LS Industrial changes corporate name to LSIS

By Kim Yoo-chul

LS Industrial, the nation’s leading maker of electric power and other related equipment, said Monday that it has decided to change its English corporate name to LSIS or spelled out “LS Industrial System.”

``LSIS will make its first international debut to our overseas clients in Germany, April,’’ said a company spokesman Kim Bong-kyu.

LS is injecting more of its resources to strengthen overseas businesses. Its CEO Koo Ja-kyun said the company is planning to strike an acquisition deal in ``greener’’ businesses in China to boost its traditionally strengths and find new areas of business.

Kim declined to unveil this year’s exact overseas sales target, but said it aims to create at least $200 million in revenue this year from $120 million last year from China alone.

``The English name change will help us get better recognition from oversea clients because it’s simple to memorize,’’ said Kim, adding his company’s long-term sales goal in China was $1.1 billion in 2015.

LS’s automation segment offers programmable logic controller (PLC) products, inverters, automation systems, railroad systems and transportation systems, while the metal processing segment produces copper tubes and stainless steel pipes, according to the company.