Koo Ja-kyun "AI and Power Ultra Supercycle... LS Electric's Biggest Opportunity in 50 Years Since Founding"

New Leap Opportunity for Power and Automation Industry
Focus on Future Growth Engines: Power and AI Industries
Launch of Integrated Brand 'Beyond X'

Gu Ja-gyun, Chairman of LS Electric, stated, "With the replacement of aging power grids centered in the United States and the surge in electricity demand due to electric vehicles and artificial intelligence (AI) data centers, an ultra super cycle (period of unprecedented boom) has arrived. LS Electric is now facing the greatest and best opportunity in its 50-year history."

According to LS Electric on the 1st, Chairman Gu declared a new leap forward in the global power and automation industry during the 50th anniversary ceremony held at LS Tower in Anyang, Gyeonggi Province, attended by about 500 executives and employees. He said, "We will elevate the power and automation industry to become South Korea's representative 'future growth business' and grow as a global player."

Koo Ja-kyun, Chairman of LS Electric, is delivering the 50th anniversary commemorative speech at LS Tower in Anyang, Gyeonggi Province on the 30th of last month.
[Photo by LS Electric]

Chairman Gu said, "The global power and automation industry is currently at a major turning point due to the advancement of AI and digital technologies and changes in the global supply chain after the pandemic. The global market landscape, which has been dominated by some countries and companies mainly in the United States, Japan, and Europe, is now shaking, presenting a great opportunity for us."

He added, "We will aggressively expand the global electric alliance to jointly create the future of the power and automation industry and lead the 'energy transition and digital technology revolution' to solve global energy and climate issues." He emphasized, "All activities must be based on sustainability, diversity, and social responsibility to establish a just and challenging corporate culture and grow into a 'company loved and respected by all.'"

Chairman Gu also unveiled a new integrated brand for the leap to a 100-year company called 'Beyond X.' He explained the new brand as "a promise to leap beyond the expectations of customers received so far to become a global top-tier company," adding, "It embodies a pioneering spirit that seizes the global market with outstanding technology and customer-tailored solutions and responds and challenges faster than anyone else in a rapidly changing environment."

LS Electric integrated brand 'Beyond X' image [Photo by LS Electric]

LS Electric traces its origins back to 'Geumseong Gyejeon,' a specialized manufacturer of power and automation devices established in 1974. In 1987, Geumseong Sandeon was founded to expand overseas exports, and in 1995, Geumseong Gyejeon, Geumseong Sandeon, and Geumseong Gijeon merged to form 'LG Sandeon,' the largest power and automation company in Korea. After LS Group separated from LG Group in 2003, the company was renamed LS Sandeon in 2005 and then LS Electric in 2020.

LS Electric has grown into a global medium-voltage company operating 13 subsidiaries and 14 branches worldwide, recording sales of 4.2305 trillion KRW and employing about 3,500 people. It offers a diverse product lineup ranging from single devices to advanced systems in the power and automation industry and is expanding its business into next-generation energy fields such as energy storage systems (ESS), smart grids, solar power generation, and eco-friendly vehicle electronic components.

Since receiving the $500 million Export Tower award in 2013, LS Electric has additionally won the $700 million Export Tower award this year. As of the second quarter of this year, overseas sales account for more than 50%, strengthening its position in the global market.