■ Stated at the annual general meeting of shareholders held on the 26th at LS Tower in Anyang ··· All agenda items passed as proposed
■ Power market entering an “ultra supercycle” as the center shifts from transmission to distribution ··· Confident in leading the market
■ Presenting tailored strategies for global markets including North America, Europe, and Asia, and moving into full-scale performance creation
■ Focusing on next-generation industries such as AI, DC, and ESS ··· Expecting to win the West Coast HVDC project
Koo Ja-kyun, Chairman of LS ELECTRIC, directly explained to shareholders his strong determination to change the game and seize leadership in the global power market’s “ultra supercycle” era. The strategy is to leap beyond mere earnings growth and become an “overwhelming player” that leads the market—raising both corporate value and shareholder value at the same time.
LS ELECTRIC announced that it held its annual general meeting of shareholders on the 26th at LS Tower in Anyang, and that all agenda items were passed as originally proposed.
That day, Chairman Koo met shareholders in person and said, “This is not simply a boom, but an inflection point where the structure of the power infrastructure industry itself is changing,” adding, “LS ELECTRIC has already secured world-class distribution technology and a strong business foundation, so we will seize leadership in the ultra supercycle era and use it as an opportunity to make a quantum jump to become the global No. 1 company.”
He continued, “We are evolving beyond being a company that merely supplies power equipment into a platform company that takes responsibility for overall power operations,” adding, “We will not only change the game, but also leap forward as a company that leads the industry.”
LS ELECTRIC achieved its best-ever results last year, recording KRW 4.9658 trillion in revenue and KRW 426.4 billion in operating profit. North American revenue surpassed KRW 1 trillion, and it secured an order backlog of more than KRW 5 trillion, raising expectations for long-term growth through sustainable profit generation.
The power market has already moved beyond the existing cycle centered on transmission and substation infrastructure, entering an “ultra supercycle” phase driven by expansion of the distribution market amid the growth of data centers and distributed power sources.
LS ELECTRIC, in particular, is rapidly expanding its dominance in global markets by leveraging its differentiated competitiveness in distribution.
Chairman Koo emphasized, “With the spread of AI data centers, industrial electrification, and distributed power sources, distribution is moving to the center of the power industry,” adding, “LS ELECTRIC will expand its domain beyond equipment into solutions and platforms and establish itself as a company that leads the market.”
He named the U.S. as a key strategic global market. LS ELECTRIC plans to strengthen its local production base by developing its Bastrop campus in Texas into an integrated hub for production, technology, and services, and by pushing ahead with capacity expansion of switchgear solution production facilities at MCM Engineering II in Utah.
In particular, the company’s strategy is to accelerate efforts to strengthen its dominance in the local data center market. Based on its experience working with global big-tech companies, LS ELECTRIC has already proven its technological capabilities and delivery competitiveness, and is expanding beyond supplying individual products into customer-tailored package businesses.
Chairman Koo stated, “In the data center market, technological capability, delivery, and on-site responsiveness are competitiveness,” adding, “We will secure a clear advantage by preemptively capturing the market centered on high-end customers such as big tech.”
To strengthen responsiveness in the North American market, LS ELECTRIC has finalized its mid- to long-term investment plan and is focusing on expanding production capacity and its supply chain. While significantly expanding local production scale, it plans to increase the share of local manufacturing for key power equipment and distribution solutions to minimize tariff and logistics risks and further enhance delivery competitiveness. It aims to further solidify market dominance by building an “end-to-end” system spanning from design to production, delivery, and operation.
LS ELECTRIC also presented tailored strategies for global markets: expanding business in Europe and the Middle East centered on extra-high-voltage and renewable-energy interconnection demand, and focusing in Asia on establishing global production and supply hubs beyond being merely a sales market—speeding up market expansion through a “global multi-axis strategy.”
As a key axis that will reshape the future power market, he pointed to the shift to direct current (DC).
Chairman Koo emphasized, “Future power competitiveness depends on how efficiently electricity is used,” adding, “DC can dramatically improve power loss and will be a game changer that reshapes the power market.”
The rising power demands of AI data centers and the expansion of renewable energy are rapidly accelerating the transition to a DC-based power structure, and discussions on standardizing DC distribution are also beginning in earnest across the industry.
LS ELECTRIC is also accelerating efforts to secure market leadership in HVDC (high-voltage direct current transmission). As Korea’s only current-source HVDC business operator, LS ELECTRIC has established itself as a key player in building the “West Coast Energy Expressway,” based on its accumulated technology and project execution experience.
Chairman Koo said, “Starting with the West Coast Energy Expressway, we will secure leadership in the global HVDC market as well,” adding, “We will also secure voltage-source HVDC technology and leap forward to become a leading operator in the market.”
An LS ELECTRIC official said, “As global investment in power infrastructure, centered on North America, is rapidly expanding, tangible order opportunities continue to increase across key businesses such as distribution, data centers, and HVDC,” adding, “We will strengthen local production, supply chains, and technological competitiveness at the same time to secure both growth and profitability.”