LS ELECTRIC received the $900 Million export tower award at a ceremony to celebrate the 61st anniversary of Trade Day at COEX in Gangnam-gu, Seoul, on Dec. 5.
LS Metal, a subsidiary of LS ELECTRIC, was presented with the $100 million export tower prize.
LS ELECTRIC logged $976.8 million in overseas sales during the period between the second half of last year and the first half of this year, an over 18 percent surge year-on-year compared to a year earlier.
The portion of the overseas sales of the company’s total sales rose from 46.5 percent to 50.3 percent during the same period.
LS Metal, specializing in mainstay businesses, such as copper pipe and stainless pipes, saw oversees sales surge to $103 on the back of efforts to expand the scope of overseas business.
Starting with the $200 million export tower prize the company won in 2005, LS ELECTRIC was honored with the $300 million export tower prize in 2007 and the $500 million export tower prize in 2013.
The company received the $900 Million export tower award, the fifth export tower prize, since last year when the company took home the $700 million export tower prize.
LS ELECTRIC said the export growth was owed to the company’s continued winning orders from the North American power infrastructure market and the expanding of ESS and renewable energy markets.
KOC Electric Secures Additional Super-High Voltage Transformer Production Capacity
KOC Electric, acquired by LS ELECTRIC, took the first step to jointly expand into the global market by raising its super-high voltage transformer production capacity three times.
KOC Electric, which is now a subsidiary of LS ELECTRIC, completed a project to expand the production capacity of a super-high voltage transfer plant at its plant in Ulsan recently.
The company held a ceremony to celebrate an initial production of 154kV transformers at the Ulsan plant with LS ELECTRIC Chairman Koo Ja-kyun and KOC Electric President Kim Ho-ryang in attendance.
KOC Electric dedicated an additional production facility in the 4,621 sq. meter area, capable of testing and producing 200MW 345kV transformers by pouring a combined 29.6 billion won.
The additional production facility has allowed to expand the scope of production items from the conventional production of 154kV-class transformers to 230kV ones, and raise the value of production from 30 billion per annum three times to 100 billion won.
KOC Electric, established in 1979, has grown into an integrated transformer maker capable of producing items, ranging from super-high transformers to mold, dry and oil immersed distribution transformers.
KOC Electric is the sole SME with 154kV technology and equipment.
It is one of the nation’s top five companies to supply super-high voltage transformers to KEPCO.
KOC Electric is the nation’s sole company specializing in ship transformers, which delivers them to the nation’s big three and overseas shipbuilders.
KOC Electric has business portfolio of offshore, on-land and super-high voltage sectors, and the company posted 95.3 billion won in sales last year.
The company is expanding the capacity of super-high voltage transformers to correspond to rising energy infrastructure demand in North America, Europe and the Middle East.
The company aims to raise the portion of its overseas business from the current 10 percent to 40 percent by 2026.
LS ELECTRIC Chairman Koo Ja-kyun said, “KOC Electric, the nation’s representative middle market company, has successfully completed expansion and the company will be able to have synergetic effects by jointly complying with the demand of the Korean and foreign super-high voltage market, and as it is an investment to secure sustainable market supremacy, not expecting a short-term boom, it means a first step to make an inroad into the global market.”
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