LS Electric is up more than 6% early on the 29th on news of an expansion at its Utah, U.S., plant.
At 9:18 a.m., in the Korea Exchange, LS Electric is trading at 216,000 won, up 13,000 won (6.4%) from the previous session's close.
LS Electric said on the 25th (local time) that it held a groundbreaking ceremony to expand production facilities at "LS Electric Utah" in Cedar City, Utah, U.S., investing a total of 250 billion won.
The project will add 66,115㎡ to the existing 13,223㎡ production facility, expanding the total to 79,338㎡—about six times larger.
LS Electric expects LS Electric Utah to serve as a North American strategic base that performs integrated functions, from design tailored to local customer demand to research and development (R&D).