LS Group and Indonesia’s PT Perusahaan Listrik Negara (PLN, English: State Electricity Company) signed a strategic MOU on cooperation in power infrastructure development in Indonesia at Lotte Hotel in Seoul on July 28.

The MOU between the two companies was followed by a business roundtable where Indonesian President Joko Widodo, who was visiting Korea, met with Korean businesspeople to discuss ways to promote investment and cooperation between Korea and Indonesia. On hand were Erick Thohir, Indonesia's minister of state owned enterprises, and Darmawan Prasodjo, CEO of PLN, among others.

LS Group and PLN agreed to strengthen technical support and business cooperation in various fields such as power cables, power devices, and power systems for the development and establishment of power infrastructure in Indonesia in the future.

LS Cable & System, a core affiliate of LS Group, entered the Indonesian market in 2018 by signing a contract to establish LSAGI, a joint venture with Artagraha (AG), the 10th largest company in Indonesia. 

Earlier this year, LSAGI completed a power cable factory on a site of 64,000 square meters near Jakarta. The plant mainly produces power cables and low-voltage (LV) cables for power transmission and distribution optimized for power facilities and plants in Indonesia.