Chairman Koo Ja-kyun of LS ELECTRIC.

LS ELECTRIC posted an operating profit for about 20 years in row on the back of a stable profit base in key industries like the power system and automation sectors.

Outcomes of a survey on the operational profit trends of 342 companies since 2000 showed that LS ELECTRIC ranked first among 26 companies in the IT, electric and electronic sectors when it chalked up an operating profit in the second quarter of this year.

It was the 79th consecutive quarterly operating profit since 2001. The findings of the survey were released by the company evaluation site CEO Score on Sept. 5.

LS ELECTRIC logged an average of 35,778 million won in quarterly profit during the period. The company posted a record 95,628 million won profit in the fourth quarter of 2001, and 10,590 million won, the lowest, in the first quarter of this year.

LS ELECTRIC has built a steady profit foundation in the power system and automation sectors, key national industries. The company has concentrated its investment on nurturing eco-friendly smart energy businesses such as photovoltaic power and fuel cells into future growth engines.

An LS ELECTRIC official said the good business performance was owed to the company’s building a stable profit foundation in the power system and automation businesses, more key national industries, and it will contributing to yielding a future profit in the smart energy sector.

Next came Samsung Electronics in terms of the longest consecutive operating profit.

Samsung posted an average of 4,699,795 million won in 2021 Q2 since 2009 when the company logged 147.6 billion won in operating profit.

A view of the ±300Mvar MMC STATCOM project for Godeok Substation in Pyeongtaek, Gyeonggi-do, completed by LS ELECTRIC last year. (Photos: LS ELECTRIC)

LS ELECTRIC’s Efforts to Invest in Eco-Friendly Power Solutions Pay Off

LS ELECTRIC’s efforts to foster the eco-friendly power solution business have yielded fruits in the Green New Deal business.

LS ELECTRIC successfully completed the ±300Mvar MMC STATCOM project for Godeok Substation in Pyeongtaek, Gyeonggi-do, last year. The company has landed two additional projects to build two ±500Mvar MMC STATCOM substations this year.

A rising supply of renewable energy power generation in the wake of the Green New Deal Initiative destabilized the stability of the power grid on top of the domestic situation in which the construction of new transmission lines is not easy.

LS ELECTRIC, predicting a need for expanding static compensator facilities to maximize the power translation capacity of the existing lines, has invested in the development of a modular multilevel converter (MMC)-based-static synchronous compensator (STATCOM) by utilizing the conventional high-voltage direct current transmission system (HVDC) technology.

LS ELECTRIC, securing a track record of operating STATCOM in Korea, is expanding its business by winning compact STATCOM orders through competition with global players.

The company’s project to verify a modular green substation (MGS) project it landed early this year has attracted the limelight from the market.

Modular green substations are modularized by substation components and installed in trailers or containers for easy transport to the site.

Modular Substations are cost efficient, reduces lead time, and reduces risk through the modular design.

Modular green substations are transported after they are assembled and test-operated at the plant, so it can minimize risks that could take place in all processes ranging from the launch of the substation project to dedication.

 
In particular, they can connect renewable energies to the power grid or supply power on a temporary basis, so they are less limited by space.

Demand for modular green substations are expected to rise as power sources at sea and mountain places are required to be connected with the power grid in conjunction with the reinvigorating of renewal energies such as wind power and photovoltaic power.