LS C&S has recently announced the construction completion of its Submarine Cable Unit 4 in Donghae, Gangwon Province.
It is the only HVDC submarine cable factory in Korea and the largest of its kind in Asia.
The construction began in July 2021 with a budget of approximately KRW 190 billion. The factory unit was completed with an ultra-high-rise manufacturing tower (VCV tower: Vertical Continuous Vulcunizer) standing at 172 m tall with a floor area of 34,816 ㎡ (approx. 10,532 pyeong).
A company spokesperson stated, “HVDC projects worth trillions of won are moving forward, mostly in Europe due to carbon neutrality policies,” and continued, “We have been preparing to expand our businesses through pre-emptive investments such as factory expansion and the acquisition of KT Submarine.”
LS C&S built the first submarine cable in Korea in the city of Donghae in 2008 and has since invested approximately KRW 700 billion to continue improving its submarine cable business capabilities. In addition, the company has recently acquired a stake in KT Submarine, which stoked anticipation that the company will expand its cable supply business and its cable construction business.
LS C&S CEO Bon-kyu Koo stated, “This completion of the HVDC factory will be an accelerant for our growth at the dawn of the era of energy transition and the surge in the electric power industry.” He added, “We will contribute to the advancement of the electric power industry through the construction of efficient energy networks and the enhancement of national competitiveness.”
Meanwhile, over 100 key figures, including LS Group Chairman Ja-eun Koo, LS Corp. CEO Roe-hyun Myung, and LS C&S CEO Bon-kyu Koo, attended the completion ceremony.
Image source: Courtesy of LS Cable & System
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