[Sponsored Report] LS Group focuses on green tech
A subsidiary of the group, LS-Nikko Copper, has devised a method to reuse excess heat from smelting copper. The company discharges the heat into a pipe connected to factories of neighboring companies S-Oil and Hankuk Paper to run a turbine and dry the pulp. The energy, which would otherwise be wasted, is used to earn surplus energy as well as cut costs.
Through implanting similar green technology into the corporation’s key industries - electronics, materials and energy - new resources and new businesses have been generated.
E1, an LPG importer, has established a local branch in Houston, Texas, in order to expand its business to shale gas, a greener substitute for coal, which is imported from North America. And the industrial machinery and components maker LS Mtron has designed tractors with an environmentally friendly engine, which is popular in South America, Central Asia and other emerging markets.
LS Group is also investing in developing submarine cables, smart grids and electric vehicle parts.
LS Cable and System, an LS subsidiary, has been producing submarine cables at its plant in Donghae, Gangwon, since 2009. Submarine cables are a crucial element for sustainable energy, as they are needed for offshore wind power systems or power transmission between countries. In 2012, the company signed a $435 million contract to provide submarine cables to Qatar Petroleum, followed by inking deals in Venezuela, Denmark and the Netherlands.
Meanwhile, LS Industrial Systems is a leader in the smart grid industry. A smart grid is a network that maximizes the efficiency of energy transmissions as suppliers and consumers can exchange energy information in real time. Smart grids are seen as potential problem solvers against worldwide power shortage problems, as well as opportunities for shared growth in fields such as electricity, communications, information technology and automobiles.
LS Group is also investing in training students in research and development. In conjunction with Seoul National University, Korea University and the Ulsan National Institute of Science and Technology, LS provides internship programs and research projects to encourage scientists of the future.
Koo Ja-yeol, the chairman of LS Group, said that LS would create new paradigms in the eco-friendly business market. “We will continue our endeavor in the international market and contribute in bringing a greener world,” Koo said.