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Photo courtesy of LS ELECTRIC |
[Alpha Biz= Kim Jisun] LS Electric has announced that it signed a power solution supply contract worth 1.625 trillion KRW for a U.S. Big Tech data center project through its U.S. subsidiary, LS Electric America, on the 18th.
Under this contract, LS Electric will supply power and distribution systems to LS Electric America, which won the bid for the power supply system from the U.S. Big Tech company. Last year, LS Electric secured a contract worth approximately 900 billion KRW for a similar project.
Gu Ja-gyun, Chairman of LS Electric, mentioned at the "InterBattery 2025" event held in Seoul’s COEX last month, "LS Electric's recognition in terms of QCD (Quality, Cost, Delivery) has been rising, and more companies, including U.S. Big Tech firms, are reaching out to us. The U.S. holds 25% of the global power market, and we are targeting this market, expecting a significant deal this year."
This contract is the first to be secured following Chairman Gu's comments.
Thanks to the successful bids in distribution and ultra-high voltage projects, mainly in North America, LS Electric achieved sales of 4.5518 trillion KRW and operating profits of 389.7 billion KRW last year. These figures represent increases of 7.6% and 19.96%, respectively, compared to the previous year.
LS Electric plans to expand its global business by targeting the high-growth U.S. distribution market.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
