[ESG Management Era] LS Group Anticipated to Transform into a Digital and Eco-friendly Company... Creating a Virtuous Cycle for Sustainable Growth

A view of the Yeongam Solar Power Plant, the largest in Korea with a capacity of 94MW, built by LS Electric in July last year (Photo by LS Group)

[Asia Economy Reporter Jeong Hyunjin] LS Group plans to further accelerate ESG (Environmental, Social, and Governance) management as a core of manufacturing and a sustainable strategy.

LS has established and operates an internal transaction committee centered on major listed companies, and from this year's shareholders' meetings, it has fully introduced electronic voting systems at LS Corporation, LS Electric, E1, and others to protect shareholders' rights. It continuously shares ESG practice cases through major disclosures such as business reports.

LS is also aiming to transform into a digital and eco-friendly company by integrating artificial intelligence (AI), big data, and smart energy technologies through digital transformation. At the beginning of this year, LS Group Chairman Koo Ja-yeol said in his New Year's address, "We will create a virtuous cycle structure where new business achievements contribute to the public interest early and where companies and society grow sustainably together."

By affiliate, LS Cable & System recently launched new products related to renewable energy such as wind and solar power. LS Electric is accelerating its next-generation power grid microgrid business that enables small-scale regions to be self-sufficient in power by leveraging ICT-applied convergence smart solutions based on its technology in power and automation fields. LS Nikko Copper is promoting ODS, a smart factory system where the entire production process at the Onsan smelter is connected via communication and the process is automated. Energy company E1 established a ‘Renewable Private Power Generation Business Team’ last year and is actively entering the renewable energy business sector as a power generator, completing an 8MW-class solar power plant in Jeongseon, Gangwon Province this month.

An LS Group official said, "We will strengthen our eco-friendly business capabilities to create a sustainable society through digital transformation of our core businesses and the accumulated technological capabilities in the green energy field."