Original Korean article: Electric Times
Contract Signed at CIGRE 2026 in Paris, France
LS Electric has signed a contract to establish a joint venture with GE Vernova, a global power infrastructure company, to strengthen competitiveness in the voltage source (VSC) HVDC business, a core element of South Korea's next-generation power grid.
LS Electric announced that on the 25th (local time), it held a "strategic cooperation contract signing ceremony for the establishment of a voltage source HVDC joint venture" at CIGRE 2026, the world's largest power grid technology exhibition held in Paris, France.
The signing ceremony was attended by Gu Ja-gyun, chairman of LS Electric; Chae Dae-seok, representative director of LS Electric; Philippe Piron, CEO of GE Vernova's Electrification Division; and Johan Windel, CEO of GE Vernova's Grid System Integration Business Division.
Joint Development of Solutions and Strategies
Through the establishment of the joint venture, the two companies plan to promote cooperation in the domestic voltage source HVDC market and develop joint solutions and strategies including the supply of core equipment and joint execution of domestic HVDC projects.
The companies will also establish a cooperation framework to support the construction of South Korea's next-generation power grid and to enter the global HVDC market.
The joint venture has been named "Grid X Technology," incorporating the concepts of reliability, integration, and exchange (eXchange) of the power grid.
Supporting the West Coast Energy Corridor Project
LS Electric expects this cooperation with GE Vernova to further enhance the reliability of the government's "West Coast Energy Corridor" project. The West Coast Energy Corridor is a national project to stably transmit large-scale renewable energy produced in the Honam region and West Coast areas to the Seoul metropolitan area. The success of this project requires core voltage source HVDC technology, proven project execution capabilities, and a stable supply chain.
LS Electric is the only domestic manufacturer with experience supplying core equipment for commercial HVDC projects. Following the success of the domestic HVDC project between Buktangjeong and Goduk, it is currently supplying core equipment for the East Coast-Seoul Metropolitan Area HVDC project and has accumulated relevant experience and expertise.
The experience gained through successful execution of domestic HVDC projects is a unique competitive advantage possessed only by LS Electric. Combined with GE Vernova's world-class voltage source HVDC technology, the reliability and technological competitiveness of South Korea's national power grid development is expected to be further strengthened.
Production Capabilities and Infrastructure
LS Electric has established South Korea's largest HVDC production base at its Busan facility and possesses an integrated production system capable of handling design, manufacturing, and performance testing of core equipment such as converter transformers (C-TR). The ability to manufacture and supply core equipment according to project schedules is a key strength in responding stably and quickly to changes in the global supply chain.
Gu Ja-gyun, chairman of LS Electric, stated, "This cooperation combines world-class voltage source HVDC technology with LS Electric's experience in executing domestic HVDC projects to build South Korea's energy corridor more stably. Based on this partnership, we will strengthen competitiveness so that South Korea can lead global HVDC technology and business."
Philippe Piron, CEO of GE Vernova, said, "South Korea is entering a new phase of power infrastructure development where power generation and transmission networks must develop together. HVDC is essential for efficiently delivering generated electricity to where it is needed. By combining GE Vernova's global HVDC technology and experience with LS Electric's strengths in local manufacturing and project execution capabilities, we can support the construction of reliable transmission infrastructure necessary for Korea's future energy and economic growth."
An LS Electric official stated, "The voltage source HVDC business requires not only world-class technology but also proven project execution experience and stable supply capacity. Through this cooperation, we have laid the foundation to develop a strong joint solution by combining GE Vernova's market-leading global technology with LS Electric's project execution experience and production capacity."
The official added, "This joint venture will serve as a platform for integrating the strategies of both companies. It is expected to provide customers with a single efficient and competitive window combining the strengths of both companies for large-scale projects such as the West Coast Energy Corridor, while strengthening the competitiveness of the domestic HVDC industry."
