LS ELECTRIC Chairman Koo Ja-kyun, concurrently chairman of the Korea Electrical Manufacturers Association (KOEMA), said on Dec. 5, “A plan to build an energy expressway is advancing a power transmission and distribution network shift, and it will be a national core infrastructure responsible for power supply and the quality of high growth industries, such as renewable energy, EVs and data centers.”
Chmn. Koo made the remarks at a ceremony to celebrate the 2025 Electric Day anniversary at Eltower in Seocho-gu, Seoul.
“Our electric industry is now in a great paradigm shift, and it is fast changing into new technologies and new industries, such as AI, digitalization, expanding renewable energies, D/C transmission and distribution, power and ICT convergence on top of carbon neutrality, the task of the times,” Chmn. Koo said.
Chmn. Koo said, “These changes serve as a challenging but decisive opportunity to help the Korean electric industry make a leap forward on the global market, and a new export-oriented growth door is opening again.”
“Power infrastructure investments in North American and global areas have been expanding in the largest-ever scale, and a power demand surge, caused by the spread of AI on top of carbon neutrality and digital transformation, has been backing up structural growth of the global electric industry, and the upcoming 2026 will be a turning point to reestablish our export strategy paradigm,” Chmn. Koo said.
In a commemorative speech, 1st Vice Minister Moon Shin-hak of the Ministry of Trade, Industry and Resources (MOTIR), said, “The Korean electric industry has been suffering several hardships due to being pushed by China, but changes in the commerce, and trade environment and industry landscape have made a new milestone of the Korean electric industry, and power grids of advanced countries are decrepit, so change demand is predicted to shoot up.”
“In this vein, countries armed with related production facility and technology capabilities have been narrowed to the United States and China, and Korea has been recognized as the most promising alternative option, and not only our electric industry but the government, including the Ministry of Climate, Energy and Environment, will provide full support so people in the industry can achieve all things they wish,” Vice Minister Moon said.
The Electric Day anniversary event made its debut in 2021 with the goal of awarding electric industry people for their merit and spurring the development of the electric industry.
The latest anniversary event took on significance as the value of major exports of the Korean electric industry is predicted to jump to $16.5 billion (24.3 trillion won), the best-ever figure.
Meanwhile, 30 people were honored with government prizes, including the Industrial Service Merit, and the Presidential Award.
The Industrial Service Merit went to President Paik Seung-0nma of APEC.
Vice President Han Yeong-sung of Hyosung was honored with the Presidential Prize while Senior Executive Vice President Sung Byung-joon of Woojin M&E and Kim You-shim, a department head of Korea Midland Power, each received the Prime Minister’s Prize.
Senior Executive Vice President Koo Dong-hwi of LS MnM, who was promoted to LS MnM president. (Photo: LS Group)
Senior EVP Koo Dong-hwi of LS MnM, 3rd-Generation Offspring of Founder, Promoted to President
Senior Executive Vice President Koo Dong-hwi of LS MnM, the eldest son of Chmn. Koo Ja-yeol of the LS Board of Directors, was promoted to LS MnM president.
LS Group’s subsidiaries held their board of directors’ meetings on Nov. 25 and carried out reshuffles.
The business group said, “Organizational changes have been minimized by retaining CEOs of major subsidiaries, and stability and efficiency have been pursed.”
It said the business group has also been accelerating efforts to achieve its vision to preoccupy future opportunities and outcomes of new businesses.
Senior Executive Vice President Koo Dong-hwi of LS MnM was promoted to president.
New President Koo of LS MnM, who took office as CEO last year, has been evaluated to have restored fast the profitability of the refinery business he is in charge.
LS MnM is expected to lead the raw material ecosystem of EVs by nurturing core EV raw materials, including nickel sulfate and precursors.
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