LS Electric Participates in Vietnam-Korea Smart Power Energy Exhibition

Targeting Southeast Asia Power Infrastructure Business Based on Vietnam Low-Voltage Electrical Equipment 'Market Share No.1'

The photo shows an LS Electric official conducting the final inspection of a distribution panel produced at the Hanoi factory.

[Asia Economy Reporter Park Sun-mi] LS Electric is accelerating its strategy to target the rapidly growing Southeast Asian power market, centered on Vietnam, by leveraging next-generation smart power solutions.

LS Electric announced on the 19th that it will showcase its integrated smart power solutions covering both direct current (DC) and alternating current (AC) at the "2022 Korea-Vietnam Smart Power Energy Exhibition (KOSEF 2022)" held for three days until the 22nd at the Saigon Exhibition and Convention Center in Ho Chi Minh City, Vietnam.

At its exhibition space of 12 booths (108㎡), LS Electric will organize the content around three themes: ▲smart distribution ▲digital transformation ▲safety and diagnostic solutions, allowing local customers to directly experience its solutions. LS Electric plans to prominently feature smart distribution and unveil a large number of world-class DC and AC product solutions.

LS Electric established a production corporation in Hanoi in 1997 and is regarded as a first-generation Korean company to enter Vietnam. By anticipating the growth potential of the local manufacturing and real estate markets and making aggressive investments in localization such as research and development (R&D) and brand awareness from the outset, its market share, which was in the mid-30% range in 2013, has recently approached about 50%.

LS Electric plans not only to expand its business through orders for thermal and renewable power plant construction projects in Vietnam but also to actively target major Southeast Asian countries with high economic growth rates and rapidly growing power infrastructure markets?such as Indonesia, Laos, Myanmar, and Cambodia?by leveraging its brand awareness and technological capabilities accumulated locally.

An LS Electric official said, "Participating as the largest domestic company in this exhibition held for the first time in three years due to COVID-19, we will firmly establish our competitiveness in Vietnam, where competition among global manufacturers is fierce," adding, "We plan to accelerate our strategy to target the Southeast Asian power market beyond our dominant No. 1 market share in low-voltage power equipment in Vietnam."

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