Korea’s HVAC companies facing big challenge
from Chinese market
Korea’s HVAC (Heating, Ventilation, and Air Conditioning) industry circle sets a further aggressive aim of advancing into new potential global markets including Southeast Asia through securing high-efficiency and ecofriendly technologies, based on continuous growth in both production and export. Now, Korea is ranked the world’s No. 4 in the industry.
Korea’s HVAC industry circle at an early stage grasped the potential importance of the HVAC industry as one of the indispensable industries in improving both the living environment and industry production process in a global scope.
Korea has early designated the industry as one of the major growth engines leading the national economy in the global markets while encouraging the companies associated to massively invest in this industry and thus to beef up the presence of those companies in an increasingly competitive global market.
Korean companies’ timely advance into promising markets is expected to spread technological recognition in the nation into the global market, thus contributing to the increase of their awareness in global markets.
One of the current hottest issues facing Korea’s HVAC industry is the massive influx of Chinese HVAC products into Korea. The influx of Chinese HVAC products would be accelerated when the recently signed Korea-China FTA officially comes into effect. Given the current situation when the influx of the nation’s HVAC products is visualized, the ratified FTA will help acceleration of the influx of Chinese products into Korean market.
Meanwhile, the recovery of the global economy and global high attention on the green industry will positively play for Korea’s HVAC companies, which have global competitiveness, especially against Chinese competitors in terms of technology power.