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SEOUL, May 23 (Yonhap) -- LS Industrial Systems Co., a leading South Korean manufacturer of electric components, said Thursday that it will provide equipment and parts for the country's ambitious high-voltage direct current (HVDC) project.
Last year, state-run Korea Electric Power Corp. set up a joint venture with Alstom to secure the French power equipment maker's HDVC technology, a top-tier power transmission technology.
The joint venture will carry out the HDVC project aimed at stabilizing power supply and demand in the country.
LS Industrial said it will work with Alstom to manufacture and supply key devices necessary for the project and will benefit from technical support from Alstom with regard to manufacturing technologies.
The HVDC is more economic than common alternating current for transmitting large amounts of power point-to-point over long distances. At long distances, the HVDC transmission scheme generally has lower losses than a typical transmission link.
According to LS Industrial, Alstom accounts for 20 percent of the 30-trillion won (US$26.64 billion) HVDC market around the globe. Players such as Siemens and ABB also garner a large slice of the global HVDC market, it said.
LS Industrial said it will make inroads into the global HVDC market and aims to secure 6 percent of the global market valued at approximately 80 trillion won by 2020.
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