LS Chairman Koo Ja-eun Takes Steps to Secure New Businesses in 'Electric Vehicle and ESS Components'

[Asia Economy Reporter Jin-ho Kim] Koo Ja-eun, Chairman of LS Group, is actively focusing on the group’s future core new businesses.

According to LS Group on the 9th, Chairman Koo attended the ‘LS EV Korea Factory Completion Ceremony’ held at the LS Knowledge Industry Center in Dangjeong-dong, Gunpo City, as part of on-site management.

The event was attended by about 30 key stakeholders, including Koo Ja-eun, Chairman of LS Group, Koo Bon-gyu, CEO of LS Cable & System, LS executives and employees, as well as major customers and partners of LS EV Korea such as Kim Dong-su, Executive Director (Head of Purchasing Center) of LG Energy Solution, and contractors and construction companies.

In his congratulatory speech, Chairman Koo said, “The electric vehicle and ESS components produced at the Gunpo factory by EV Korea are not only electrical and power technologies in which LS has strengths but also one of the group’s new growth engines that will play a key role for humanity’s future of carbon neutrality.” He added, “LS EV Korea will demonstrate differentiated energy solution capabilities at a dedicated factory specialized for the business and will serve as a vanguard leading the era of electric vehicles in the future.”

The LS EV Korea Gunpo factory is a newly constructed building with a total floor area of 5,705 pyeong (approximately 18,860 m²) and a dedicated area of 3,060 pyeong (approximately 10,110 m²), built on about 3,800 pyeong (approximately 12,540 m²) of land owned by LS Cable & System’s central research institute. It has two basement floors and six above-ground floors. The facility is equipped on a large scale with electric vehicle parts manufacturing facilities including ▲testing rooms ▲inspection rooms ▲raw material warehouses ▲production lines.

LS EV Korea is a subsidiary of LS Cable & System specializing in electric vehicle parts. It produces components that supply power to electric vehicles or operate and control sensors. Its major customers include global automakers such as Volkswagen and Volvo, as well as LG Chem. It supplies parts such as harnesses (wiring that delivers electrical signals to each component in electric vehicles), battery packs, and components for energy storage systems (ESS).

Meanwhile, LS Group is expanding its business as a future growth engine across electric vehicle parts and charging businesses, including establishing a new corporation, LS E-Link, jointly invested with E1 last month to develop EV charging infrastructure construction and operation businesses.

LS anticipates that as the transition to electric vehicles accelerates and the power consumption per charging station increases, not only existing charging technologies but also power engineering capabilities for stable and efficient operation of power systems will become increasingly important.

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