Gu Ja-gyun, Chairman of LS Electric, "Focusing on Global Data Center Business"

Presentation of Five Core Businesses to Secure Future Competitiveness

Joo Ja-kyun, CEO and Chairman of LS Electric, stated, "We will continue the era of full-scale growth centered on the five core businesses," and announced that the company will sustain its growth momentum by leveraging the booming power grid business as a stepping stone.

At the '51st Annual General Meeting of Shareholders' held on the 25th at LS Tower in Anyang, Gyeonggi Province, Chairman Joo said, "Although we are renewing record-high performance every year due to the expansion of global power infrastructure demand centered on North America, relying solely on the boom can turn the best results into the worst when a recession comes." He identified the five core businesses to secure future competitiveness as ▲focusing on the global data center business ▲expanding the North American distribution system network ▲strengthening the ultra-high voltage transformer business ▲activating the energy storage system (ESS) business ▲enhancing global distribution business capabilities.

Koo Ja-kyun, CEO and Chairman of LS Electric, is presiding over the '51st Annual General Meeting of Shareholders' held on the 25th at LS Tower in Anyang, Gyeonggi Province. Photo by LS Electric

Chairman Joo emphasized, "We will secure strong competitiveness to create a definite era of growth," and presented tasks such as ▲securing future growth businesses ▲strengthening global business ▲enhancing business synergy through active communication among organizations.

LS Electric recorded its highest-ever performance last year with consolidated sales of KRW 4.5518 trillion and operating profit of KRW 389.7 billion, driven by the expansion of global power market demand centered on North America.

Meanwhile, at the shareholders' meeting, all agenda items were approved as originally proposed, including the appointment of Chae Dae-seok, Executive Vice President of LS Electric's ESG (Sustainable Management) and Vision Management, as an inside director, and the appointment of Song Won-ja, an outside director, as an audit committee member.