LS Group Invites GCC Ambassadors to Secure Future Food Sources in the Middle East

Gu Ja-eun, Chairman of LS Group, "The solid power business foundation built with GCC will also contribute to the development of future businesses"

Gu Ja-eun, Chairman of LS Group (center), and Gu Ja-gyun, Chairman of LS Electric (fifth from the left), are taking a commemorative photo with the ambassadors of the Gulf Cooperation Council (GCC) to South Korea who visited LS Yongsan Tower in Seoul on the 11th. / Provided by LS Group

[Asia Economy Reporter Kim Pyeonghwa] On the 11th, LS Group invited ambassadors from five Gulf Cooperation Council (GCC) countries stationed in Korea to LS Yongsan Tower to introduce LS’s power infrastructure and future business technologies and discuss cooperation plans.

The GCC is a regional organization formed in 1981 by six Arab oil-producing countries?United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait, and Bahrain?to strengthen cooperation in economic and security matters. Recently, it has been pursuing industrial diversification such as fostering manufacturing and expanding renewable energy beyond oil supply.

At the event, ambassadors from five countries except Bahrain, which does not have an embassy in Korea, attended: Abdullah Saif Al Nuaimi, Ambassador of the United Arab Emirates to Korea; Zakaria Hamed Hilal Al Saadi, Ambassador of Oman to Korea; and Sami Al-Sadhan, Ambassador of Saudi Arabia to Korea, among others.

From LS Group, Chairman Koo Ja-eun, LS Electric Chairman Koo Ja-gyun, LS Cable CEO Koo Bon-gyu, LS Electric Senior Advisor Choi Soon-hong, and Kim Jong-woo, Chief Operating Officer (COO) of LS Electric’s Global/Smart Energy (SE) Company-In-Company (CIC), were present.

This meeting was arranged to expand related businesses as large-scale projects from major oil-producing countries are expected due to recent high oil prices. At the event, LS Group introduced solutions necessary for the manufacturing advancement, power infrastructure construction, and renewable energy transition in GCC countries, including ▲smart factories ▲ultra-high voltage submarine cables ▲solar power generation.

In his welcoming speech, Chairman Koo said, “LS has successfully carried out major power infrastructure construction projects in GCC countries for a long time and is recognized as a trusted group by GCC country clients. We hope LS will be a partner in future projects promoted by GCC countries, such as smart city construction and diversification of energy sources centered on green energy.”

LS Group operates a total of four sales corporations and branches in GCC countries, centered on LS Cable, LS Electric, and E1. Among them, LS Cable holds the number one market share in the power cable market in the Middle East region, including GCC countries. Over the past four years, LS Cable has secured power grid construction projects worth 112.5 billion KRW in Kuwait and submarine cable construction projects worth 100 billion KRW in Bahrain. LS Electric is expected to record sales of approximately 42 billion KRW this year from power infrastructure construction projects within GCC countries.

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