LS ELECTRIC to Establish VSC HVDC Joint Venture with GE Vernova

[Financial News] LS ELECTRIC is teaming up with global power infrastructure company GE Vernova to establish a joint venture for voltage-source converter (VSC) high-voltage direct current (HVDC) systems. The move is aimed at responding to major grid projects such as the government's West Coast Energy Expressway while also laying the groundwork for entry into the global HVDC market.
LS ELECTRIC announced on the 26th that it signed a strategic cooperation agreement with GE Vernova on the 25th local time at CIGRE 2026, the world's largest power grid technology exhibition, held in Paris, France, to establish a VSC HVDC joint venture. The signing ceremony was attended by Ja-Kyun Koo, chairman of LS ELECTRIC; Chae Dae-seok, CEO of LS ELECTRIC; Philip Piron, CEO of GE Vernova's Electrification segment; and Johan Vindel, CEO of GE Vernova's Grid Systems Integration business.
The two companies will jointly target the domestic VSC HVDC market through the joint venture. They plan to develop solutions and business strategies together for supplying core HVDC equipment and carrying out domestic projects jointly. In the long term, they also intend to build a cooperative framework for entering overseas HVDC markets. The joint venture has been named 'Grid X Technology,' reflecting the meanings of reliability, integration and exchange in power grids.
At the heart of the partnership is the combination of LS ELECTRIC's execution and manufacturing capabilities in domestic HVDC projects with GE Vernova's VSC HVDC technology. LS ELECTRIC is the only company in South Korea with experience supplying core equipment for commercial HVDC projects. After successfully completing the Bukdangjin-Godeok HVDC project, it is now also supplying key equipment for the East Coast-Seoul metropolitan area HVDC project. GE Vernova will bring to the joint venture its VSC HVDC design and engineering expertise, along with project experience accumulated in global markets. VSC HVDC is considered advantageous for linking renewable energy and transmitting large amounts of power over long distances because it allows more precise control of power flow than conventional current-source HVDC.
The two companies expect the partnership to create synergies, especially in the government's West Coast Energy Expressway project. The West Coast Energy Expressway is a national power grid project designed to transmit large-scale renewable energy generated in Honam and along the West Coast to the Seoul metropolitan area. VSC HVDC is being discussed as a key technology for handling fluctuations in renewable power output and improving the efficiency of long-distance transmission.
Through the joint venture, LS ELECTRIC aims to combine global technology with its domestic manufacturing base and strengthen its position as a key supplier for future HVDC projects in South Korea.
Ja-Kyun Koo, chairman of LS ELECTRIC, said, "By combining world-class VSC HVDC technology with LS ELECTRIC's experience in carrying out domestic HVDC projects, we will build Korea's energy expressway more reliably." He added, "We will continue strengthening our competitiveness so that Korea can lead the global HVDC technology and business sectors."
[email protected] Jung Won-il Reporter