Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

LS Industrial Systems Co. Ltd. : South Korea Set to Commercialize HVDC Technology

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/24/2013 | 10:07am CEST



South Korea Set to Commercialize HVDC Technology

? LSIS, KAPES and Alstom signed an agreement for technology license and support for HVDC projects
? The first HVDC commercialization project being commenced in domestic market
? Targets 6% of global market share, which is expected to reach KRW 80 trillion by 2020

LSIS is poised to secure the core HVDC (high voltage direct current) technology, the cream of power transmission technologies.

LSIS signed on May 22 in Samseong-dong, Seoul an agreement for the technology license and support for HVDC projects and was selected as a manufacturer with the joint venture KEPCO-ALSTOM Power Electronics Systems(KAPES) set up by Korea Electric Power Corporation(KEPCO) and French power generation, power transmission and rail infrastructure company Alstom.

KAPES was established at the end of 2012 to secure HVDC technology capabilities and it will license Alstom's technology to the domestic manufacturer and deliver HVDC projects under the technological support from Alstom.

In addition, Alstom accounts for 20% of the KRW 30 trillion global HVDC market. Nowadays, it is increasing its market share in Europe, India, North and South America and Asia.

The signing ceremony was held with more than thirty distinguished guests including the deputy minister of energy and resources under the Ministry of Trade, Industry and Energy, Kim Jun-dong, CEO and Vice Chairman of LSIS, Koo Ja-kyun, KEPCO's Executive Vice President and CTO, Kim Chong-young, Vice President Yang Moon-soo from Alstom Korea and other government and corporate officials. The agreement was signed by President of KAPES Park Jin-hong, Vice President Frédéric Salon from Alstom and LSIS's Executive Vice President Choi Min-goo.

Based on this agreement, KAPES will be responsible for the domestic HVDC project aimed at stabilizing power demand/supply. LSIS will work together with Alstom to manufacture and supply key devices necessary for this business and will benefit from technical support of Alstom with regard to manufacturing technologies.

LSIS and KAPES vow to pursue ambitious goals of securing technological capabilities, gradually making inroads into the Korean, Asian and global HVDC markets and recording 6% of the global market valued at approximately KRW 80 trillion by 2020.

According to Vice Chairman of LSIS, Koo Ja-kyun, this agreement has paved the way for mastering the technology and specifying the manufacturer's role in the future project. "We will be able to not only link it to our existing businesses such as renewable energy and Smart Grid but also help stabilize domestic power demand and supply by securing the HVDC manufacturing technology," he explained.

"In close cooperation with Alstom and LSIS, we will do our best to make the HVDC business as one of the growth engines of South Korea's next-generation green growth," President of KAPES, Park Jin-hong said.

In response, Alstom's Vice President, Frédéric Salon added that technology license is the fruit of the long and successful cooperation between the power industries of South Korea and France. "This agreement is the recognition of the excellence of Alstom's HVDC technology and will allow our company to increase its HVDC technical footprint in Asia. Benefiting from an industrialization partnership in Korea is a key asset for success," He said.

About HVDC
HVDC (high-voltage direct current), a desirable solution for connecting renewable energies, is a highly efficient alternative for  stablizing the existing power grid and transmitting large amounts of electricity over long distances for special purpose applications. HVDC uses DC(direct current) for the bulk transmission of electrical power, in contrast with the more common AC(alternating current) systems.

About Alstom
Alstom is one of the world's leaders in power generation, power transmission and rail infrastructure and sets the benchmark for innovative and environmentally friendly technologies. Alstom builds the fastest train and the highest capacity automated metro in the world, provides turnkey integrated power plant solutions and associated services for all thermal (coal, nuclear, gas...) and renewable (hydro, wind, solar...) energy sources. It offers a wide range of solutions for power transmission, with a focus on smart grids. The Group employs 93,000 people in around 100 countries. It had sales of over ?20 billion and booked close to ?24 billion in orders in 2012/13.

Alstom Grid has over 130 years of expertise in electrical grids. Whether for utilities or electro-intensive industries or facilitating the trading of energy, Alstom Grid brings power to its customers' projects.  Alstom Grid ranks among the top 3 in the electrical transmission sector with an annual sales turnover of more than ?4 billion. It has 19,000 employees and around 90 manufacturing and engineering sites worldwide. At the heart of the development of the Smart Grid, Alstom Grid offers products, services and integrated energy management solutions across the full energy value chain-from power generation, through transmission and distribution grids and to the large end user.

About LSIS
Since its inception in 1974, LSIS has grown into the country's largest industrial electrical and automation equipment maker. In 2003, to take a second leap forward, LS Group was spun off from the LG Group; thus, in 2005, LSIS declared its current CI.
LSIS has electric power and automation as its main business areas. Specifically, it produces all transmission and distribution equipment for transmitting electricity generated by power generation plants to homes and factories and focuses on technologies enhancing energy efficiency in controlling motors and designing and operating various electrical and signal systems.
And LSIS made huge R&D investments in green businesses based on its outstanding power and automation technologies. LSIS is pursuing the businesses of smart grids, solar energy, HVDC, and interior electronic parts for electric cars.
Last year, LSIS posted sales of KRW 2.2324 trillion and operating income of KRW 154.2 billion, marking the largest ever growth since the LS Group was launched.
distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
09:29p WHOLE FOODS MARKET : * baked crackers that come in wide variety of flavors
09:24p GENERAL GROWTH PROPERTIES : AT THE MALL Providence Place to replace JCPenney’s with parking
09:24p FORD MOTOR : Business Newsmakers
09:20p ALMARAI COMPANY : announces deposit amounts returned from the sale of fractional shares resulting from the capital increase in the eligible...
09:20p SAUDI PETROCHEMICHAL : Addendum announcement from (sipchem) regards the approval by the board of directors of a potential issue of sharia compliant sukuk >
09:20p MARRIOTT : Dur Hospitality Co. announces the signing of a franchise agreement with Marriott International to operate Yanbu Hotel >
09:20p BUPA ARABIA MIDDLE EAST : AAddendum announcement from Bupa Arabia for Cooperative Insurance Co. related to inviting Its Shareholders to attend the Ordinary General Assembly...
09:20p SAUDI AIRLINES CATERING : invites its shareholders to attend the Ordinary general assembly Meeting (Reminder announcement) >
09:20p AL HAMMADI DEVELOPMENT AND INVESTMENT : Company for Development and Investment announces obtaining a Extension of the Islamic Financing Facility Agreement >
09:20p METLIFE AIG ANB FOR COOPERATIVE INSURNCE : Cooperative Insurance Company announces SAMA's Final approval for its insurance products. >
Latest news
Advertisement
Hot News 
ANDALAS ENERGY AND POWER : Issue of Zero Coupon Loan Note
6D GLOBAL TECHNOLOGIES, INC : Change in Directors or Principal Officers, Financial Statements and Exhibits (form 8-K)
AVOLON : sustains strong performance as fleet increases to over 400 aircraft
PETRO MATAD : Expecting "Highly Material" Compensation From Partner
HML : Director Dealing April 2016
Most Read News
04/30 Inbox Blueprint 2.0 – Anik Singal Launches an Easy to Follow Online Marketing Program for Beginners in Email Marketing
04/30 LIPOSUCTION VS. TUMMY TUCK : Which Is Right for Me?
04/30 Derma Essence Facial Serum – Critical Information Released
12:27a FIRST : ® Hosts 20,000+ Students at World’s Largest Robotics Competition
04/30 ACF AUSTRALIAN CONSERVATION FOUNDATION : Coal or coral? Greens plan puts choice in focus
Most recommended articles
01:22pDJCSX Freight Train Derails in Washington, D.C. -- Update
12:21pDJNorth Sea Helicopter Operators Making Backup Plans After Norway Crash -- 2nd Update
12:03p ALLAN LEIGHTON : Retail heavyweights Mike Ashley, Allan Leighton eye BHS stores
10:42a Exclusive - Qatar fund uses more external managers, cuts focus on Europe
09:50a German industry expects output to grow despite weaker exports, BDI says