US energy technology company GE Vernova and South Korean power equipment and automation company LS Electric have signed an agreement to establish a joint venture focused on voltage-source converter high-voltage direct current (VSC-HVDC) transmission projects in South Korea.
The venture, named Grid X Technology, will develop joint offerings and strategies covering the supply of critical equipment and the execution of HVDC projects in South Korea. The companies also intend to pursue opportunities in the global HVDC market.
Financial terms, ownership stakes and a timeline for establishing the venture were not disclosed.
The agreement was signed at the International Council on Large Electric Systems (CIGRE) 2026 in Paris, France. Attendees included LS Electric chairman Koo Ja-kyun and CEO Chae Dae-seok, alongside GE Vernova Electrification president and CEO Philippe Piron and Grid Systems Integration CEO Johan Bindele.
“This cooperation brings together world-class VSC-HVDC technology and LS Electric’s unique experience in executing HVDC projects in Korea, with the aim of building Korea’s Energy Highway in a more reliable manner,” Koo said. “Based on this partnership, we will strengthen Korea’s competitiveness to lead global HVDC technology and business.”
VSC-HVDC technology allows large volumes of electricity to be transmitted over long distances while providing greater control over power flows. It can support the connection of renewable energy projects to weaker sections of the electricity network.
The partnership is expected to support South Korea’s West Coast Energy Highway, a national project designed to transmit large-scale renewable electricity generated in the Honam region and along the west coast to the Seoul metropolitan area.
“Korea is entering a new phase of electricity infrastructure development, where generation and the grid need to advance together,” Piron said. “HVDC is critical when it comes to moving large amounts of electricity efficiently from where it is generated to where it is needed.”
“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,” he added.
LS Electric said it is the only South Korean manufacturer with experience supplying primary equipment for commercial HVDC projects. It previously worked on the Bukdangjin–Godeok link, South Korea’s first HVDC project, and is supplying critical equipment for the East Coast–Seoul Metropolitan Area HVDC development.
The company operates what it describes as South Korea’s largest HVDC production base at its Busan factory. The facility provides integrated design, manufacturing and performance-testing capabilities for equipment including converter transformers.