Chairman Koo Ja-kyun of LS ELECTRIC introduces smart factory technologies before member ambassadors of the Asian Community Seoul (ACS) invited to the company’s plant in Cheongju on May 25.

LS ELECTRIC is seeking to join RE100, a global corporate renewable energy initiative of making global companies committed to 100 percent renewable electricity.

If LS ELECTRIC makes it on the global corporate renewable energy initiative, it is first time a Korean company can do so.

The move may be construed as its attempt to transform itself as an eco-friendly company, but also to accelerate efforts to boost “smart factory” businesses using renewable energies.

LS ELECTRIC Chairman Koo Ja-kyun said his company was making preparations so that it can join RE100 next year.

Koo made the remarks while introducing his company’s smart factory technologies before member ambassadors of the Asian Community Seoul (ACS) invited to the company’s plant in Cheongju on May 25.

“Now that ESG management is getting important globally, it is inevitable for global companies, including those in the United States and Europe, to join RE100, he said.

In particular, Chairman Koo said, for companies, it will be more important for smart factory technologies using renewable energies such as photovoltaic power and hydrogen.

 LS ELECTRIC’s Cheongju plant is operated by photovoltaic power. A photovoltaic power facility installed on the rooftop of the plant generates about 2MW of electricity.

About 310 global companies have joined RE100. They include Apple, Google and Microsoft as well as 10 Korean companies, including SK Hynix and SK Telecom and six other SK Group subsidiaries, Amorepacific and LG Energy Solution.

The global non-profit organization Climate Group launched RE100 in 2014 with the target of using 100 percent renewable energies such as photovoltaic power and wind power by 2050. Climate Group aims to replace 60 percent of electricity with renewable energies by 2030 and raise the portion to 90 percent by 2040.

Magnetic contactors are loaded by an automated guide vehicle from LS ELECTRIC plant in Cheongju.(Photos: LS ELECTRIC)

RE100 targets companies whose annual power consumption stand at 100GWh or more per annum. If companies declare their participation in the intiative, they are required to submit applications to the RE100 Committee and action plans within one year.

LS ELECTRIC plans to concentrate its capabilities to upgrade smart factory technologies using renew able energies after the company joins RE100.

In particular, the company is focusing on the building of a Korean-type smart factory. Given the fact that the bulk of Korean companies are mid-size superstars and SMEs, LS ELECTRIC has production lines at Cheongju plant for producing smart factories for mid-size superstar companies and those at Cheonan plant for producing smart factories for SMEs.

LS ELECTRIC said the company expected ACS member ambassadors to make a pitch for its smart factory technologies. Chairman Koo escorted the invited guests in person at Cheongju plant, equipped with an automation system of assembling, testing and packing low-voltage electric instruments its mainstay products.

LS ELECTRIC is also focusing on the production of energy storage systems (ESS), a device of converting electrical energy from power systems into a form that can be stored for converting back to electricity energy when needed.

In June 2020, LS ELECTRIC built a photovoltaic power plant connected with ESS in Yeongnam, Jeollanam-do.