KT Submarine Signs Contract to Participate in Jeju-Wando Submarine Cable Project

LS Cable & System Collaborates... Participates in Cable Undersea Installation and Laying

[Asia Economy Reporter Moon Chaeseok] KT Submarine announced on the 21st that it has signed a contract to participate in the LS Cable Jeju 3-connection submarine cable construction project.

They will participate in the submarine cable project connecting Jeju Island and Wando, Jeollanam-do, spanning approximately 90 km. KTS is responsible for laying the cable on the seabed.

KTS expects the contract to be a starting point for expanding the submarine communication cable business to the higher value-added power cable sector.

KT Submarine Undersea Cable Laying Ship. [Photo by KT Submarine]

Earlier this month, KTS acquired the only domestic power cable laying vessel. Through this, they have established the foundation necessary to expand the business.

LS Cable holds a 16.2% stake in KTS. If they exercise the call option between April and July, they will become the largest shareholder.

Lee Seung-yong, CEO of KTS, stated, "We will actively participate in offshore wind farm construction and island area submarine connection projects both domestically and internationally in cooperation with LS Cable."

Previously, KTS disclosed on the 16th that its sales last year amounted to approximately 42.8 billion KRW, an increase of about 43.2% compared to the previous year.

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