LS Group Officially Enters Electric Vehicle Charging Business with Establishment of Corporation

Consolidating Electric Vehicle Charging Business Capabilities Within the Group
with LS E-Link as the Control Tower

Koo Ja-eun, Chairman of LS Group

[Asia Economy Reporter Park Sun-mi] LS Group has officially entered the electric vehicle (EV) business by establishing a new corporation for EV charging. LS Corporation, the holding company of LS, announced on the 28th that it will establish a new corporation, LS E-Link, jointly invested with E1, to develop the "EV charging infrastructure construction and operation business."

Chairman Koo stated at the time of his inauguration this year, "The massive trend of energy transition will ultimately accelerate the era of 'electrification' even further," adding, "Based on LS's advanced technology in the fields of electricity, power, and materials, where we have strengths, we will provide customers with unprecedented differentiated experiences and value, aiming to leap forward as a future comprehensive energy solution company."

LS E-Link is a company established as a subsidiary of LS Corporation, with LS and E1 each contributing 50%. LS plans to use LS E-Link as a control tower to consolidate the group's business capabilities in the EV charging sector and create synergy. LS anticipates that as the transition to electric vehicles accelerates and the power consumption per charging station increases, not only existing charging technology but also power engineering capabilities for stable and efficient operation of the power system will become increasingly important.

Accordingly, based on the know-how of Korea’s number one power solutions and gas charging station operations, LS plans to start full-scale sales from the second half of the year. In particular, LS expects synergy as it possesses Korea’s top technology in the electricity and power sectors through affiliates such as LS Cable & System and LS Electric.

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