LS ELECTRIC has established a North American business complex in Texas that encompasses production, technology, and services. LS ELECTRIC aims to become one of the top four power corporations in the United States.
On the 14th (local time), LS ELECTRIC held a groundbreaking ceremony for the 'LS ELECTRIC Bastrop Campus' in Bastrop, Texas. Gu Ja-kyun, Chairman of LS ELECTRIC, Bastrop Mayor John Kirkland, and over 200 attendees from LS ELECTRIC, State Governments of Texas, and local industries participated in the ceremony.
The Bastrop Campus spans an area of 46,000 square meters with a building floor area of approximately 3,300 square meters. LS ELECTRIC secured this site and its auxiliary facilities in 2023, conducted building expansions and renovations, and gradually increased its production facilities. The Bastrop Campus will serve as a complex campus supporting North American business in production, research, and design.
Starting this year, LS ELECTRIC plans to begin full-scale production of medium and low voltage power equipment and distribution systems (switch gear) for data centers of major U.S. tech corporations at the Bastrop Campus. The company aims to accelerate business expansion by using the Bastrop Campus and its subsidiary MCM Engineering II in Cedar City, Utah, as its two major bases. LS ELECTRIC explained that producing strategic products for North America locally could alleviate some tariff pressure from the U.S. government.
Chairman Gu Ja-kyun noted in his welcoming remarks, "We will invest an additional $240 million in the Bastrop Campus by 2030 to expand production facilities and hire local talent, transforming it into a North American power solution hub that coexists with the community." He also said, "We will thoroughly localize not just products and solutions but the entire business value chain—including our supply system and services—by extending our production, technology, and service infrastructure across the United States." Chairman Gu emphasized that this investment marks the starting point for LS ELECTRIC's goal of increasing its overseas sales proportion to 70% and becoming one of the top four power corporations in the United States.
Last year, LS ELECTRIC recorded approximately 1.3 trillion won in sales in North America. The company is actively targeting the market in response to increasing local power infrastructure demand. Last month, it also signed a supply contract for a data center distribution system worth 160 billion won with a major U.S. tech corporation. Utilizing its own distribution network established across North America through its subsidiary, LS ELECTRIC America, the company plans to close the gap with major overseas corporations such as Schneider, Siemens, Eaton, and ABB by building a rapid service infrastructure.