LS Power Solution expands Ulsan plant
LS Power Solution expands its Ulsan plant to meet rising global demand for ultra-high-voltage transformers.
Image for illustration purposes
South Korea: LS Power Solution Co, a subsidiary of LS Electric C., is scaling up production to meet the surging demand for ultra-high-voltage transformers. With growing industrial expansion in the US and an aging transformer network in Korea, the company is positioning itself for sustained growth.
At its Ulsan plant, LS Power Solution manufactures transformers ranging from industrial-scale units as tall as a three-story building to compact household models. Despite their size, the intricate copper coil components require precise hand-wrapping before being machine-wound, vacuum-dried, insulated, and tested.
Founded in 1979 as Obok Electric, the company pioneered 154 kV transformer technology in 2020, joining Korea Electric Power Corp’s list of ultra-high-voltage transformer suppliers – an industry previously dominated by HD Hyundai Electric, Hyosung Group, and Iljin Group. After ownership transitions through LB Private Equity and LS Electric’s majority stake acquisition in 2023, it was rebranded as LS Power Solution.
To expand production, LS Power Solution launched an Ulsan plant expansion in June 2023, completing equipment installation in March 2024. LS Electric is also upgrading its Busan plant to further boost transformer output.
Demand is driven by data centre expansion and aging infrastructure replacement. In 2023, LS Power Solution’s transformer backlog reached $990 M (₩1.46 trillion), with overseas sales exceeding 56 %. LS Electric aims to increase ultra-high-voltage transformer revenue to $675 M (₩1 trillion) by 2030.
Source: Pulse
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