[Special Stock] LS Cable Asia Rises 22% on Entry into Vietnam Subsea Project
LS Cable Asia is showing strength after signing a Memorandum of Understanding (MOU) for business cooperation with a Vietnamese state-owned oil and gas company to enter the Vietnamese submarine cable business.
As of 2:12 PM on the 13th, LS Cable Asia was trading at 11,220 KRW, up 21.96% compared to the previous closing price.
The day before, LS Cable Asia signed an MOU for submarine cable business cooperation with Vietnam PTSC (PetroVietnam Technical Services Corporation). PTSC is a subsidiary of PetroVietnam that provides services in oil, gas, and energy sectors, including extraction, port operations, and installation and operation of wind power facilities.
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LS Cable Asia and PTSC plan to explore submarine cable business opportunities starting in Vietnam and expanding to ASEAN countries.
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