With Chairman Koo Ja-eun of LS Group marking his fourth year since taking office, LS is expected to post good business performances, and the business group is analyzed to be cruising according to the “Vision 2030,” the group’s long-term goal.
LS Group aims to achieve 50 trillion won in assets by 2030, by carrying out massive investments in batteries and semiconductors, its future growth engines, on top of its mainstay businesses – cables and power equipment.
Accelerates Implementation of ‘Vison 2030’
In January 2023, Chairman Koo delivered his New Year’s message, in which he declared the “Vision 2030,” marking his second year in office.
The vision called for raising the group’s assets to 50 trillion won by 2030 by pouring more than 20 trillion won into carbon-free electricity, batteries, EVs and semiconductors. The business group’s total assets stood at 25 trillion won as of early 2023.
Given the business performances of the group’s major subsidiaries, under the stewardship of Chmn. Koo, the group is cruising according to the Vision 2030.
The financial information firm FnGuide said LS Corp., the holding company of the business group, is assumed to post 27,105.9 billion won in sales and 1,043.6 billion won in operating profit for 2024, representing 10.7 percent year-on-year growth and a 15.7 percent year-on-year jump, respectively.
LS Corp. does not specialize in any business. The company depends on income, such as dividends and brand usage fees from each subsidiary.
LS is estimated to see its sales and operating profit rise year-on-year thanks to good business performances of most of the group’s subsidiaries.
LS ELECTRIC, a power equipment maker, is estimated to chalk up 4,307 billion won in sales and 358.8 billion won in operating profit last year.
The figures represent a 1.8 percent year-on-year rise and a 10.4 percent year-on-year jump, respectively.
LS Group Chmn. Koo Ja-eun delivers a speech to the business’s 2025 freshmen employees at the LS Future Institute on Jan. 20. (Photos: LS Group)
Last year, the company’s winning orders in the North American market surged some 32 percent to 723.7 billion won. LS ELECTRIC, is seeing demand in the North American super voltage transformer market rise, and plans to raise the production capacity of its Busan plant by September.
BNK Securities said LS Cable & System is estimated to log 298 billion won in operating profit last year, a 28 percent year-on-year jump.
LS Eco Energy, a subsidiary of LS Cable & System, is expected to post 861.3 billion won in sales and 48.6 billion won in operating profit last year. The figures represent a 17.3 percent year-on-year surge and a 64.5 percent year-on-year jump.
LS Materials and LS Marine Solutions, also subsidiaries of LS Cable & System, are expected to see their sales rise in 2024 compared to the previous year.
LS MnM and LS E-Link, specializing in batteries, power and semiconductors, plan to expand outside growth with massive investments.
LS MnM plans to build an industry value chain for regrading nickel sulphate, precursor and cathode materials in cooperation with LS L&F.
LS E-Link, specializing in EV charging business, has entered the North American large-sized truck market.
The company plans to diversify its business portfolio of the future mobility charging sector to UAM, AGM and electricity-driven ships.
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