LS ELECTRIC to Transition into Platform Company Amid Hyper Super-Cycle in Power Market
LS ELECTRIC's Chairman Koo Ja-kyun announced at the shareholder meeting a strategic shift to transform the company into a platform organization, aiming to lead the global power market. The company reported record sales of 4.9658 trillion won and significant growth expectations due to expanded operations in North America and investments in production facilities. LS ELECTRIC plans to enhance its market presence in Europe and Asia, focusing on high-voltage direct current technologies and solutions to adapt to industry shifts towards DC power architectures.
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LS ELECTRIC aims to evolve into a platform company to lead the global power market, as announced by Chairman Koo Ja-kyun during the shareholder meeting on March 26. The company reported record sales of 4.9658 trillion won and an order backlog exceeding 5 trillion won.
LS ELECTRIC plans to strengthen its North American operations, particularly in Texas and Utah, and expand in Europe and Asia. The company is focusing on high-voltage direct current (HVDC) technologies and solutions, responding to the rise of AI data centers and renewable energy demands. The strategic shift is seen as a response to the industry entering a hyper super-cycle phase.
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