LS Targets European Electric Vehicle Market... Chairman Gu Ja-eun's First Global On-site Management

Visit to Germany, Poland, and Serbia
Recent acquisition of German L&K and others inspected
"Responding to the European electric vehicle market"

Gu Ja-eun, Chairman of LS Group, conducted his first overseas on-site management activities since taking office to strengthen the group's position in the European electric vehicle (EV) business.

From the 2nd to the 10th of last month, Chairman Gu visited Germany, Poland, and Serbia. He inspected factories of subsidiaries such as LS Cable & System and Superior Essex that produce EV-related winding wires (copper wires), battery components, and communication cables.

Koo Ja-eun, Chairman of LS Group, visits the L&K factory in Germany and listens to Christopher Barkley, CEO, explaining the production process of oxygen-free copper, a core product.
[Photo by LS]

The International Energy Agency (IEA) projected that annual demand for electric vehicles in Europe will increase from 1.2 million units last year to 15 million units by 2030. To respond to the surge in European EV demand, SPSX acquired L&K, Germany's largest oxygen-free copper (OFC) producer, in January.

L&K can produce approximately 65,000 tons of oxygen-free copper annually, a key material for EV drive motor winding wires. It also manufactures special cables for aerospace, aviation, and medical industries.

LS has secured an EV value chain by supplying oxygen-free copper produced by L&K to SPSX factories in Germany and Serbia, manufacturing high-efficiency winding wires for EV drive motors, and providing them to local automakers.

During his visit to L&K, Chairman Gu stated, "We will further strengthen LS's presence in Europe," and added, "Let us reorganize the business focusing on high value-added products and improve production efficiency to respond to the European EV market."

Gu Ja-eun, Chairman of LS Group, visits the L&K factory in Germany and listens to an explanation about oxygen-free copper bonding from a sales staff member.
[Photo by LS]

Chairman Gu also toured LS Cable & System's Poland branch (LSEVP), which produces EV battery components and communication optical cables, as well as SPSX's winding wire production facility in Serbia. He encouraged expatriates and local employees.

He visited the LG Energy Solution factory in Wrocław, Poland, to observe the secondary battery manufacturing process and discuss business cooperation plans between the two companies.

LS Group plans to achieve Vision 2030 by strengthening its battery and EV businesses and growing into a group with assets worth 50 trillion KRW by 2030.

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