Korea Business News Agency - NSP NEWS AGENCY.

The company is currently operating its subscription business in countries such as Malaysia, Thailand, and Taiwan. The appliance subscription service includes professional care with regular replacement of consumables, inspections, and free after-sales service.

In Malaysia, the number of monthly subscription accounts surpassed 10,000 for the first time in May this year. Initially, LG only offered water purifier subscriptions in the country, but since 2023, it has expanded to include large premium appliances such as air conditioners, refrigerators, and washing machines.

In Thailand, the service reached a cumulative total of 10,000 subscription accounts just nine months after launch. Taiwan is in the early stages of developing its subscription market, and LG is working to expand the business by leveraging its brand recognition and raising awareness of the service.

Last year, LG’s subscription business recorded nearly KRW 2 trillion in revenue, with an average annual sales growth rate exceeding 30% over the past five years.

An LG Electronics spokesperson stated, “We will continue to lead the global subscription market by understanding local customers’ lifestyles and needs, and growing our business based on region-specific products and strategies.”

By Geul-sam Kwon(gulsam2049@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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