[Market Focus] LS Electric Surges Over 6% on News of 64 Billion Won Big Tech Order

LS Electric is showing strong performance in early trading on September 3. The surge in buying appears to be driven by news of a 64 billion won power supply contract for a big tech (large information technology company) AI data center.

As of 9:18 a.m. on this day, shares of LS Electric were trading at 291,500 won on the Korea Exchange, up 6.39% from the previous trading day. The stock opened at 282,500 won and has been gaining further momentum.

On this day, LS Electric announced that it recently signed a power distribution solution supply contract worth 46 million dollars (approximately 64.1 billion won) for a hyperscale AI data center power infrastructure project in the United States. This project is intended to supply power to AI data centers operated by global big tech companies, and LS Electric will be responsible for providing distribution solutions for gas power generation facilities within the microgrid. Unlike traditional power grids, a microgrid refers to a distributed power system equipped with small-scale local generation and distribution systems.

The project period is scheduled from February to July of next year, during which LS Electric will sequentially supply power distribution panel packages.