(사진= LS Cable & System 제공)

LS Cable & System recently acquired a 16% stake in KT Submarine, an undersea construction company, to secure competitiveness in the global offshore wind power market.

According to the industry on the 9th, LS Cable & System is expected to become the largest shareholder of KT Submarine by exercising call options this year. In line with the rapid growth of the submarine cable market, it has preemptively secured business capabilities.

In particular, LS Cable expects to enhance its order competitiveness in overseas businesses by combining submarine cable manufacturing capabilities with KTS's construction engineering technology and ship operation capabilities.

With the implementation of carbon neutral policies in full swing around the world, LS Cable & System has won a total of 1.2 trillion won in large-scale orders from North America, Europe and Asia this year.

Recently, LS Cable & System signed a contract to supply HVDC cables worth a total of 640 billion won to two offshore wind farms in Norfolk, North Sea, UK. It is the largest contract ever won by a domestic cable company in Europe. 

 

Earlier this year, it signed a contract to supply submarine cables for offshore wind power worth 350 billion won in North America, and Taiwan has secured a total of 800 billion won worth of submarine cables over the past three years.

 

 

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