GE Vernova and LS ELECTRIC have agreed to establish Grid X Technology, a VSC-HVDC joint venture aimed at strengthening Korea’s next-generation power grid.
LS ELECTRIC has signed joint venture agreement for establishing a joint venture (JV) with global power infrastructure company GE Vernova to further strengthen its competitiveness in the Voltage-Sourced Converter (VSC)-HVDC (High-Voltage Direct Current) business, a core component of Korea’s next-generation power grid.
LS ELECTRIC announced that it held a signing ceremony for a strategic cooperation agreement to establish a VSC-HVDC joint venture at “CIGRE 2026,” the world’s largest power grid technology event, held in Paris, France, on the 25th.
The signing ceremony was attended by Koo Ja-kyun, Chairman of LS ELECTRIC; Chae Dae-seok, CEO of LS ELECTRIC; Philippe Piron, CEO of GE Vernova’s Electrification segment; and Johan Bindele, CEO of GE Vernova’s Grid Systems Integration business.
Through the establishment of the joint venture, the two companies plan to pursue cooperation in the VSC-HVDC market in Korea and develop joint offerings and strategies covering supply of key equipment and joint execution of HVDC projects in Korea. They will establish a cooperative framework to support the development of Korea’s next generation power grid and expand into the global HVDC market.
The joint venture will be named “Grid X Technology,” reflecting the concepts of Grid Reliability, Integration, and eXchange.
Koo Ja-kyun, Chairman of LS ELECTRIC, said, “This cooperation brings together worldclass VSC-HVDC technology and LS ELECTRIC’s unique experience in executing HVDC projects in Korea, with the aim of building Korea’s Energy Highway in a more reliable manner. Based on this partnership, we will strengthen Korea’s competitiveness to lead global HVDC technology and business.”
“Korea is entering a new phase of electricity infrastructure development, where generation and the grid need to advance together,” said Philippe Piron, President & CEO of GE Vernova’s Electrification segment. “HVDC is critical when it comes to moving large amounts of electricity efficiently from where it is generated to where it is needed. By combining GE Vernova’s global HVDC technology and experience with LS ELECTRIC’s strong local manufacturing and execution capabilities, we can support Korea in building the reliable transmission infrastructure needed for its future energy and economic growth.”
LS ELECTRIC expects that its cooperation with GE Vernova will further enhance the reliability of the West Coast Energy Highway project being promoted by the Korean government. The West Coast Energy Highway is a key national project designed to reliably transmit large-scale renewable energy generated in the Honam region and along the west coast to the metropolitan area. Core VSC-HVDC technology, proven project execution capabilities, and a stable supply chain are considered critical to the project’s success.
LS ELECTRIC is the only manufacturer in Korea with experience delivering main equipment for commercial HVDC projects. Following the success of Korea’s first HVDC project, the Bukdangjin–Godeok project, the company is again playing a critical role to supply key equipment for the East Coast–Seoul Metropolitan Area HVDC project, accumulating relevant experience and know-how.
The experience gained from domestic HVDC projects throughout the project cycle is a distinctive competitive advantage that only LS ELECTRIC possesses. Combined with GE Vernova’s world-class VSC-HVDC technology, this capability is expected to further strengthen the reliability and technological competitiveness of Korea’s national power grid development.
LS ELECTRIC has established Korea’s largest HVDC production base at its Busan factory, equipped with an integrated production system capable of handling the design, manufacturing, and performance testing of key equipment, including converter transformers (C-TRs). Its ability to manufacture and supply key equipment in line with project schedules is a key strength, enabling stable and quick responses to changes in the global supply chain.
An LS ELECTRIC representative said, “The VSC-HVDC business requires not only world class technology but also proven project execution experience and stable supply capabilities. Through this cooperation, we are well-positioned to develop and promote a powerful joint offering that integrates GE Vernova’s global-leading technology with LS ELECTRIC’s domestic project execution experience, and production capabilities. This joint venture serves as the strategic launchpad to unify our strategies, providing a streamlined and competitive interface for customers to access our combined strength for major projects such as the West Coast Energy Highway while strengthening the competitiveness of Korea’s HVDC industry.”
