GE Vernova and LS Electric have announced they have signed an agreement to establish a joint venture based on Voltage-Sourced Converter High-Voltage Direct Current (VSC-HVDC) to modernise South Korea’s power grid.

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African Energy Week 2026

The goal of the joint venture is to strengthen competitiveness in a segment both companies describe as a core component of Korea’s next-generation power grid.

The joint venture will be called Grid X Technology. Details on its structure, capitalisation, and timeline have not yet been detailed.

South Korea is expanding its offshore wind capacity as part of its broader clean energy goals, which requires grid infrastructure improvements.