LS Vice Chairman Myung Noh-hyun Targets North American Market for Energy Dominance

LS Group is accelerating its investments and supply chain expansion in the North American market, which is experiencing a surge in demand for AI data centers and power grid modernization. Myung Noh-hyun, Vice Chairman of LS, has been visiting the United States and Mexico to strengthen the competitiveness of the power and energy business and review localization strategies.

On June 26, LS Group announced that Vice Chairman Myung has been on a business trip to the U.S. since June 17, inspecting North American power infrastructure projects and coordinating strategies among key subsidiaries. This initiative aims to enhance the company's dominance in the North American power and energy market in response to the restructuring of global supply chains centered around the U.S.

After attending the Korea-U.S. Strategic Industry and Security Forum in Washington, D.C., Myung held a strategy meeting with LS Greenlink's Shin Yoon-chan, LS Electric's Lee Chung-hee, LS Mtron's Kim Man-jung, and Essex Solutions' Choi Chang-hee to review North American business strategies.

The meeting focused on enhancing the competitiveness of various subsidiaries in areas such as high-voltage transformers, underwater cables, and distribution systems, as well as discussing localization strategies in response to the Build America, Buy America initiative.

During his trip, Myung met with key figures including Korean Ambassador to the U.S. Kwon Yong-se and officials from the U.S. National Security Council (NSC) and the Office of the U.S. Trade Representative (USTR), as well as Rick West, the mayor of Chesapeake, Virginia. He explained LS Group's investment plans and requested government support for expanded tax credits and flexible tariff policies.

LS currently operates 17 business locations across nine U.S. states and plans to invest $3 billion (approximately 4.6 trillion won) over the next five years, focusing on the underwater cable factory in Virginia and a power equipment factory in Utah.

Myung also visited the construction site of the LS Greenlink underwater cable factory in Virginia to assess progress and emphasized the importance of quality and safety management for timely completion. He stated, "As this factory will be a key hub for offshore wind power and power grid modernization in the U.S., we must minimize trial and error to establish it as a frontline base for global energy transition."

Later, at the headquarters of Superior Essex in Atlanta, discussions were held on expanding high-voltage winding (HVWW) for electric vehicles and communication cables for data centers. At the LS Automotive plant in Monterrey, Mexico, the North American business strategy targeting global automotive manufacturers was reviewed.

Myung remarked, "The North American market is a vast opportunity expected to see continuous growth for decades due to the expansion of AI data centers, the replacement of aging power grids, and the development of renewable energy infrastructure. We will concentrate all our capabilities on the businesses established across nine states and 17 locations, including the Virginia underwater cable factory, to secure dominance in the global power and energy industry."