[May 8, 2024] KD Navien signed an agreement with SK Magic on the 8th to acquire the business rights for gas and electric stoves and electric ovens. On the same day, both companies held separate board meetings to approve the terms of the agreement. The transaction is valued at 37 billion KRW.

As part of the deal, KD Navien will take on the role of general distributor for SK Magic's gas and electric stoves and ovens. Later this year, the production lines for these products will be relocated to KD Navien Pyeongtaek factory, with plans to rebrand as “Navien Magic” after obtaining the necessary permits early next year.

This deal will serve as a catalyst for KD Navien to expand its "air quality management" business further. KD Navien has been a pioneer in Asia since 1988 with its development of "condensing technology," contributing significantly to improving air quality. By cutting down nitrogen oxide emissions by 87%, carbon monoxide by 70%, and carbon dioxide by 19%, condensing boilers have played a vital role in improving urban and planetary air quality.

Building on its expertise in outdoor air quality, KD Navien is set to embark jump off a comprehensive initiative for managing indoor air quality. Since 2021, KD Navien has introduced products such as the "3D Air Hood," gas stoves, and premium electric cooker, All Metal Induction Cooktop, revolutionizing the indoor air quality market by integrating them with the "Ventilation Purifier Kitchen Plus." Furthermore, through its subsidiary KD Everon, the company expanded its range hood manufacturing capabilities by acquiring the assets of “Libechen.”

Building on its expertise in outdoor air quality, KD Navien is set to embark jump off a comprehensive initiative for managing indoor air quality. Since 2021, KD Navien has introduced products such as the "3D Air Hood," gas stoves, and premium electric cooker, All Metal Induction Cooktop, revolutionizing the indoor air quality market by integrating them with the "Ventilation Purifier Kitchen Plus." Furthermore, through its subsidiary KD Everon, the company expanded its range hood manufacturing capabilities by acquiring the assets of “Libechen.”

“Having led air quality management through condensing boilers, KD Navien is transforming into an ‘air quality solution provider’ with ventilation purifiers at its core. This acquisition will enhance synergies across our businesses and broaden consumer choices, establishing ventilation purifiers as the standard for air quality management,” said Kim Yong-bum, Chief Sales and Marketing Executive.