LS Electric signed a partnership agreement with GE Vernova to develop high-voltage direct current conversion equipment domestically, as the South Korean manufacturer capitalizes on a 1.8 trillion won ($1.28 billion) order backlog for ultra-high voltage transformers.
The memorandum of understanding announced Thursday targets localization of gigawatt-class voltage-source HVDC converter valves, with LS Electric utilizing its existing production infrastructure while accessing GE Vernova’s advanced technology. The Korean company has already completed localization of HVDC conversion transformers.
LS Electric reported second-quarter operating profit of 108.6 billion won ($77.3 million), with North American sales representing 33% of total revenue. The company’s North American expansion has driven recent growth as utilities upgrade aging grid infrastructure.
HVDC technology converts alternating current from power plants into high-voltage direct current for long-distance transmission before converting back to AC for distribution. The technology proves essential for integrating renewable energy sources and connecting distant generation facilities to population centers.
The partnership follows LS Electric securing a 561 billion won contract to supply HVDC transformers for South Korea’s East Coast-Capital Region project, part of the country’s largest power infrastructure initiative aimed at serving semiconductor manufacturing clusters.
The collaboration positions both companies to compete for global HVDC projects as governments invest in grid modernization. GE Vernova recently secured research contracts with German transmission operators for multi-terminal HVDC systems, highlighting growing demand for advanced grid technologies.
