LS Corp. (006260) Vice Chairman Myung No-hyun recently visited major business sites across the United States and Mexico to expand into the North American power infrastructure market, saying he would "concentrate the group's capabilities on 17 business bases in the United States, including the Virginia submarine cable plant, to secure leadership in the global power and energy industry."
According to LS on Tuesday, Myung said, "The North American market is a land of opportunity expected to grow for decades to come, driven by the expansion of AI data centers, the replacement of aging power grids, and the growth of renewable energy infrastructure."
Myung embarked on a roughly 10-day U.S. business trip beginning June 17, attending the "Korea-U.S. Strategic Industry and Security Forum" held in Washington, D.C., and visiting the construction site of LS GreenLink's submarine cable plant in Virginia. The trip was arranged to strengthen the North American competitiveness of the power and energy business, a core growth pillar of LS Group, as the realignment of global supply chains accelerates around the United States.
On June 18, Myung met with heads of major U.S. subsidiaries, including LS GreenLink, LS Electric, LS Mtron and Superior Essex, to review North American business strategy. At the meeting, he coordinated each affiliate's North American market expansion strategies for ultra-high-voltage transformers, submarine cables and power distribution systems, and called for enhanced localization strategies. "We must advance localization strategies that can turn strengthening trade barriers, such as Build America, Buy America, into opportunities," Myung said.
LS Group has currently entered 17 business bases in nine U.S. states. Over the next five years, it plans to invest a total of 3 billion dollars, or about 4.6 trillion won, in LS GreenLink's Virginia submarine cable plant, LS Electric's Utah power equipment plant and other facilities.
In connection with this, Myung also met with political and government figures, including Korean Ambassador to the United States Kang Kyung-wha, a senior director of the U.S. National Security Council (NSC), an acting assistant to the U.S. Trade Representative (USTR), and Rick West, mayor of Chesapeake, Virginia. Myung explained LS Group's U.S. investment status and its role in the realignment of global supply chains, and requested government-level support such as expanded tax credits and flexible tariff measures.
Myung visited the LS Cable & System Americas regional headquarters and the construction site of LS GreenLink's submarine cable plant in Virginia, where he personally inspected the progress and encouraged employees. "There is great global market interest in this plant, which will play a central role in U.S. offshore wind power and power grid modernization," he said. "Please thoroughly manage quality and safety, minimize trial and error, and complete construction on time."
On June 21 and 22, he visited the headquarters of Superior Essex (SPSX) in Atlanta. There, he discussed ways to strengthen market dominance in future businesses, such as high-voltage windings for eco-friendly vehicle drive motors and communication cables for data centers. On June 23 and 24, he visited LS Automotive's plant in Monterrey, Mexico, touring the production lines and partner companies and reviewing strategies to tap the North American automotive electronics market.
