Koo Ja-Kyun, chairman of LS Electric, said on the 26th, "LS Electric has already secured world-class distribution technology and a business base, so we will seize leadership in the era of a super supercycle (boom) and use it as an opportunity to make a quantum jump to become the No. 1 corporations globally."
At the 52nd annual general meeting of shareholders held at LS Tower in Anyang, Gyeonggi Province, that day, Chair Koo said, "This is not a simple boom but an inflection point where the very structure of the power infrastructure industry is changing," and stated accordingly.
The power market has already moved beyond the existing transmission-and-substation-centered cycle and entered a super-boom phase with the expansion of data centers and distributed power. LS Electric posted record results last year with revenue of 4.9658 trillion won and operating profit of 426.4 billion won. North American revenue topped 1 trillion won, and the order backlog also exceeded 5 trillion won.
Chair Koo said, "With AI data centers, industrial electrification, and the spread of distributed power, distribution is moving to the center of the power industry," and emphasized, "LS Electric will expand its scope beyond equipment to solutions and platforms and establish itself as corporations leading the market."
Chair Koo pointed to the United States as a core global strategic market and plans to accelerate strengthening dominance in the local data center market.
LS Electric plans to develop the Texas "Bastrop Campus" into an integrated base for production, technology, and services, and to strengthen its local manufacturing base by pushing to expand production facilities for MCM Engineering II switchgear solutions in Utah.
Chair Koo said, "In the data center market, technological prowess, delivery lead time, and on-site responsiveness are competitiveness," adding, "We will preempt the market with a focus on high-end customers such as big tech to secure a clear advantage."
A customized global market strategy was also presented. The company plans to expand its business in Europe and the Middle East centered on demand for ultra-high voltage and renewable integration, and in Asia, to go beyond a simple sales market and focus on becoming a global production and supply hub, pursuing market expansion through a "global multi-axis strategy."
As a key pillar that will reshape the future power market, direct current (DC) conversion was cited. Chair Koo said, "The future competitiveness of power depends on how efficiently electricity is used," adding, "Direct current can dramatically improve power losses and will be a game changer that reshapes the power market."
Koo added, "Starting with the West Coast Energy Expressway, we will also secure leadership in the global high-voltage direct current (HVDC) market," and "We will leap forward as a market-leading operator by securing even voltage-source HVDC technology."
Meanwhile, at this shareholders meeting, all agenda items, including approval of the financial statements, approval of amendments to the articles of incorporation, approval of holding and disposing of treasury shares, appointment of directors, and approval of the limit on directors' remuneration, were passed as originally proposed.