By Kim Yoo-chul
LS Industrial Systems (LSIS), the nation’s top provider of smart grids-related solutions, is expanding its business in Iraq supported by the government there.
“Over the last two years, LSIS has secured over $350 million in deals in Iraq, mostly from power transmission and transmission control. As we are positioned to expand our business in Iraq, LSIS will win more orders from the Iraqi government in electricity infrastructure projects,” said company spokesman Kim Dae-seong, Monday.
Kim said LSIS Vice Chairman and CEO Koo Ja-kyun recently invited senior government officials at the Ministry of Electricity in Iraq including Minister Kareem Aftan to visit Korea.
The Iraqi delegation inspected LSIS’s key manufacturing lines and were briefed by company executives over details of its patented solutions and how those solutions work with systems.
The minister toured LSIS’s facility in Cheongju, on May 20; and inspected demonstration sites that use LSIS-provided smart grid solutions on the resort island of Jeju, while they also visited the company’s key system-production facility in Busan.
“During the visit, LSIS and the Iraqi government agreed to expand collaboration in electricity infrastructure projects to include smart grids and solar-related businesses,” said the spokesman.
Kim added the Iraqi government vowed to buy more solutions provided by LSIS and stressed the South Korean company will remain as one of its trusted business partners.
“I was impressed by the minister as he paid keen attention to rechecking our solutions. LSIS will try hard to provide highly-improved solutions to help Iraq level up its electrical supply infrastructure,” Koo was quoted as saying in a press release.