LS Cable & System Expands Gangwon Donghae 5th Submarine Cable Factory with 100 Billion KRW Investment

New Construction of Haejeo 5-dong... HVDC Production Quadrupled
"Leading the Global Market with Marine Solution and Eco Energy"

LS Cable & System announced on the 3rd that it has signed an investment agreement with Gangwon Special Self-Governing Province and Donghae City to invest an additional approximately 100 billion KRW to expand its submarine cable factory in Donghae, Gangwon Province.

On the 3rd, at the 'LS Cable Factory Expansion Investment Agreement Ceremony' held at Gangwon Provincial Government in Gangwon-do, officials are taking a commemorative photo. From the third person on the left: Kim Jin-tae, Governor of Gangwon-do; Koo Bon-gyu, CEO of LS Cable; Shim Gyu-eon, Mayor of Donghae; Lee Sang-ho, CEO of LS Eco Energy; Kim Won-bae, Head of LS Cable Submarine Production Division.
[Photo by LS Cable]

The investment will be used to construct five submarine cable buildings with a total floor area of 19,451㎡ (5,883 pyeong).

LS Cable & System explained that once the five buildings are completed in the second half of next year, the production capacity of high-voltage direct current (HVDC) cables will increase to about four times the current level.

This expansion is an additional investment made less than a year after deciding to invest 155.5 billion KRW in the expansion of four submarine cable buildings in August last year.

In May last year, LS Cable & System completed the construction of Building 4, the only domestic and Asia's largest dedicated HVDC cable factory.

HVDC allows large-capacity current to be transmitted over long distances with low loss compared to AC (alternating current), and its adoption is increasing mainly in long-distance transmission networks. HVDC cables are also used in renewable energy sources such as offshore wind and solar power.

The company stated, "Globally, the HVDC market is continuously growing, centered on Europe and the United States, due to 'energy security' and the expansion of renewable energy driven by carbon neutrality," adding, "We will secure the market through domestic and overseas investment expansion."

LS Cable & System is recently working to expand the market in cooperation with its subsidiaries, including the construction of a factory in the United States, investment in LS Marine Solutions facilities, and promotion of LS Eco Energy's business in Europe and Asia.

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