KOC Electric

What KOC Electric does

KOC Electric, now operating as LS Power Solution Co., Ltd. following a 2024 management merger with LS Electric and a 2025 corporate rebrand, is a South Korean electrical equipment manufacturer specializing in transformers and integrated power systems for marine, power transmission, industrial, and petrochemical applications. The company was founded in 1979 as OBOK Electric in Busan, renamed KOC Electric in 1999, and operates from a Busan headquarters, a Ulsan manufacturing facility, and an Anyang sales office. Its product portfolio spans four core transformer categories — 154kV extra-high-voltage transformers (the only Korean SME with KEPCO registration), oil-immersed transformers, cast resin transformers, and dry-type transformers — together with an Electrical & Electronic Solutions line covering Main Switch Boards, UPS, battery chargers, load bank transformers, energy storage systems, frequency converters, automatic bus transfer (ABT) devices, alternative maritime power (AMP) systems, and low harmonic inverters. The company holds a leading position in Korean ship transformer supply over 40+ years and is the only Korean SME registered as a 154kV supplier to KEPCO and KHNP, backed by extensive certifications (ATEX, IECEx, KCs, IEEE Std 693-2005, ABS, BV, DNV, LR, RS, KEPCO KTP, KEPIC).

The business model is B2B enterprise field sales of custom-engineered, project-based hardware with long sales cycles, primarily serving shipyards (Samsung Heavy Industries, HD Hyundai, Hanwha Ocean, Daehan Shipbuilding), state-owned utilities (KEPCO, the five Korean power generation companies), naval/defense customers, renewable energy developers, and international project owners in the Bahamas, Philippines, Malaysia, Japan, and China. Revenue is generated largely through one-time transformer and power equipment sales with ancillary after-sales service and spare parts support; the company holds approximately 23 KEPCO substation references with 30 bank units supplied and has demonstrated export growth from USD 5M to USD 10M Export Tower status between 2012 and 2020. Ownership has transitioned from founder management to SkyLake Investment (2015), then LB Private Equity (2021), and finally to LS Electric (2024) as part of the LS Group.

Operationally, KOC Electric distinguishes itself through proprietary technologies in seismic-withstanding transformers (LRB base isolation, Korea's only IEEE Std 693-2005 certification for oil-immersed type, capable of withstanding magnitude 9 earthquakes), Korea's first explosion-protected dry-type transformer (IECEx/KCs certified for Zone 2 hazardous areas), and high-efficiency 154kV designs reducing transformer losses by approximately 27%. The 2024 integration into the LS Group provides a platform for global scaling into North American and Middle Eastern markets beyond the existing Korean shipbuilding and utility core.

Name

KOC Electric

Legal name

LS Power Solution CO.,LTD.

Website

https://kocelec.com

Company type

Private

Founded year

1979

Operating status

Operating

Short description

KOC Electric (now LS Power Solution) is a Busan-based Korean manufacturer of transformers and electrical power systems for shipyards, utilities, and industrial customers, with the only SME-held 154kV KEPCO registration and a leading position in marine transformers.

Ownership category

akta.pro rank

Product category

Power and Distribution Transformers

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Switchgear and Switchboard Apparatus Manufacturing (335313), Electrical Equipment Manufacturing (3353)

SIC

Power, Distribution & Specialty Transformers (3612), Electronic Coils, Transformers & Other Inductors (3677), Switchgear & Switchboard Apparatus (3613)

akta.pro primary industry

Transformers (Power, Distribution, Instrument, Specialty) (IMAGAAAA)

akta.pro secondary industries

High-Voltage & High-Power Conversion (HVDC supplies, traction/rail converters, large rectifiers) (IMAGADAH), DC-AC Inverters (Industrial inverters, standalone/embedded) (IMAGADAC)

Keywords

• Power transformers
• Marine transformers
• High voltage transformers
• Power conversion systems
• Electrical equipment manufacturing

Headquarters

HQ city

Busan

HQ country

South Korea

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transformer Sales: Manufacturing and selling various types of transformers including extra high voltage (154kV), oil immersed, cast resin, and dry type transformers for marine vessels, offshore plants, power transmission/distribution, and industrial applications. Primarily one-time hardware sales with long sales cycles to enterprise customers.
2. Electric & Electronic Systems: Power package solutions including frequency converters, auto bus transfer devices, heli starters, packaged power systems, UPS, battery chargers, and control panels for marine and industrial applications.
3. After-sales Service & Support: Technical support, maintenance, and spare parts supply through customer support channels including phone, fax, and online inquiry system.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

KOC Electric (now LS Power Solution) manufactures and sells electrical transformers and electronic power systems, with four core transformer categories — Extra High Voltage (154kV), Oil Immersed, Cast Resin, and Dry Type — alongside Electrical & Electronic Solutions including Main Switch Boards, UPS, Frequency Converters, Auto Bus Transfer devices, Energy Storage Systems, and Alternative Maritime Power systems. The company primarily serves enterprise customers in shipbuilding, power transmission/distribution, and industrial sectors through direct B2B sales.

Product overview

KOC Electric (LS Power Solution) is an electric power total solutions company specializing in transformers and electrical/electronic systems for ships, offshore plants, and land applications. The product portfolio includes four core transformer categories: Extra High Voltage Transformers (154kV class), Oil Immersed Transformers, Cast Resin Transformers, and Dry Type Transformers. The Electrical & Electronic Solutions division provides comprehensive power systems including Main Switch Boards, UPS, Battery Chargers, Load Bank Transformers, Energy Storage Systems, Frequency Converters, Auto Bus Transfer Devices, and Alternative Maritime Power systems. The company serves maritime (merchant ships, warships, offshore plants), industrial (renewable energy, power distribution), and specialized applications (explosion-protected, seismic withstanding, VFD systems). Products are offered as both individual units and integrated systems, with capabilities ranging from standard distribution transformers to advanced power conversion and energy storage solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Extra High Voltage Transformer (154kV) 154kV class transformers for power transmission and distribution systems, including three-phase transformers for wind power, biomass, and substation applications. Reduces transformer losses by 27% (from 364kW to 264kW). Registered as a KEPCO and KHNP qualified supplier.
• Oil Immersed Transformer Transformers with optimal insulation configuration suitable for general to special load applications. Available in distribution, pole mounted, pad mounted, and special configurations including explosion-protected and seismic withstanding models. Korea's first seismic withstanding oil immersed transformer certified for magnitude 9.0 earthquake resistance.
• Cast Resin Transformer (Mold Transformer) Transformers with epoxy resin encapsulation providing superior insulation and fire resistance. Used in ships, offshore plants, and land applications including renewable energy systems. Seismic withstanding variants certified by Seismic Research and Test Center at Pusan National University for magnitude 9 and intensity 12.
• Dry Type Transformer Air-cooled transformers certified by marine classification societies (ABS, BV, DNV, LR, RS), suitable for ships, warships, and industrial applications. Includes Korea's first explosion-protected dry type transformer for Zone 2 hazardous areas with IP66 protection rating and EX e (Increased Safety) structure.
• Main Switch Board Power distribution equipment that receives power from generators and supplies it to equipment and facilities while protecting loads through protective circuits. Used in marine and industrial applications.
• Battery Charger and Discharger Equipment that rectifies AC power to DC for supplying power to required loads and charging storage batteries, providing stable power during main power outages for marine and industrial use.
• UPS (Uninterruptible Power Supply) Marine and industrial uninterruptible power supply systems with high reliability through high-speed transient response and various interfaces for wide compatibility.
• Energy Storage System (ESS) Energy storage system with peak shaving function and emergency power supply capability, achieving efficiency of 98% or higher through advanced power conversion technology.
• Frequency Converter Marine frequency converter that converts generator frequency to load-required frequency, providing high-precision frequency through digital control and CAN communication parallel operation.
• Auto Bus Transfer Device (ABT) Automatic bus transfer device for rapid power switching without power interruption, developed with proprietary technology and MIL-SPEC certification for product stability and reliability in naval vessel applications.
• PPS (Packaged Power System) Integrated power supply solution based on power conversion and control technology, providing optimized power for customer requirements with excellent mobility and stability. Includes 27MW containerized power systems for international projects.
• Low Harmonic Inverter Inverter system with low harmonics achieved through multilevel transformers, split/multi-technology for continued operation during single unit failure, and soft pump operation capability.
• Multipurpose Power Converter Versatile power converter supporting AC-DC, DC-AC, and DC-DC conversion modes with IGBT technology, rated capacity of 110kW and 50/60Hz frequency. Used in energy storage and power conversion applications.
• Alternative Maritime Power (AMP) System Container-type shore power supply system for ships compliant with IEEE 80005-1, IEEE 80005-3, IEC 62271-200 standards and major classification society approvals (DNV, BV), providing 6.6-11kV primary voltage to 450V secondary for ships at berth.
• LCL Filter Integrated Isolation Transformer Integrated transformer including LCL filter for suppressing transient voltages and harmonic currents in power conversion systems, with efficiency above 98%, built-in cooling, and IP44 enclosure rating for ship installation.
• Transformer for Load Bank Mobile substation facility transformers with VCB panel for stable power supply and transformer protection, available in container types up to 6MVA capacity for shipbuilding testing operations.
• Industrial Power Systems Land division products including photovoltaic systems, inverters, UPS, and power control panels for renewable energy and industrial applications.

Quantifiable outcome

• 27% reduction in transformer losses (from 364kW to 264kW) in high-efficiency 154kV transformers
• +3 more outcomes

Named customers18 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Eight partnerships are on record, tiered core.

• Samsung Heavy IndustriescoreStrategic or Co-development Partner · 1 July 2021Long-term strategic partnership for transformer supply to vessel construction. Major supply contract for transformers on 20 Evergreen 15,000TEU container ships plus shuttle tankers. Relationship based on proven quality track record and technical capabilities in marine transformer applications.
• Korea Electric Power Corporation (KEPCO)coreStrategic or Co-development Partner · 1 January 2020KEPCO Trusted Partner (KTP) certified supplier of 154kV extra high voltage transformers and distribution transformers. First SME to register 154kV transformers with KEPCO and one of only about 70 registered transformer suppliers.
• Korea Hydro & Nuclear Power (KHNP)coreStrategic or Co-development Partner · 1 January 2020Qualified supplier registration for transformers including 154kV class. Joint development of high-efficiency 154kV transformers for national energy reduction policy.
• HD Hyundai Heavy IndustriescoreStrategic or Co-development PartnerLoad bank transformer supply partnership for mobile substation facilities used in shipbuilding testing operations.
• HD Hyundai SamhocoreStrategic or Co-development PartnerLoad bank transformer supply partnership for vessel testing facilities at shipyard.
• Hanwha OceancoreStrategic or Co-development PartnerLoad bank transformer supply partnership for shipyard vessel testing operations.
• Daehan ShipbuildingcoreStrategic or Co-development PartnerLoad bank transformer supply partnership for shipbuilding operations.
• Five Korean Power Generation CompaniescoreStrategic or Co-development PartnerQualified supplier registration with all five power generation companies (Korea Hydro & Nuclear Power, Korea Southern Power, Korea East-West Power, Korea Western Power, Korea Midland Power) for transformer supply.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• ABB: Global leader in power and distribution transformers with comprehensive IEC/IEEE-certified product lines. Competes with KOC in 154kV-class transformers, marine electrical systems, and renewable energy interconnections worldwide.
• Eaton: Global power management company with significant presence in distribution transformers, UPS, and frequency conversion. Competes with KOC in industrial UPS, power conditioning, and renewable integration projects.
• Siemens Energy: Global transformer and grid technology provider with strong positions in HVDC, large power transformers, and offshore wind connections. Competes for major utility and offshore platform transformer contracts.
• LS Electric: Korean conglomerate offering a broad portfolio of transformers, switchgear, and power systems. Now the parent company of LS Power Solution; a major competitor in the broader electrical equipment market and the channel through which KOC's products are increasingly distributed.
• Schneider Electric: Major supplier of distribution transformers, switchgear, and UPS/power conversion systems. Overlaps with KOC in industrial UPS, switchboards, and power distribution segments across commercial and industrial customers.

Regional players

• Elsewedy Electric: Middle East and Africa-focused transformer and electrical equipment manufacturer. Comparable in product portfolio (transformers, switchgear, power systems) and customer mix (utilities, IPPs, industrial), with stronger regional dominance than KOC.

Direct peers

• Hyosung Heavy Industries: Korean manufacturer of power and distribution transformers with strong KEPCO relationships and growing presence in ultra-high voltage and renewable grid equipment. Direct competitor in the domestic 154kV market.
• TBEA: China's largest transformer manufacturer with strong ultra-high voltage transformer capabilities. Competes globally on price in 110kV-500kV transformer markets and increasingly in renewable interconnection projects where KOC also bids.
• HD Hyundai Electric: Korea's largest transformer manufacturer and direct competitor across power, distribution, and specialty transformers for both utility and marine applications. Closest domestic rival in 154kV and ship transformer segments.
• CG Power & Industrial Solutions: Indian transformer and power systems manufacturer with global reach in distribution transformers, power conversion, and industrial switchgear. Comparable product breadth and similar mid-tier positioning in international markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/KOC-Electric-Co-Ltd-102061654970781

Compliance26 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KOC Electric