LS Group to invest $15.74 billion by 2030 to focus on power, engery sectors

LS Group Chairman Koo Ja-eun on Monday [Source : LS Group]

LS Group plans to foster new business engines in the carbon-free electricity (CFE) sector by investing more than 20 trillion won ($15.74 billion) by 2030 with the aim of doubling its current asset size to 50 trillion won by 2030.

LS Group Chairman Koo Ja-eun unveiled this vision in a New Year’s message on Monday.

“The global common tasks for the next 30 years can be summarized in one word, net zero, and the core of net zero is CFE,” Koo said, emphasizing “the great transition to the CFE era is an unprecedented opportunity for growth for LS, which focuses on power and energy industries.”

As new growth businesses for CFE, LS Group selected power generation, transmission and distribution solutions, CFE distribution, data-based platforms and communication solutions.

Koo also said that LS Group will focus on core technologies and solutions for customers in battery materials, electric vehicle parts and solutions, manufacturing automation, charging and mobility as service sectors, forecasting that there will be great growth opportunities in the battery, EV and semiconductor businesses.