Friday, May 24th, 2013
SEOUL, KOREA - LS Industrial Systems has set out to commercialize the high-voltage direct current (HVDC) technology for the first time in Korea. The company said on May 23 that it has signed an agreement with Alstom S.A. of France and KEPCO Alstom Power Electronics Systems (KAPES), a joint venture between Alstom Grid and Korea's state-run electric utility, for HVDC technology transfer and equipment manufacturing.
Currently Alstom accounts for more than 20 percent of the worldwide HVDC market estimated about US$30 billion. Under terms of the agreement, KAPES will be responsible for developing the technology while Alstom and LS Industrial Systems will take charge of manufacturing core components and equipment for its commercialization.
Koo Ja-Kyun, vice chairman of LS Industrial Systems, said, "Once we are proficient at the HVDC manufacturing technology, it will contribute significantly to Korea's electric power supply. It will be also applicable to renewable energy resources and smart grid programs."