LS

■ Selected as the signal system contractor for the underground railway project in the Taoyuan region;

■ Cumulative orders to surpass KRW 400 billion in the local railway projects since the company first entered the Taiwan market in 2013;

■ Market expansion in earnest by highlighting business reliability in Southeast Asia, including Taiwan?
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LS ELECTRIC is accelerating its efforts to secure leadership in the local market by successfully winning an order to widen the railway signal system project in Taoyuan, following the supply of a Taiwan urban railway power system worth KRW 270 billion in October last year.

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On January 27, LS ELECTRIC announced that it has recently been selected as a contractor to build a railway signal system between Puxin Station and Yingge Station in Taoyuan, which was recently ordered by the Railway Bureau of the Ministry of Transportation in Taiwan at a cost of KRW 49 billion.

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The project builds a temporary 24-km track in the section between Puxin Station and Yingge Station according to the underground plan for widening the railway in the Taoyuan region, where Taiwan’s largest international airport is located.

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LS ELECTRIC was the first South Korean company to enter the Taiwanese railway business in 2013, and has been recognized for its high reliability and capability by winning orders from open competitive bidding and executing projects stably in markets where major European and Japanese global companies had once been dominating.

The company’s first project in Taiwan was a signal system construction project for a general railway section in Taitung in 2013. A depot followed it in Taitung in 2015, a temporary track in Tainan in 2019, the red line power system for the urban railway in Kaohsiung in 2021, and the yellow line power system for the urban railway in Kaohsiung in 2022. As a result of its track record of winning orders, the cumulative worth of local orders has exceeded KRW 400 billion.

An LS ELECTRIC official said, "Although the Taiwanese railway market had high entry barriers centered on major global companies, we have received steady orders as we are recognized for our technological prowess and reliability. Since Taiwan plans to continue to upgrade its existing railway infrastructure and construct new urban railways, the market is expected to grow sharply. We intend to implement a thorough localization strategy and utilize it as our foothold in the Southeast Asia market."