LS Group Korea to tap emerging green markets in India and China

By Editor


LS Group Korea to tap emerging green markets in India and China

By Greentech Lead Team: LS Group, a Korean industrial
cables and electrical systems company, is expanding its green businesses, such
as smart grid, renewable energy, electric car parts and resource development
across the world.

In China, the company plans to focus on high-end power cables such as submarine
cables and high-voltage, direct current transmission systems, and smart grid
businesses. The company also seeks partnership opportunities with Chinese
companies to take part in electric car charging infrastructure projects as well
as development and supply of electric car parts, according to a report in Korea

“As our major business area is related to infrastructure,
we see plenty of business opportunities in China and other emerging economies
that are speeding up growth,” said John Koo, chairman, LS Group.

In India and Southeast Asia, LS is looking for business
opportunities in upgrading the power infrastructure by applying the smart grid
concept and enhancing energy efficiency. LS plans for business cooperation with
partners including Tata Group, one of the largest conglomerates in India that
has a similar management philosophy and business areas with LS.

The company plans to expand its business in South America
by investing about $1.8 billion in mines in Panama and Peru, and cooperation with
state-owned power companies and steelmakers in Chile and Brazil to help upgrade
energy efficiency.

With LS Cable & System and LS Industrial Systems as
its two main pillars, LS has grown into the nation’s 13th largest conglomerate
in terms of asset value in the nine years since it spun off from LG Group in

As part of its global expansion, in 2008, LS Cable
acquired Superior Essex, the largest cable company in the United States, and
started building a power cable production plant in Tarboro, North Carolina,
last year.

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