LS Electric, GE Vernova form HVDC joint venture

LS Electric has signed an agreement with global power infrastructure company GE Vernova to establish a joint venture focused on voltage-source converter high-voltage direct current (VSC-HVDC) technology, seeking to strengthen their competitiveness in Korea’s next-generation power grid market.

The two companies signed the strategic cooperation agreement at CIGRE 2026, a major global power grid technology event, in Paris on Tuesday (local time). LS Electric Chairman Koo Ja-kyun and CEO Chae Dae-seok attended the ceremony along with Philippe Piron, CEO of GE Vernova’s Electrification segment, and Johan Bindele, CEO of its Grid Systems Integration business.

The joint venture, to be named Grid X Technology, will combine GE Vernova’s VSC-HVDC technology with LS Electric’s local manufacturing and project execution capabilities. The companies will cooperate on key equipment supply and the joint execution of HVDC projects in Korea, while seeking opportunities to expand into overseas markets.

The partnership is expected to support Korea’s efforts to modernize its power grid and strengthen the reliability of major transmission projects, including the government’s West Coast Energy Highway initiative, which is designed to transmit large amounts of renewable electricity generated in the southwestern Jeolla region and along the west coast to the Seoul metropolitan area.

“This cooperation brings together world-class VSC-HVDC technology and LS Electric’s unique experience in executing HVDC projects in Korea,” Koo said.

“Based on this partnership, we will strengthen Korea’s competitiveness to lead global HVDC technology and business.”

Piron said, “By combining GE Vernova’s global HVDC technology and experience with LS Electric’s strong local manufacturing and execution capabilities, we can support Korea in building the reliable transmission infrastructure needed for its future energy and economic growth.”

LS Electric is the only Korean manufacturer with experience supplying main equipment for commercial HVDC projects, according to the company. It supplied key equipment for the Bukdangjin-Godeok HVDC project, Korea’s first HVDC project, and is also supplying major equipment for the East Coast-Seoul Metropolitan Area HVDC project.

LS Electric operates Korea’s largest HVDC production base at its Busan plant, with integrated facilities for designing, manufacturing and testing key equipment, including converter transformers. The company said its project experience and production capabilities will help ensure stable supply and rapid responses to changes in global supply chains.

“VSC-HVDC requires not only advanced technology but also proven project execution experience and stable supply capabilities,” an LS Electric official said.

“This joint venture will integrate GE Vernova’s global-leading technology with LS Electric’s domestic project execution and production capabilities, providing customers with a streamlined interface for major projects such as the West Coast Energy Highway while strengthening the competitiveness of Korea’s HVDC industry.”