Chairman Christopher Koo of LS Group visited the Wuxi Industrial Complex in Wuxi, Jiangsu Province, China, along with outside directors of the group’s affiliates in May 2015. LS Cable, LSIS and LS Emtron have plants in Wuxi.
In 2005, the group dedicated the complex on a 100,000-pyeong site as a foothold to explore overseas markets. Chairman Koo has been striving to find new business opportunities in such manufacturing innovation sectors as smart factories there, while exploring how to cope with changes of Chinese economic policies.
Koo also toured LS Cable’s super conductor center and LSIS HVDC Smart Center on Jeju Island to get caught up on the progress of the development of new technologies and encourage those engaged in next-generation technology development projects.
The group has been engaged in the development of technologies for energy efficiency, with the supply of power becoming a key issue associated with the rapid industrialization and urbanization in Korea and China, creating high demand for energy, as well as energy efficiency. The group has also been engaged in the localization of the key technologies, including super- conductors, smart grids and high voltage direct currents, among others, in new industrial areas where global players have been dominating.
LS Cable & System (LS C&S) kicked off its super conductor development project in 2001 and succeeded in developing a super conductor cable for the 4th time in the world, which was followed by the development of the direct 80 kw class super conductor cable for the first time in the world. It was also the first time ever that the same company secured both DC and AC technologies. LS C&S plans to tap the eco-friendly automotive parts sector, as the company signed a deal to supply wiring harnesses for EVs to BAIC of China in early February.
LSIS is firing on all cylinders to localize high voltage direct current (HVDC) technologies. The company was selected as the preferred bidder of a project of KEPCO Alstom Power Electronics Systems (KAPES) to transfer HVDC technologies. KAPES is a joint venture between Alstom Grid and Korea Electric Power Corporation (KEPCO) to deliver HVDC projects in Korea. LSIS has reaped tangible achievements as the company won a 67.1 billion won power transmission project connecting Bukdangjin and Godeok last year. LSIS is spearheading the Korean smart grid project business, which is designed to optimize energy efficiency by exchanging real-time information interactively through the combining of the conventional unilateral power network and IT technology. To this end, the company has secured such total solutions as photovoltaic power and electric energy storage (ESS).
LS-Nikko Copper launched a project to build a precious metals extraction factory, a joint-venture with the world's largest copper manufacturer CODELCO in Chile. The factory will be operational in late 2016. When CODELCO supplies slime (deposit containing precious metals produced in the refining process of metals) produced from their refineries, precious metals such as gold, silver and copper included in slime are extracted through the refining process.
The precious metals factory, with the total gross area of 100,000 square meters at the Mejillones area of Chile, will be capable of producing 5 tons of gold, 540 tons of silver and 200 tons of selenium annually starting this year, which will enhance LS-Nikko Copper’s international standing and business competitiveness.
LS Emtron, an industrial machinery and advanced parts maker, has developed tractors fitted with eco-friendly engines surpassing stringent environmental regulations in Europe and the United States.
“LS has created new industrial paradigms in such energy efficiency sectors as superconductor cables, HVDC and smart grid and nurtured world-class manpower in the related industries. The group will aggressively enter the global eco-friendly, advanced industries, thus contributing to the development of the national economy,” a group official said. LS Group Chairman Koo said, “We plan to create greater value through shared growth among customers, society and executives and staff members, and cooperative companies based on the LS Partnership, the group’s management tenet. We will do our best to make the LS brand the most trusted and reliable company.”
After graduating from Korea University with a B.A. in business administration, Koo joined Lucky-Goldstar International (now LG International) as an entry-level employee in 1978 and worked in various subsidiaries including LG Securities (now called Woori Investment and Securities) and LG Cable and System, which later changed name to LS Cable and System.
He has been chairman and CEO of LS Cable and System since 2008 after serving as its vice chairman for three years.
Koo is the eldest son of Koo Pyong-hwoi, the late honorary chairman of LPG supplier E1 Corporation, who passed away in October.
