG fridges, washers, dryers to equip new US homes until 2029
LG Electronics will supply home appliances for tens of thousands of new homes constructed by U.S. builder Century Communities through 2029, the tech firm said Wednesday.
The two sides recently signed an exclusive deal under which LG will supply refrigerators, washers, dryers and other artificial intelligence (AI)-powered appliances for new homes built by Century Communities.
As part of the deal, LG Pro Builder, LG Electronics’ dedicated builder sales and service organization, will propose and supply customized home appliances tailored to customers’ lifestyles, housing structures, terrain and climate conditions.
Century Communities is one of the top 10 national builders in the U.S., building new homes and commercial buildings across 17 states. National builders refer to large companies with a presence across multiple states.
The deal marks LG Electronics’ second large-scale partnership with a national builder in the U.S., following last year’s supply agreement with Lennar, the country’s second-largest home builder. LG Electronics said the partnerships demonstrate that the company’s business-to-business (B2B) home appliance sales are helping rapidly expand its foothold in the U.S. market.
LG Electronics’ sales to builders in the first half of this year jumped more than 70 percent compared to the same period last year, reaching 2.5 times the figure for the first half of 2023. The company attributed the growth to its strong brand reputation, expanded product portfolio and enhanced sales efforts tailored to builders.
Along with its builder business, LG Electronics said its commercial washer business is also seeing improved results in the United States. Earlier this year, LG Electronics began supplying its products for CSC Serviceworks, the leading commercial laundry business in the U.S., following a separate deal last year with Wash, the second biggest player.
The company plans to accelerate growth by expanding its large-capacity commercial laundry lineup, LG Professional, to the North American and European markets this year.
“This contract is a meaningful achievement that once again proves the outstanding performance, quality and brand reputation of LG appliances,” LG Electronics North America CEO Jung Kyu-hwang said. “We will further solidify our presence in the U.S. B2B home appliance market.”