LS Cable's submarine cables are being loaded at Donghae Port in Gangwon Province. [Photo by LS Cable]
[Asia Economy Reporter Kim Heung-soon] LS Group is accelerating its transformation into a digital and eco-friendly company by integrating artificial intelligence (AI), big data, and smart energy technologies into traditional manufacturing sectors.
LS Cable & System recently launched new products related to renewable energy such as wind and solar power and is strengthening its marketing efforts. Last year, it secured large-scale projects in the United States, the Netherlands, and Bahrain.
Additionally, it signed a long-term submarine cable supply contract with Ørsted, the world's number one offshore wind power company based in Denmark, securing priority supply rights for domestic and international projects over the next five years.
LS Cable & System also won all orders for ultra-high voltage submarine cables issued so far in the first phase of Taiwan's offshore wind farm construction project. The company is expanding its electric vehicle-related business, including aluminum wires for electric vehicles and wires for drive motors.
LS ELECTRIC is strengthening its next-generation power grid "microgrid" business, which enables small regions to be self-sufficient in electricity. It has already completed and started commercial operation of the largest domestic 94 MW-class solar power plant in Yeongam, Jeollanam-do, as well as overseas projects in Hokkaido and Hanamizuki, Japan.
To respond to the government's Green New Deal policy, LS ELECTRIC has signed memorandums of understanding (MOUs) with various companies such as Hyundai Motor Company, Doosan Fuel Cell, and Hanwha Power Systems to jointly develop related technologies.
LS Nikko Copper is focusing on improving production efficiency and stability by promoting a smart factory system (ODS) that connects the entire production process via communication at the Onsan smelter.
Eco-friendly liquefied petroleum gas (LPG) specialist E1 has completed an 8 MW-class solar power plant in Jeongseon, Gangwon Province, marking its full-scale entry into the renewable energy business. This year, it plans to expand solar power projects utilizing LPG storage bases and charging station sites and will also commence wind power projects in Yeongwol, Gangwon Province.
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