LS Group, celebrating its 20th anniversary this year, is accelerating corporate activities to grow as a leading carbon free electricity (CFE) core partner.
LS Group said the group chalked up 36,345.1 billion won in sales and 1,198.8 billion won in operating profit last year, the best-ever business performance.
LS Group Chairman Koo Ja-eun said, “LS Group’s achieving the best-ever business performance last year is owed to its executives and staffers’ cultivating well the seed, sowed by former chairman Christopher Koo, and I’ve just reaped it.”
“Starting this year, LS Group will make efforts to achieve the “Vision 2030” and further make a leap forward by producing the buds of future growth businesses, sowed by Koo Ja-eun based on the conventional mainstay businesses,” Chairman Koo said.
The Vision 2030 future roadmap revealed by Chairman Koo at a New Year’s gathering calls for a transition to a core partner leading CFE and future industries.
Chairman Koo said, “The common task of the whole world for next 30 years can be summed up as net zero, and the core of net zero is CFE.” He said transition to a CFE era would serve as a new growth opportunity for LS with mainstay businesses, such as electricity and energy industries.
Under the vision, he said, LS Group will double the value of assets, now standing at 25 trillion won, by 2030 to become a global market leader company. To this end, LS will invest a combined over 20 trillion won for next eight years.
LS Dedicates Nickel Sulfate Plant
LS Group dedicated a nickel sulfate plant capable of producing 5,000 tons annually, at Toricom’s worksite in Asan, Chungcheongnam-do, on March 27.
The move is part of efforts to ramp up the key material for next-generation EV batteries.
Toricom is an investment company of the nonferrous metal company LS MnM, specializing in recycling precious metals, such as gold, silver, platinum and palladium.
Toricom, Korea’s largest urban mining company, posted 320 billion won in sales last year. LS MnM produces crude nickel sulfate to Toricom, which in return produces nickel sulfate for secondary batteries through impurity refinement and crystallization.
