LS Industrial Systems cements Iraq relationship

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LS Industrial Systems cements Iraq relationship

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Koo Ja-kyun, CEO and vice chairman of LS Industrial Systems (LSIS), left, talks with Iraqi Minister of Electricity Kareem Aftan during a tour of LSIS’s Busan plant on Wednesday. Provided by the company

As Iraq rebuilds in earnest after years of war, an 11-member delegation from the country visited Korea at the invitation LS Industrial Systems (LSIS) to explore an increasing role for the manufacturer, the company said yesterday.

Iraqi Minister of Electricity Kareem Aftan and 10 experts reached an agreement on comprehensive cooperation Saturday, paving the way for LSIS to enter the smart grid and renewable energy sectors, the company said.

Currently, LSIS is engaged in power transmission plant and power distribution control center projects in Iraq.

A smart grid is a digitally enhanced electric system that assimilates information about providers and consumers to maximize efficiency. During their seven-day visit in Korea, the Iraqis toured the Smart Grid Test-bed on Jeju Island and LSIS plants in Cheongju in North Chungcheong and Busan.

According to LSIS, Aftan expressed interest in green business solutions ranging from smart meters to solar energy, saying the state-of-the-art facilities he saw were “beyond his expectations.”

Koo Ja-kyun, CEO and vice chairman of LS Industrial Systems, promised that the company would l provide “all available solutions to improve Iraq’s electricity infrastructure.” LSIS has been participating in Iraqi reconstruction projects since 2011, winning a combined $350 million in orders.

The Iraqi Electricity Ministry expects to build 25 100-megawatt diesel power plants over the next two years and 100 power transmission plants in each of the next three years.

By Kim Mi-ju [mijukim@joongang.co.kr]

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