Chairman Koo Ja-kyun Completes 'Response System' for Power Supercycle... LS ELECTRIC Triples Production Capacity at Busan Plant

Koo Ja-kyun, Chairman of LS ELECTRIC, has strengthened the company's response system for the global power supercycle by tripling the production capacity of power transformers at the Busan Plant. LS ELECTRIC plans to accelerate its strategy to capture a greater share of the global power transformer market.
On the 4th, LS ELECTRIC held a completion ceremony for the second power transformer production building at its Busan Plant in the Hwajeon Industrial Complex, Gangseo-gu, Busan. The expansion, which covers a total floor area of 18,059 square meters (5,463 pyeong), involved an investment of 100.8 billion KRW. The company has set a sales target of 1 trillion KRW for the Busan Plant next year.
The floor area of the second production building is 1.3 times larger than the first, and its production capacity is 2.3 times greater. With this expansion, LS ELECTRIC's annual power transformer production capacity at the Busan Plant has increased from 200 billion KRW to 600 billion KRW, a threefold jump. The company now has production capabilities across the entire lineup, from 154kV to 550kV power transformers. In May, Chairman Koo completed the LS Electric Bastrop Campus, a power and distribution system manufacturing facility in Texas, demonstrating aggressive investment both domestically and abroad.

The completion ceremony for the second Busan Plant building was attended by over 200 people, including Koo Ja-kyun, Chairman of LS ELECTRIC; Koo Ja-eun, Chairman of LS Group; Park Hyung-joon, Mayor of Busan Metropolitan City; Lee Ho-hyun, Second Vice Minister of the Ministry of Climate, Energy and Environment; Seo Cheol-su, Vice President of Korea Electric Power Corporation (KEPCO); Namkyun Kim, President of Korea Electrotechnology Research Institute (KERI); and Yang Jaesaeng, Chairman of the Busan Chamber of Commerce and Industry.
Chairman Koo Ja-kyun stated, "We have made aggressive investments to significantly expand our share in the global power transformer market." He added, "Since 2010, we have invested over 420 billion KRW to transform the Busan Plant into a complete facility, and we will foster it as a core production base for the global power transformer market." He continued, "With this completion, we now possess world-class production and testing facilities for power transformers, securing a differentiated competitive edge. The Busan Plant will become a driving force for both LS ELECTRIC and the advancement of Korea's power industry in the global market."
The LS ELECTRIC Busan Plant is the only domestic production base for high-voltage direct current (HVDC) converter transformers. Since the completion of the first production building in Busan in 2010 (investment of 210 billion KRW), the company has expanded its production competitiveness by investing a total of 420 billion KRW, including the dedicated HVDC plant in 2011 (110 billion KRW) and the latest expansion of the second production building (100.8 billion KRW). LS ELECTRIC plans to swiftly respond to government demand for HVDC transmission networks while accelerating its push into global markets such as North America.

The global power equipment market is entering a supercycle, driven by the expansion of artificial intelligence (AI) data centers, replacement of aging power grids, and increased investment in renewable energy facilities. The U.S. transformer market is expected to more than double, growing at an average annual rate of 7.7% from $12.2 billion (KRW 17.8 trillion) last year to $25.7 billion (KRW 37.5 trillion) by 2034. LS ELECTRIC has recently signed large-scale supply contracts with North American Big Tech and power utility companies, further expanding its presence as a comprehensive global power equipment provider.
ehcho@fnnews.com Eunhyo Cho Reporter