For Setting Global Strategy
LS Group chairman Koo Ja-yeol is visiting Japan, Germany and Iran from early this month to early next month.
His first destination was Japan. There, he met with JX Nippon Mining & Metals president and CEO Shigeru Oi to further solidify their cooperation via LS-Nikko Copper, a company invested by both. Then, he visited Mitsubishi Motors, Furukawa Electric and Hitachi Metals in order to expand their collaborations in the fields including automotive electronic component manufacturing and power cable manufacturing.
He flew to Germany on April 25 and participated in the Hannover Messe. On the following day, he met with Mr. Ralf Christian, CEO of the Energy Management Division of Siemens, and discussed integrated power management and integrated automation technologies. They agreed to the urgency of the international standardization of Industry 4.0 technologies, too. He also dropped by the German office of Superior Essex Inc., which it acquired eight years ago.
He is scheduled to stay in Iran from May 1 as a member of the economic mission accompanying President Park Geun-hye during her state visit to the country. In Iran, the chairman is to participate in business forums and seek new business opportunities in the energy and infrastructure industries.
In the meantime, LS Cable & System, one of the main subsidiaries of the group, obtained submarine cable supply contracts worth US$100 million in total in the United States and Canada and a super high voltage power cable supply contract worth US$55 million in Denmark early this year. LS Industrial Systems is currently taking part in a photovoltaic power plant project in Japan worth 11.3 billion yen.