Hanoi to Haiphong Marathon... Why Minister Kim Sung-hwan Visited Vietnam's 'LS VINA'

Visited LS Eco Energy Factory During Vietnam Trip
Assessing Global Power Infrastructure Competitiveness
LS Eco Energy Holds Top Market Share Locally

On April 22 (local time), Kim Sung-hwan, Minister of Climate, Energy and Environment, visited 'LS VINA,' the Vietnamese subsidiary of LS Eco Energy. This move is seen as an effort to assess LS Eco Energy's global competitiveness in the power infrastructure sector, as the company currently holds the top market share in Vietnam's extra-high voltage cable market.

According to industry sources on April 23, Minister Kim visited LS VINA, located in Haiphong, Vietnam, where he toured the factory and conducted an on-site technical inspection. Despite a grueling round trip of about five hours between Hanoi and Haiphong, Minister Kim made a point of visiting the site in person. After his visit to LS VINA, he attended the 'Korea-Vietnam Environment Ministers' Meeting' held in Hanoi.

Kim Sung-hwan, Minister of Climate, Energy and Environment, visited LS VINA, a manufacturer of power, industrial, and construction cables in Haiphong, Vietnam, on the 22nd (local time). He received explanations about key products and observed the production process. LS Cable.

He visited the site to encourage LS Eco Energy, which marks its 30th year in Vietnam, and to examine its global power infrastructure competitiveness. Vietnam is currently experiencing a rapid surge in electricity demand, with an economic growth rate of 6-7% annually.

Minister Kim stated, "LS VINA entered Vietnam 30 years ago, creating 530 local jobs and combining our outstanding technological capabilities with Vietnam's abundant human resources to produce competitive products for the global market. This is an exemplary case of cooperation between the two countries." He added, "The government will also actively support the K-Power industry so that it can grow significantly as an export industry."

Kim Sung-Hwan, Minister of Climate, Energy and Environment, visited LS VINA, a company producing power, industrial, and construction cables in Hai Phong, Vietnam, on the 22nd (local time). He received explanations about key products and observed the production process. LS Cable.

It was reported that, during the on-site visit, questions focused on submarine cable installation and the industry's transition toward direct current (DC) systems. LS Eco Energy is the only company in Vietnam capable of producing extra-high voltage cables at the 230kV level, holding the number one position in the local market and commanding an 80% share of the extra-high voltage cable segment. Last year, exports to the United States and Europe surged, contributing to LS Eco Energy's record-breaking performance. Since its establishment, the subsidiary's sales have grown from 6 billion won to the current level of 1 trillion won.

In particular, as power demand generated by artificial intelligence (AI) continues to soar, global competition for securing energy, such as submarine cables and DC conversion, is intensifying. Supplying large-scale electricity to data centers requires newly designed power networks, including submarine cables and high-voltage direct current (HVDC) transmission. As a result, power companies are actively investing in these areas. LS Cable, the parent company of LS Eco Energy, is also expanding its production capacity for submarine cables and HVDC systems.

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