LS Group’s LS Cable Ltd. announced Thursday that it had changed its name to LS Cable and System at the previous day’s shareholders meeting.
LS Cable and System said that the change was approved as its previous name LS Cable did not sufficiently represent the scope of its operations.
The company, the country’s largest producer of cables and wires, has been changing its business model from a supplier of cables to a “solution provider” that spans electricity supply, telecommunication networks and solar power.
The decision comes less than a week after a similar decision was made by another LS Group subsidiary, LS Industrial Systems Co.
The company, a maker of electric equipment, changed its name to LSIS Co. as it also considered its original name to insufficiently represent its business portfolio, which has expanded beyond the electrical and electronics industry.
According to the company, the new name represents not only industrial systems, but also its business as a provider of “innovative solutions” and “infra solutions.”
By Choi He-suk (email@example.com