South Korean conglomerate LS Group has been pursuing business transformation with massive investment in future technologies in the hope that the effort will advance its manufacturing process and boost sales overseas.
Under the slogans of “R&D Speed-up” and “Digital Transformation,” LS Group has been increasing investment in developing key technologies for electricity infrastructure, smart energy systems and other digital transformation efforts.
These initiatives are most notable in the company’s efforts to establish a smart factory system for a massive smelter in Onsan, Ulsan Metropolitan City. Describing it as the company’s next growth engine, LS Group hopes the Onsan Digital Samelter will boost productivity and global sales.
|LS-Nikko Copper’s sulfuric acid factory at the copper smelter in Onsan, Ulsan LS Group|
“With financial soundness and manufacturing stability improving, mining companies around the world have been showing interest and increasing contact,” said an official from LS-Nikko copper, an affiliate of LS Group.
LS-Nikko Copper, the country’s leading copper-processing company, has been seeking to edge out global competitors by landing multiple contracts with overseas mine owners to acquire massive amounts of copper.
In November last year, the company signed a five-year deal with BHP Billiton PLC to purchase 1.65 million tons of copper concentrate. The Australian miner agreed to provide 30,000 tons of copper concentrate a year from 2019 to 2023.