LS Marine Solution Establishes Sales Base in Taiwan... Full-Scale Entry into Underwater Business

First Overseas Base for Domestic Undersea Construction Company
Securing Approximately 2.5 Trillion Won Market

LS Marine Solution announced on the 4th that it has established a sales base in Taipei, Taiwan. It is the first overseas base among domestic underwater construction companies.

With the establishment of the base, LS Marine Solution is laying the foundation to secure underwater construction projects estimated at about 2.5 trillion KRW. In addition, it plans to build a sales network in cooperation with LS Cable & System, strengthen marketing targeting customers, and discover partner companies.

LS Marine Solution subsea cable laying vessel GL2030.
[Photo by LS Marine Solution]

Taiwan plans to complete a 5.5GW wind power complex by 2025 and add an additional 15GW by 2035. This scale is equivalent to about 20 nuclear power plants of 1GW each. The industry expects that orders for underwater cable materials and construction projects, estimated to reach a total of 4.5 trillion KRW, will begin in earnest from the end of this year.

Since 2018, LS Cable & System has secured all supply rights for ultra-high voltage underwater cables ordered in Taiwan, worth about 1 trillion KRW. LS Marine Solution also has expertise in underwater construction, including important climate, current, and geological surveys, having constructed a 22km underwater cable between Penghu Island in the Taiwan Strait and the mainland in 2017.

The company stated, "We expect that turnkey orders for cable materials and construction projects will be possible through a consortium with LS Cable & System."

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