‘LS Calls for Focusing on Opportunities Rather Than Dangers in Crisis’

LS Group Chairman Koo Jae-eun listens to a presentation in the new business idea sector during “LS Future Day,” at LS Tower in Anyang, Gyeonggi-do, on Oct. 6.

LS Group held an event to pledge its future growth with Group Chairman Koo Ja-eun in attendance.

At the event, dubbed “LS Future Day,” at LS Tower in Anyang, Gyeonggi-do, Chairman Koo emphasized seizing future opportunities through innovation.

Among about 200 people on hand at the event were Chairman Koo, CEOs, CTOs and CDOs of the group’s subsidiaries.

The event served as an opportunity to share the group’s new business ideas and best R&D outcomes, and digital innovation good practices and present awards.

LS Future Day is an extension of the LS T-Fair, an R&D outcome sharing session being held since 2004, covering not only the conventional businesses, but also the future business sector, a move to accelerate Chairman Koo’s two-pronged management strategy he has pursued since he took office.

During the event, about 20 outstanding outcomes in areas, such as battery recycling, self-driving tractors, smart office, and office productivity innovation competed for awards under three categories: new business, technology and innovation.

Executives and staffers who have won outstanding practices will be given the chance to participate in CES 2024 along with Chairman Koo to experience the latest technology trends.

Chairman Koo said, “I ask for LS to be a leading company by focusing on future opportunity factors even in a crisis, as Tesla and Apple’s first-generation items came out in the financial crisis era like 2007 and 2008.”

LS Future Day coincided with a forum in which experts from political, diplomatic and economic sectors gave lectures.

The forum was an opportunity to take stock of the direction of LS Group’s Vision 2030 amid changes of international order, such as Russia-Ukraine war and U.S.-China trade conflicts.

Speakers of the forum were experts on China, the United States, Europe and the Middle East, including Prof. Lee Cheol, Prof. Kim Ji-yoon, Prof. Ahn Byeong-eok of Daegu University, and Prof. Kim Soo-wan of Hankuk University of Foreign Studies.

Officials with LS Cable & System examine an ultra high-voltage cable system. (Photos: LS Group)

LS C&S Lands Ultra-High-Voltage Cable Order to Retain No. 1 Market Share

LS Cable & System (LS C&S) said on Oct. 16 the company won a 113 billion ultra-high-voltage cable project order from Singapore Power Authority.

The latest order brings to about 350 billion won in cumulative orders LS C&S has landed from Singapore so far this year, retaining the No. 1 position in Asia’s biggest ultra-high voltage cable market.

Singapore has built power grid only with underground power cables sans the construction of power transmission towers.

European and other global cable makers have staged battles to win value-added underground cable orders in the Asian country market.

LS C&S has established itself as the No. 1 market share company in Singapore since 2010 when the company entered the market.

A LS C&S official said, “Projects that have been put on hold due to the COVID-19 pandemic for the past three years have been resumed, and LS C&S has managed to retain the No. 1 position thanks to efforts to satisfy customers’ needs, such as stable quality management in the ultra-high-voltage cable market in which durability, stability and reliability grow significant unlike general consumption items.”

The latest project calls involves a turn-key format, ranging from delivery of cables to construction and installation. LS C&S will supply 230kV or more cables, while 66kV or less cables will be delivered by LS C&S Asia.