LS Electric Chairman Koo Ja-kyun, third from left, poses with Johan Bindele, left, CEO of GE Vernova’s Grid Systems Integration business, Philippe Piron, second from left, CEO of GE Vernova’s Electrification segment, and LS Electric CEO Chae Dae-seok after signing an agreement to establish a joint venture in Paris on Tuesday local time. Courtesy of LS Electric

LS Electric has signed an agreement with global power infrastructure company GE Vernova to establish a joint venture focused on voltage-source converter high-voltage direct current (VSC-HVDC) technology, aiming to strengthen the companies’ competitiveness in Korea’s next-generation power grid market.

The two companies signed the strategic cooperation agreement at CIGRE 2026, a major global power grid technology event, in Paris on Tuesday local time. LS Electric Chairman Koo Ja-kyun and CEO Chae Dae-seok attended the ceremony together with Philippe Piron, CEO of GE Vernova’s Electrification segment, and Johan Bindele, CEO of its Grid Systems Integration business.

The joint venture, which will be named Grid X Technology, will combine GE Vernova’s VSC-HVDC technology with LS Electric’s local manufacturing and project execution capabilities. The companies said they will cooperate on key equipment supply and the joint execution of HVDC projects in Korea, while also seeking opportunities to expand into overseas markets.

The partnership comes as Korea seeks to expand transmission infrastructure for rising renewable power output and long-distance delivery to demand centers, making HVDC systems an important part of grid planning and large-scale project execution. The companies said the collaboration is intended to support Korea’s efforts to modernize its power grid and improve the reliability of major transmission projects, including the government’s West Coast Energy Highway initiative. The project is designed to transmit large amounts of renewable electricity generated in the southwestern Jeolla region and along the west coast to the Seoul metropolitan area.

“This cooperation brings together world-class VSC-HVDC technology and LS Electric’s unique experience in executing HVDC projects in Korea,” Koo said. “Based on this partnership, we will strengthen Korea’s competitiveness to lead global HVDC technology and business.”

Piron said, “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 said it is the only Korean manufacturer with experience supplying main equipment for commercial HVDC projects. The company supplied key equipment for the Bukdangjin-Godeok HVDC project, Korea’s first HVDC project, and is also supplying major equipment for the East Coast-Seoul Metropolitan Area HVDC project.

The company operates Korea’s largest HVDC production base at its Busan plant, with integrated facilities for designing, manufacturing and testing key equipment, including converter transformers. LS Electric said its project experience and production capabilities will help ensure stable supply and quick responses to changes in global supply chains.

“VSC-HVDC requires not only advanced technology but also proven project execution experience and stable supply capabilities,” an LS Electric official said. “This joint venture will integrate GE Vernova’s global-leading technology with LS Electric’s domestic project execution and production capabilities, providing customers with a streamlined interface for major projects such as the West Coast Energy Highway while strengthening the competitiveness of Korea’s HVDC industry.”