President Koo Ja-kyun of LSIS Co. (Photo: LSIS)

LSIS Co. posted the largest annual sales of 2.485 trillion won and operating profit amounting to 2.051 trillion won in 2018, up 6 percent and 29.4 percent YoY respectively, thanks to the thriving electric and automatic device sectors with boosts in the sales of power infrastructures and the smart energy sector ending in black , the company said recently.

The net profit came to 132.2 billion won, up 24.7 percent YoY with the Q4 sales coming to 630.4 billion won, up 4.3 percent YoY while operating profit at 31.7 billion won, up 35.3 percent YoY, although net profit at 14.4 billion won, down 7.9 percent YoY.

The company said the traditional cash cow, power and automatic device did well both at home and overseas with the power infrastructure sector not doing badly due to cuts in costs and selective on winning the only profitable projects. The power and automatic device sectors continue to be on the growth path thanks to investments in such key areas as chips, the IT sector centered on displays and water treatment helped by the success in the strategy to secure large business firms as customers, improving the sales and profits at the same time.

In the overseas sector, the company continued to do well with substantial growth in Vietnam’s power market while the inverter and PLC and other automatic devices also growing well in the U.S. and Europe adding to the company’s overall sales in the year.

The company also said the power infrastructure business captured large civilian projects leading to increased sales of HVDC(high voltage direct current) and gas insulated switchgear help improving the company’s profits.

The smart energy business also turned in profits as pushed by the company through the year. The energy storage system(ESS) business also performed well with a number of large consumers including Seah Group, Samyang Group and LS Nikko Copper Refining issuing a substantial number of orders for the ES system while the DC Relay business turned black due to the rapid growth of its markets both at home and abroad.

The company looks to keeping its operation profitable, too, this year, expecting to do well in the power, automation device and the smart energy businesses giving all it has to make those sectors generate profits as well as they did last year.

LSIS is a total solution provider of electric power systems/automations, smart grid solutions and photovoltaic systems. They offer the highest quality and eco-friendly green innovations to our world-wide customers.

With sales revenues approaching $3 billion USD, LSIS has long been the market leader in Korea. Their global reach continues to grow and expand as they have become a worldwide leader in the smart power transmission, smart power distribution, and smart industrial automation markets.

As a total-solutions provider in the power and automation industry, the LSIS R&D Group focuses on activating existing businesses, securing growth engines for green and next-generation businesses, and maximizing R&D performance and efficiency.

LSIS continuously works to secure core competencies to gain first-mover advantage in the power transmission, power distribution, and industrial automation markets while focusing R&D capacity to build a foundation for the next generation of the business. LSIS operates R&D centers in four South Korean locations and one location in Shanghai, China.

Their Power Testing & Technology Institute is engaged in improving technological competitiveness. This facility is an internationally-renowned testing center that has formed partnerships with the UL, CE, KEMA and CESI for carrying out joint assessments.

The LSIS headquarters, LS Tower, is in Seoul, South Korea. LSIS has manufacturing facilities, subsidiaries, and sales offices in many countries across Asia, the Americas, Europe, and the Middle East.

In 1994, the company went public with their stock and changed their name to LG Industrial Systems. After the merger, acquisition, and development of many different business units and companies, the company was renamed to LSIS Co., Ltd in 2015.