LS Cable & System Announces Future Strategies for Subsea Cable and IDC Solutions at Value-Up Day

Koo Bon-gyu, CEO of LS Cable & System, is delivering a welcome speech at the "Value-up Day" event held at the FKI Tower in Yeouido, Seoul, on September 5. / Courtesy of LS Cable & System

At the "Value-up Day" event held on September 5 at the FKI Tower in Yeouido, Seoul, LS Cable & System presented its growth strategies for the subsea cable and IDC (data center) solutions businesses, aiming for 10 trillion won in revenue by 2030.

The event included key executives from LS Cable & System and representatives from major subsidiaries such as LS Eco Energy, LS Marine Solutions, and LS Materials, who discussed the competitive strengths and growth strategies of their core businesses.

In the first session, Ko Ui-kon, head of LS Cable’s Global Offshore Sales division, and Koo Young-hun, CEO of LS Marine Solutions, emphasized the global competitiveness of their subsea business and showcased the company's strong market position. LS Cable plans to further enhance this advantage through advanced technology and strong partnerships with top-tier global offshore wind supply chain companies.

With the global expansion of long-distance power networks and offshore wind farm projects, the demand for HVDC (High Voltage Direct Current) cables is surging. Currently, LS Cable is one of only six suppliers worldwide, including companies in Europe and Japan, and plans to capitalize on this opportunity to expand its market dominance.

LS Cable has confirmed plans to build a factory in the United States and is considering localization strategies in the UK and Vietnam. The U.S. factory is slated for completion in 2027, with a goal of achieving cumulative sales of 1 trillion won by 2030, making it the largest submarine cable supplier in the U.S.

Koo Bon-kyu, CEO of LS Cable & System, stated, “We will collaborate with LS Eco Energy to build factories in Europe, Asia, and the Americas, completing our global portfolio, and with LS Marine Solutions to offer a turnkey solution covering cable supply, installation, and maintenance, thereby completing our business portfolio.”

With these efforts, LS Cable & System plans to achieve 10 trillion won in sales by 2030 and solidify its leading position in the global market.

LS Marine Solutions, alongside its subsidiary LS Buildwin, aims to become a comprehensive contractor for submarine and underground cable projects. It plans to diversify its business through new shipbuilding, offshore wind services, and further expand into overseas markets with LS Cable.

In the second session, Vice President Shin Young-sik of LS Cable & System and CEO Hong Young-ho of LS Materials presented their vision titled “New Opportunities, IDC Solutions.”

LS Cable is proactively preparing for the AI Data Center (AIDC) era with its superconducting cable systems and bus ducts, while LS Materials focuses on ultra-capacitors (UC). The company plans to strengthen its position in the IDC market through collaborations with major global AI companies.

LS Materials aims to support the growing electricity demand and stabilize the renewable energy supply chain with its next-generation secondary battery, UC, while focusing on supplying aluminum materials essential for electric vehicle lightweighting.

LS Cable's world-first commercialized superconducting cable is an innovative technology that does not generate electromagnetic waves and increases power supply without the need for additional urban substations, making it crucial for the AIDC era.

LS Eco Energy is supplying bus ducts and communication cables to IDCs in Vietnam and is working with the Vietnam Electricity research institute to commercialize superconducting cables.

Additionally, LS Cable is enhancing its global competitiveness by reorganizing its business structure, integrating LS Buildwin into LS Marine Solutions for construction solutions and restructuring G&P into Gaon Cable.

* Source : https://www.koreaittimes.com/news/articleView.html?idxno=134348