LS ELECTRIC Changes Company Name for the First Time in 15 Years from LS Sanjeon

[Asia Economy Reporter Ki-min Lee] LS Industrial Systems, a leading domestic company in industrial power and automation, is changing its name to 'LS ELECTRIC' for the first time in 15 years and accelerating its global business expansion.

On the 24th at 9 a.m., LS Industrial Systems finalized 'LS ELECTRIC' as its new name at the 46th regular shareholders' meeting held at LS Tower in Anyang, Gyeonggi Province.

This name change reflects the management goals of Chairman Koo Ja-kyun of LS Industrial Systems, focusing on 'strengthening global business' and 'customer-centric management.' Chairman Koo stated, "The proud name 'Sanjeon,' which has written the history of being the number one company in the industrial power and automation sector, has fulfilled its role," adding, "With the new name LS ELECTRIC, we must carry a heavy sense of responsibility and mission to write a new history." He further emphasized, "Recognizing that the key to opening an era of growth lies in overseas markets, let us leap forward as a global top-tier electrical equipment company through 'Evolution beyond Revolution' in both business and organizational aspects."

Founded in 1974 under the name Lucky Packaging, LS ELECTRIC changed its name to Geumseong Industrial Systems in March 1987, then to LG Industrial Systems in 1995, and after separating from the LG Group in 2003, it was renamed LS Industrial Systems in 2005. The name 'Sanjeon (industrial electricity)' was maintained for 33 years. However, considering that the name was limited to the industrial electricity and automation fields, the change was pursued to redefine the company's identity as a business engaged in converged and complex fields such as smart energy amid the era of the 4th Industrial Revolution, including digital transformation (DT) and artificial intelligence (AI), and the rapidly changing global market. Earlier, Chairman Koo had implemented a bold organizational restructuring, including establishing a global business division at the end of last year to expand global business.

LS ELECTRIC has undergone preliminary preparations for the name change since the end of last year, received approval at the regular shareholders' meeting on the 24th, and will formalize it after registering the name within this month. The official company name will be LS Electric Co., Ltd., and the trademark will apply a CI integrating both Korean and English, using 'LS ELECTRIC.'

The new name reflects the company's evolution from devices to solution platforms, including the convergence of manufacturing technology, information and communication technology (ICT), Internet of Things (IoT) technology, Industry 4.0 solutions, and smart transmission and distribution network technologies, leading not only the domestic but also the global market. An LS Industrial Systems official stated, "The name change to LS ELECTRIC is part of establishing a new identity as a smart energy company, beyond the image of a safe and efficient electrical energy solution company," adding, "We plan to secure a management focal point through a new vision declaration soon to ensure that the name change leads to a change in employees' mindset and to continuously promote change and innovation."

This content was produced with the assistance of AI translation services.