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The LS Group will expand globally in the field of power infrastructure, smart energy, and digital transformation, starting in areas of high growth potential, such as China and Southeast Asian nations.
It could be recalled that in his New Year's address, Chairman Koo Ja-yeol urged the company to increase operational efficiency and thoroughly localize the organization and its global workforce.
Other than establishing a group-level regional strategy centered on high growth areas, LS also plans to strengthen support to create synergy among its regional affiliates.
The company's major affiliates are also intensely commercializing eco-friendly, energy-efficient technologies such as microgrids and direct high-voltage current and superconducting cables.
LS Cable & System is investing in the US, Vietnam, Myanmar, and Poland, in the production of ultrahigh-pressure, submarine, and superconducting cables.
It has started to mass-produce telecommunications cables and electric vehicle battery parts in its Polish plant while expanding its investment in cable materials, bus ducts, and medium-voltage cables in Vietnam.
LS Electric is reinforcing its next-generation microgrid business that applies information and communication technology. It has likewise launched a global business division to solidify its presence in Southeast Asia, North America, and Europe.
Meanwhile, LS-Nikko Copper, which has an annual production of 642,000 tons of electrolytic copper with a purity of 99.99 percent, is seeking to enhance its copper smelting efficiency with the use of big data technology.
