LS Electric Co. has become the first South Korean company to launch an ultra-high-efficiency motor targeting the 25 trillion won ($18.4 billion) global industrial motor market, the company said Monday.

The new motor meets the IE5 classification, the highest grade in the International Efficiency standards set by the International Electrotechnical Commission.

Electric motors convert electricity into mechanical energy and are used to power automated factory equipment and manufacturing machinery.

The IE5 segment has traditionally been dominated by global giants such as ABB and Siemens.

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