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I wanted to talk about what is happening with this issue and what I'm doing to resolve it.

I have an SV-1 88 that doesn't work because of a power issue. I've swapped power cables and outlets to ensure it wasn't one of those and the next step was opening it up.

There are two fuses I checked next, one on the board in the middle (easy to see) and one on the power board that can only be seen once it is removed from the frame. Both were intact.

Using a multimeter, it was determined that the power transformer chip (MORNSUN LD01-10B05) is faulty.

I've ordered a new one (about $12) that will have to be soldered onto the power board. On the back of the power board, I noticed some solder spatter, so this board had probably had a problem previously. I hope this fixes the problem.

Good luck with the repair.

Out of interest, on which board in the SV-1 is the LD01-10B05 located?
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I had the same issue with no power on my SV-1. I opened it up to investigate and the same component as LondonerSteve had blown on the power filter circuit board - the Mornsun LD01-10B05 240Vac to 5Vdc converter.
Symptoms of this are no lights on front panel, no sound, no reaction to power switch - dead!
As well as the 2 fuses you mentioned there is a third which sits just in front of the LD01-10B05 and this had blown too. I replaced both components and all is good.
Looking at the circuit, the converter will be powered continuously the whole time that the power lead is connected, regardless of the power-switch. I do leave the SV-1 plugged in but even so, the specification of the LD01-10B05 shows a MTBF (mean time between failure) of 300,000h which is ~34years continuous operation which obviously I'm nowhere near.
I'm in the UK and found the parts in RS:
RS PRO Switching Power Supply, 5V dc, 200mA, 1W, 1 Output
Stock no.:771-9388P
Wickmann Leaded PCB Mount Fuse, Radial 500mA, 250V ac
Stock no.:226-0591
This came to £23 including £7 for delivery
Hope this is of use to somebody

Good evening. I am very interested in this post because I have the complete opposite problem. I have a SV1 in for repair and it is permantly powered up all the time the mains plug is in. The power toggle switch neither turns it on or off. The unit shown in the picture is referenced in the service manual as the Line and AC Filter and has a board number of KIP2***, indicating that there are numerous versions. My version is exactly as that shown - and it has a board number of KIP2203-3. The service manual, I have the latest, does not give any detail of the circuit of this board. It looks quite complex and I would try to purchase a new board but Korg cannot supply unless they have the reference number of the board - apparently KIP2203-3 is not adequate. What I am asking is, has anyone got a circuit diagram for the KIP2203-3 or a KORG refeence numberor does anybody know of another piano this oard is fitted in so I can get that service manual.
Looking forward to some much appreciated help.
Mervyn