LTS

What LTS does

LTS Co., Ltd. (주식회사 LTS) is a privately held Korean specialty manufacturer founded in 1986 (originally as Samhoon Electronics) and headquartered in Seoul. The company produces Fin & Tube type heat exchangers for home and industrial air conditioning systems, automotive air-conditioning components (condensers, evaporators, and unit assemblies targeted at bus and vehicle applications), and air-conditioner pipe assemblies (copper, aluminum, and kit sets). Its core technology centers on a multi-stage precision manufacturing process including FIN Press forming, H/PIN processing and insertion, tube expansion (확관공정), automatic welding, leak testing, nitrogen replacement, and drying/air blowing, supported by an in-house corporate research institute established in 2000 and QS9000/ISO9002 automotive-grade quality certification acquired in November 2001.

LTS operates three manufacturing footprints: two domestic factories in Changnyeong and Pyeongtaek (Anjung), a wholly owned subsidiary plant in Riyadh, Saudi Arabia (LTS Saudi, established 2014), and a joint venture plant in Tianjin, China (Tianjin Xinshan Electronics, established 2017). The company generates revenue through B2B hardware sales to OEM customers, most prominently through a direct Fin & Tube heat exchanger supply relationship with LG Electronics dating to 2007. Ancillary subsidiaries include Dota-i (manufacturing and processing) and the Do Jin-hwa Scholarship Foundation. Pricing is not publicly disclosed, consistent with a contract-manufacturing sales motion targeting HVAC manufacturers, bus/automotive AC system integrators, and industrial refrigeration customers.

The company is founder-led: Chairman and Representative Director Park Se-hoon (박세훈) has led the business since inception across successive legal entity forms (Samhoon Electronics → Samhoon Industries → LTS Co., Ltd. in November 2001). LTS remains privately held with no parent company, no public listing, and only one disclosed small venture investment (Shinhan Venture Investment, 2004, undisclosed amount), reflecting a self-financed, family-controlled industrial operator with a 39-year operating history focused on a narrow product category.

Name

LTS

Legal name

주식회사 LTS

Website

https://lts21.com

Company type

Private

Founded year

1986

Operating status

Operating

Short description

LTS Co., Ltd. is a privately held Korean manufacturer, founded in 1986, specializing in Fin & Tube heat exchangers for residential and industrial HVAC, automotive AC components, and AC pipe assemblies, serving OEM customers including LG Electronics across production facilities in South Korea, Saudi Arabia, and China.

Ownership category

akta.pro rank

Product category

Heat Exchanger Manufacturing

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC)

akta.pro secondary industry

Chillers & Cooling Plant Equipment (IMAHAKAE)

Keywords

• Heat exchanger manufacturing
• Fin tube heat exchangers
• Automotive air conditioning
• HVAC components
• Industrial refrigeration equipment

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Heat Exchanger Sales: Manufacturing and selling Fin & Tube type heat exchangers for home and industrial air conditioning systems. Revenue from direct product sales to OEM customers and industrial clients.
2. Automotive Air Conditioning Components: Sales of automotive air conditioning components including condensers, evaporators, and unit assemblies for vehicles including buses.
3. Air Conditioner Pipe Products: Manufacturing and supplying various air conditioner pipes including copper pipe assemblies, aluminum pipe assemblies, and complete pipe kit sets.

Distribution channels1 record

Marketing channels2 records

Core offering

LTS is a Korean specialty manufacturer that produces Fin & Tube type heat exchangers used in package, system, and industrial-refrigeration air conditioning systems. The company also manufactures condensers, evaporators, and complete unit assemblies for vehicle (including bus) air conditioning systems, as well as copper and aluminum pipe assemblies and pipe kit sets for air conditioners. All products are produced at the company's own factories in South Korea and Saudi Arabia and supplied directly to OEM and industrial customers.

Product overview

LTS is a heat exchanger specialized manufacturer producing three core product lines: Fin & Tube type Heat Exchangers for air conditioning and industrial refrigeration systems, Condenser & Evaporator Assemblies for vehicle air conditioning, and Pipes for air conditioners. The products serve both residential/commercial air conditioning and automotive AC markets. The company operates manufacturing facilities in Korea (Changyeong and Pyeongtaek) and Saudi Arabia (Riyadh).

Differentiator

Problem solved

Functional benefit

Products and services

• Fin & Tube type Heat Exchangers Fin & Tube type heat exchangers for air conditioning and refrigeration systems, including package AC heat exchangers, system AC heat exchangers, and industrial refrigeration system heat exchangers. Supplied to HVAC OEMs as core thermal components.
• Condenser & Evaporator Assemblies for Vehicles Automotive air conditioning components including bus condenser assemblies, bus evaporator assemblies, and vehicle AC unit assemblies. Sold to automotive and bus air conditioning manufacturers.
• Pipe for Air Conditioner Air conditioner pipes including copper pipe assemblies, aluminum pipe assemblies, and AC pipe kit sets. Supplied to air conditioning manufacturers and integrators.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature12 records

Scale indicators2 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• T.RAD Co., Ltd. T.RAD is a Japanese specialist manufacturer of heat exchangers and radiators for automotive and industrial applications. It is closely comparable to LTS in its core Fin & Tube heat exchanger manufacturing focus and similar customer base of vehicle and HVAC OEMs.
• Hanon Systems: Hanon Systems (formerly Halla Visteon Climate Control) is a leading Korean automotive thermal management supplier producing radiators, condensers, and HVAC modules for global OEMs. It is a directly comparable Korean competitor in vehicle heat exchangers and condenser/evaporator assemblies, sharing the same OEM customers and customer types as LTS.
• Modine Manufacturing: Modine is a US-listed thermal management specialist that manufactures heat exchangers and cooling modules for HVAC, industrial refrigeration, and automotive applications — overlapping directly with LTS's Fin & Tube core product in both stationary and mobile AC. Both serve OEM customers with engineered, precision-manufactured heat transfer components.
• Dunan Environment: Dunan is one of China's largest manufacturers of refrigeration and HVAC components including heat exchangers, condensers, and evaporators. It directly competes with LTS in Fin & Tube heat exchangers for HVAC and refrigeration systems, with overlapping customer types and similar product categories.
• Sanden International: Sanden is a Japanese manufacturer focused on automotive air conditioning systems, compressors, and related heat exchangers. It directly parallels LTS's automotive AC condenser and evaporator business, serving similar OEM customers in Asia and globally.

Regional players

• Kyungwon Industrial: Kyungwon Industrial is a Korean heat exchanger manufacturer serving domestic HVAC and appliance OEMs. It is a regional peer in the Korean market for Fin & Tube heat exchangers, competing with LTS for similar South Korean customers such as local appliance and air conditioning manufacturers.

Broad incumbents

• Alfa Laval: Alfa Laval is a global industrial equipment manufacturer whose portfolio includes plate heat exchangers and thermal solutions used in HVAC and industrial applications. While its primary focus is industrial heat exchangers, it competes broadly with LTS in commercial and industrial cooling applications.
• Mahle Group: Mahle is a large German automotive and HVAC component supplier whose thermal management portfolio includes radiators, condensers, and heat exchangers. It is a broad incumbent in the same thermal management space where LTS operates its automotive AC components business, with comparable product categories at much larger scale.
• Valeo: Valeo is a global automotive supplier whose thermal systems business produces HVAC modules, condensers, and heat exchangers for OEMs worldwide. It is a broad incumbent competing with LTS in the vehicle AC condenser and evaporator segment as part of a much larger components portfolio.

Emerging players

• LU-VE Group: LU-VE is a European specialist in heat exchangers and refrigeration components for commercial and industrial cooling applications. It overlaps with LTS's industrial refrigeration system heat exchanger business as a focused competitor in non-automotive cooling markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LTS