Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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 CET



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
Latest news
Date Title
12:07a Optical Transport Network (OTN) Equipment Market 2017 - Huawei, Alcatel-Lucent, ZTE, Infinera, Ciena, FiberHome, Cisco Systems, Ericsson, NEC, Fujitsu, Tellabs
12:06a Theravance Bio reports 4Q loss
12:06a KRATON : reports 4Q loss
12:06a SUPER RETAIL : Gaining Momentum
12:06aDJBHP Billiton Sees Oil Market Rebalancing in 2017
12:06a Delek Logistics Partners, LP Reports Fourth Quarter and Full Year 2016 Results
12:06a Delek US Holdings Reports Fourth Quarter and Full Year 2016 Results
12:06a Rosen Law Firm Announces Investigation of Securities Claims Against AmTrust Financial Services, Inc. – AFSI
12:06a Advantex Announces Fiscal 2017 Second Quarter Results
12:06a Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against Psychemedics Corporation – PMD
Latest news
Advertisement
Hot News 
-7.69%NOXOPHARM (ASX : NOX) talks applications for its cancer drug candidate NOX66
-9.64%TRINITY MIRROR : to accelerate digital strategy after print decline
3.41%BUNZL : British distributor Bunzl eyes Trump boost in 2017
2.31%ESURE : UK insurer esure Group sees 2016 profit ahead of expectations
-7.16%DIRECT LINE INSURANCE : expects lower profit before tax due to discount rate change
Most Read News
06:03p TSX posts lowest close in 3 weeks as gold shares fall
06:00p SUNCOR ENERGY : announces redemption of notes
06:01p LIBERTY GLOBAL LILAC CLA 'C' : to Present at the Deutsche Bank 25th Annual Media & Telecom Conference
06:01p KRATON CORPORATION : Announces Global Tall Oil Fatty Acids Price Increase
06:00p TATA SONS, DOCOMO TO SETTLE $1.17 BILLION LEGAL DISPUTE : Nikkei
Most recommended articles
04:58a Amazon, Netflix grab a share of Oscar glory
02/23DJVIVENDI : Full-Year Earnings Beat Estimates
06:06pDJBHP Billiton Sees Oil Market Rebalancing in 2017
06:03p TSX posts lowest close in 3 weeks as gold shares fall
06:00p TATA SONS, DOCOMO TO SETTLE $1.17 BILLION LEGAL DISPUTE : Nikkei