wiredInUSA April 2017

Joint cable venture

Korean collaboration

LS Cable & System Asia and its affiliate, Gaon Cable, held a joint venture signing ceremony in February 2017. The two companies will invest around $27 million to establish a production company, LS-Gaon Cable Myanmar (LSGM), at Myanmar’s Thilawa Special Economic Zone. The power cable plant, expected to be complete by 2018, will mainly produce aerial cables for power infrastructure, and low voltage cables for buildings and houses. LS C&S Asia plans to expand production to medium and high voltage cables through a phased investment.

Korea Electric Power Corporation (KEPCO) and GE have signed a memorandum of understanding to establish infrastructure for high voltage direct current transmission in Bitgaram Energy Valley in Naju city, South Korea. KEPCO’s CEO, Hwan Eik Cho, and Bong Soo Moon, its EVP and chief power grid officer, joined the signing ceremony with Jeff Immelt, chairman and CEO at GE, and Chris Khang, CEO for GE Korea. The companies have agreed to cooperate on localizing the latest HVDC technology. Bitgaram Energy Valley will be further leveraged as the HVDC test bed with investments in digital grid applications and big data analysis. To support this initiative, GE has opened an office in Naju. Hwan Eik Cho, CEO of KEPCO, said: “We are pleased to establish this HVDC infrastructure at Bitgaram Energy Valley through joint investment with GE,” adding: “This investment will contribute to the development of Korea’s HVDC technology, while the Energy Valley leaps to become a global hub for new energy businesses. GE’s continued investment in Korea will support the growth of local companies in the future.”

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wiredInUSA - April 2017