Photograph 1) View of Submarine Cable Unit 4 and the VCV tower at the LC C&S Donghae Factory, completed on May 2
Photograph 2) LS Group Chairman Ja-eun Koo (6th from left), LS Corp. CEO Roe-hyun Myung (7th from left), and LS C&S CEO Bon-kyu Koo (5th from left) celebrating at the HVDC Submarine Cable Factory Completion Ceremony for LS C&S
■ Completion ceremony for Submarine Cable Unit 4 held at Donghae Factory on May 2
■ Only HVDC submarine cable factory in Korea and largest HVDC submarine cable factory in Asia
■ Enhancement of submarine cable business capabilities with factory expansion and acquisition of KT Submarine
LS C&S announced on May 2 that the company has completed the construction of Submarine Cable Unit 4 in Donghae, Gangwon Province.
It is the only HVDC submarine cable factory in Korea and the largest of its kind in Asia.
The construction began in July 2021 with a budget of approximately KRW 190 billion. The factory unit was completed with an ultra-high-rise manufacturing tower (VCV tower: Vertical Continuous Vulcunizer) standing at 172 m tall with a floor area of 34,816 ㎡ (approx. 10,532 pyeong).
A company spokesperson stated, “HVDC projects worth trillions of won are moving forward, mostly in Europe due to carbon neutrality policies,” and continued, “We have been preparing to expand our businesses through pre-emptive investments such as factory expansion and the acquisition of KT Submarine.”
LS C&S built the first submarine cable in Korea in the city of Donghae back in 2008, and has since invested approximately KRW 700 billion to continue improving its submarine cable business capabilities. In addition, the company has recently acquired a stake in KT Submarine, which stoked anticipation that the company will not only expand its cable supply business but also its cable construction business.
LS C&S CEO Bon-kyu Koo stated, “This completion of the HVDC factory will be an accelerant for our growth at the dawn of the era of energy transition and the surge in the electric power industry.” He added, “We will contribute to the advancement of the electric power industry through the construction of efficient energy networks and the enhancement of national competitiveness.”
Meanwhile, over 100 key figures including LS Group Chairman Ja-eun Koo, LS Corp. CEO Roe-hyun Myung, and LS C&S CEO Bon-kyu Koo attended the completion ceremony.