By Jung Min-hee
LS Group has decided to invest 10 trillion won(US$7.97billion) in future growth drivers over the next five years. It is the group’s first long-term investment plan announced since Koo Ja-eun took office as the group’s chairman earlier this year.
LS Group has made an internal decision to invest about 10 trillion won in the United States, Latin America, and Southeast Asia as well as Korea over the next five years. Investment will be made in three key areas — future energy, advanced materials and electric vehicles.
In the future energy sector, it will focus on submarine cables, ultra-high voltage DC transmission, and hydrogen. Investment will be led by LS Cable & Systems, LS Electric and E1.
With respect to advanced materials, LS Nikko Copper is gearing up to expand business in semiconductors and secondary battery materials.
In the electric vehicle sector, LS Cable & System and LS Electric will invest in electric vehicle parts and electric vehicle charging solutions, respectively.
Last month, LS Group signed a contract with a Japanese consortium to purchase its 49.9 per cent stake in LS-Nikko Copper. The decision was made in line with a plan to develop the world’s second-largest electrolytic copper maker into a company that produces materials for semiconductors and secondary batteries in the future.
