LS Cable Asia Delivers First Submarine Cable to Vietnam

[Asia Economy Reporter Jeong Hyunjin] LS Cable Asia announced on the 23rd that its Vietnamese subsidiary, LS-Vina, will supply submarine cables for the offshore wind power plant project in Tan Phu Dong Province, southern Vietnam.

The customer is PCC1, a plant construction specialist company in Vietnam, and the contract amount is approximately 5 million USD (about 5.63 billion KRW), with delivery expected to be completed within this year. LS Cable Asia explained that submarine cables are electric wires installed underwater to transmit power or data, and there are no companies in Vietnam capable of producing submarine cables.

An LS Cable Asia official stated, "Vietnam plans to reach a total wind power capacity close to 10GW by 2030 and is expected to become the 5th largest market in Asia following China, Taiwan, Korea, and Japan," adding, "This order holds great significance as it lays the foundation for securing the Vietnamese offshore wind power market."

LS Cable Asia plans to expand the Vietnamese offshore wind power market based on the submarine cable production capabilities of its parent company LS Cable and its Chinese manufacturing subsidiary LS Hongqi Cable, as well as LS-Vina's Vietnamese network developed over about 25 years. LS Cable Asia's order backlog at the end of last year was 164 billion KRW, a 46% increase compared to the previous year.

This content was produced with the assistance of AI translation services.