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GE Vernova, LS Electric Form JV to Support South Korea Grid

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LS Electric has signed an agreement establishing a joint venture with GE Vernova (GEV) to compete in VSC-HVDC or the Voltage-Sourced Converter-High-Voltage Direct Current business, key to advancing a next-generation power grid in Korea.

The two companies held a signing ceremony at the CIGRE 2026 power grid technology event in Paris on Tuesday, according to a press release by LS Electric.

The joint venture, named "Grid X Technology," will pursue opportunities in South Korea's VSC-HVDC market and develop joint offerings covering the supply of key equipment and execution of HVDC projects.

The companies also plan to establish a framework supporting the development of South Korea's next-generation power grid and potential expansion into the global HVDC market.

The partnership combines GE Vernova's VSC-HVDC technology and global experience with LS Electric's domestic manufacturing and project execution capabilities, the companies said.

"Korea is entering a new phase of electricity infrastructure development, where generation and the grid need to advance together," said Philippe Piron, president and CEO of GE Vernova's Electrification segment.

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