{
  "id": 12537405,
  "title": "LS Electric teams up with Formosa Plastics affiliates for Taiwan expansion",
  "url": "https://urgent.news/2026/10/07/ls-electric-teams-up-with-formosa-plastics-affiliates-for-taiwan",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-07T03:52:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/business/companies/20261007/ls-electric-teams-up-with-formosa-plastics-affiliates-for-taiwan-expansion"
  },
  "original_language": "en",
  "account": "LS Electric has announced plans to form a joint venture with two affiliates of Taiwan's Formosa Plastics Group in order to secure power infrastructure projects in the country. The agreement, signed on Tuesday at LS Yongsan Tower in Seoul, will see LS Electric holding a 50% stake in the new venture, with Nan Ya Plastics and KHI each contributing 40% and 10% respectively. Nan Ya Plastics, a key Formosa affiliate, specializes in petrochemicals, electronic materials, and electronics, and has been expanding its power solutions business by transitioning from distribution products to extra-high-voltage transmission equipment and grid stabilization. KHI, established last year with Formosa investment, aims to commercialize technologies developed at the Korea Advanced Institute of Science and Technology. The joint venture will initially focus on building local capabilities for handling Taiwanese power projects, combining LS Electric's manufacturing expertise with the affiliates' technological knowledge.",
  "summary": "LS Electric said Wednesday it will set up a joint venture with two affiliates of Taiwan's Formosa Plastics Group to win power infrastructure projects in Taiwan, expanding beyond its current business of supplying electrical equipment there. The Korean maker of power equipment and automation systems signed the agreement Tuesday with Nan Ya Plastics and KHI at LS Yongsan Tower in Seoul. LS Electric…",
  "key_points": [
    "LS Electric and Formosa Plastics affiliates form joint venture in Taiwan.",
    "Nan Ya Plastics and KHI each contribute 40% and 10% to the venture.",
    "Joint venture focuses on power infrastructure projects for Taiwan."
  ],
  "editors_take": "The partnership enables LS Electric to tap into Taiwan's power infrastructure market by leveraging local expertise from Formosa Plastics affiliates, while expanding its presence in a new region.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Korea Times",
        "title": "LS Electric teams up with Formosa Plastics affiliates for Taiwan expansion",
        "url": "https://urgent.news/2026/10/07/ls-electric-teams-up-with-formosa-plastics-affiliates-for-taiwan-12540710",
        "published": "2026-10-07T04:12:03.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}