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IEC Signs MOU with G2Power for Joint Collaboration in Solar and BESS S…

2026-07-23

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International Electric Signs MOU with G2Power for Joint Collaboration in Solar and BESS Sectors


International Electric Co., Ltd. (CEO Sunho Kim) announced on March 6 that it has signed a memorandum of understanding (MOU) with G2Power Co., Ltd. (CEO Youngil Kim) to pursue work collaboration focused on seeking joint business opportunities in the domestic and overseas energy and power distribution sectors.


The purpose of this MOU is for the two companies to share their capabilities, develop concrete cooperation measures, and create synergy. Through the agreement, the companies have decided to expand collaboration in various fields, including: ▲ joint cooperation on overseas solar and BESS (Battery Energy Storage System) projects ▲ partnership in the domestic power distribution panel and distribution system business ▲ joint research and technology exchange on solar and BESS-related core technologies ▲ joint cooperation on overseas renewable energy projects ▲ and cooperation in other mutually necessary areas.


International Electric Co., Ltd. was established on October 26, 1946, as the nation's first specialized transformer manufacturer under the name "International Transformer Workshop." The company has grown by independently developing its own technologies. It supplies a wide range of power equipment, such as distribution transformers, railway transformers, and UPS, and its product quality has been recognized through continuous deliveries to domestic and overseas power generation companies and railway organizations, including Korea Hydro & Nuclear Power and Korea Electric Power Corporation.


Recently, the company has expanded its business scope to North American power generation companies, AI data centers, and the renewable energy sector, thereby strengthening its position in the global market. On the back of these achievements, last year's sales reached KRW 142.5 billion, up about 60% from the previous year, and operating profit also increased by about 57%. In addition, the export share remained at a similar level to the previous year, accounting for approximately 70% of total sales.


Sunho Kim, CEO of International Electric Co., Ltd., stated, "Through this agreement, we aim to achieve tangible joint results in domestic and overseas renewable energy projects centered on solar and BESS, and to further strengthen our global market competitiveness based on technical collaboration. We will continue to drive sustainable growth based on this foundation."

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