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LS Cable & System announced on Oct. 20 that it has won a cable contract valued at approximately $166 million to supply the Boreas wind farm in the North Sea of the U.K., the largest ever order from Europe received by a South Korean cable company.

Per the announcement, the Boreas offshore wind farm is being developed by Sweden’s state-owned power company Vattenfall, near Norfolk in the United Kingdom. When completed in 2026, it will produce about 1.3 GW of electric power, equivalent to one nuclear power plant.

LS Cable & System will supply 320 kV ultra-high voltage direct current (HVDC) submarine and underground cables for the wind farm. It will mark the company’s first supply of HVDC cables that use cross-linked polyethylene (XLPE) as an insulating material.

XLPE cables are becoming the mainstream in renewable energy projects in Europe and North America due to their convenient installation and connection and easy maintenance. However, so far, only a few companies have succeeded in developing them. The latest order is expected to help LS Cable & System accelerate its penetration of the XLPE cable market. The company plans to expedite its market expansion in Europe as well as North America and Asia where demand for XLPE cables is growing rapidly.

6/2/2022 -

LS Cable & System USA, part of South Korea’s LS Cable & System, plans a $26.9 million investment to expand its plant in Tarboro, North Carolina.

The announcement said that the company’s campus in Edgecombe County will be expanded over a three-year period. The investment will increase the current manufacturing capacity and add an additional 86 employees to the current staff of 188, said Bobby Piner, the plant’s manager of manufacturing. “This expansion will allow (us) to meet the current and growing needs of our customer base while providing job growth opportunities for our team members in Tarboro.”

LS Cable & System USA designs, manufactures and distributes an array of cable products for the rapidly growing energy sector within commercial, industrial, renewable and utility markets. The Tarboro plant, which makes low- and medium- voltage cables, opened in 2012.

4/3/2022 - Earlier this year, LS Group’s cable manufacturing unit, LS Cable & System (LSCS), officially opened its new power cable plant in Indonesia, a joint venture.

A press release said that the new plant, called LSAGI, is a joint venture between LSCS and Artha Graha Network, Indonesia’s 10th-largest conglomerate. The Korean firm owns a 75% stake in the entity.

The plant, located on a 64,000-square-meter site in the Artha Industrial Complex near Jakarta, will mainly produce overhead wires for power transmission and distribution and low-voltage cables for buildings and plants.

LSCS said it aims to expand its presence in the Southeast Asian country by taking advantage of its local partnership business experience and sales networks ranging from banks to hotels. “In the cable industry, each country is strengthening policies to protect its own companies,” an LS official said. “We will pursue different strategies for different markets to better meet the local demands.”

The firm also expected a quick recovery of the pandemic-hit cable market, citing Indonesia’s planned relocation of its capital from Jakarta to a jungled area of Kalimantan on Borneo island, which involves a $32 billion mega development project. LSCS now operates a total of 12 production facilities around the world, including in the U.S., Poland, Vietnam and China.

4/1/2022 - Earlier this year, LS Group’s cable manufacturing unit, LS Cable & System (LSCS), officially opened its new power cable plant in Indonesia, a joint venture.

A press release said that the new plant, called LSAGI, is a joint venture between LSCS and Artha Graha Network, Indonesia’s 10th-largest conglomerate. The Korean firm owns a 75% stake in the entity.

The plant, located on a 64,000-square-meter site in the Artha Industrial Complex near Jakarta, will mainly produce overhead wires for power transmission and distribution and low-voltage cables for buildings and plants.

LSCS said it aims to expand its presence in the Southeast Asian country by taking advantage of its local partnership business experience and sales networks ranging from banks to hotels. “In the cable industry, each country is strengthening policies to protect its own companies,” an LS official said. “We will pursue different strategies for different markets to better meet the local demands.”

The firm also expected a quick recovery of the pandemic-hit cable market, citing Indonesia’s planned relocation of its capital from Jakarta to a jungled area of Kalimantan on Borneo island, which involves a $32 billion mega development project. LSCS now operates a total of 12 production facilities around the world, including in the U.S., Poland, Vietnam and China.

 

8/3/21  LS Cable & System (LSC&S) President & CEO Myung Roe-Hyun announced that the South Korean company will expand its submarine cable capacity at its campus in Donghae City, Gangwon-do.

A press release said that LSC&S will build an additional submarine cable plant in Building No. 2 of the Donghae City campus, which is in the Gangwon Province. The site now has three plants. The fourth plant will feature the tallest power cable production tower in South Korea. When completed, the vertical continuous extraction system (VCV) tower will be as tall as a 63-story apartment, the tallest structure in Donghae City. Construction will start this October and is expected to be completed by the end of April 2023. The project, which will cost more than $161 million, will increase LSC&S’s submarine cable production capacity more than 1.5 times. The 172-m-tall VCV Tower is designed to improve cable insulation quality and increase productivity.

LS Cable & System built Korea’s first submarine cable plant in Donghae City in 2008, and has invested about US$296 million to date. The existing plant, which has a total floor area of 84,000 sq m, when have an additional 31,000 sq m.

 “As countries around the world are increasing investments in renewable energy to become carbon neutral, the submarine cable market is also growing,” said Myung Roe-Hyun, President & CEO of LS Cable & System. “We will contribute to the national economy by expanding domestic investments.”

4/5/2021: South Korea’s LS Cable & System (LC&S) announced that it will be the sole supplier of magnet wire for the drive motors (enamel wire) of the Hyundai IONIQ 5 and Kia EV6 electric vehicles.

A press release said that LC&S is the first South Korean company to mass-produce magnet wires that can be used at 800 V. Sales are estimated to reach more than KRW200 billion within 6 years. It noted that the company succeeded in using a high-performance insulation material to develop a high-voltage magnet wire with improved efficiency.

As the charging speed competition is intensifying in the electric vehicle industry, development of high-voltage parts supporting this is becoming more important. “We expect that this supply will provide us with an opportunity to preempt the high-voltage electric vehicle wire market, which is still in its early stage,” the release said.

LC&S projects that global demand for environmentally friendly automotive magnet wire market will grow more than six-fold by 2025. It is responding by reinforcing its marketing efforts and increasing investments with regard to global automakers. “The drive motor and the battery are important enough to be called the two hearts of an electric vehicle,” said LC&S President & CEO Myung Roe-Hyun. “We are certain that the wires and parts business, which serves as the blood vessels of the heart, will also grow rapidly, so we are fostering them as new growth engines.”
Since 2016, LC&S has been supplying GM with the magnet wire (400V) for the drive motors of the Chevrolet Bolt EV. It is also discussing development of HV magnet wires that will be used by all EVs produced by GM.

LS Cable & System has inked a five-year contract with Danish energy firm Orsted to supply high-voltage export cables for offshore wind farms.

A press release said that the exact size of the deal is unknown, but media reports estimated that it could be worth hundreds of millions of dollars. LS Cable & System has participated in multiple offshore wind projects with Orsted. It previously supplied cables to the world’s largest offshore wind farm, Hornsea One and Two, in England, and it will supply subsea cables for the Greater Changhua 1 & 2a offshore wind farms in Taiwan.

Orsted is set to build a 1.6-GW offshore wind farm project in the waters off Incheon, South Korea, which Orsted Asia-Pacific President Matthias Bausenwein said would offer massive opportunities for local suppliers. The offshore wind farm will be installed with 100-140 wind turbines and be able to generate electricity for 1.3 million households annually. The project supports Korea’s Green New Deal initiative, which aims to put up 12 GW of offshore wind power capacity by 2030.

“The trend of investing in renewable energy will continue, even during the current Covid-19 situation,” said Myung Roe-hyun, president and CEO of LS Cable & System. “We are delighted to continue this cooperation with the leading company in offshore wind energy.”

LS Cable & System (LS C&S) has won a government contract that was valued at approximately $82 million to supply both low-voltage and high-voltage power cable to Singapore.

A press release said that LS C&S will supply 400 km of cable though to 2021.The orders were from the Singaporean government, which has been replacing aged cables since 2017. LS C&S noted that has a strong foothold in Singapore, obtaining the biggest market share there. Raising transparency in operation and management of its business there, and active technological support for the past several years, led to winning the deal, it said.

“To overcome the global economic slowdown and the limited domestic demand, we have established a strong foothold overseas as a global company,” LS C&S President and CEO Myung Roe-hyun said. “This deal is a valuable achievement based on past efforts at a difficult time due to the Covid-19 crisis.”
In other news, LS C&S reported that it has begun to ship submarine cable for Taiwan’s offshore wind farms. Last year, it won an order to supply the high-voltage cable for the first offshore wind farm project being built in Taiwan. Some 70 km of cables will need to be installed for the site, which is located off the coast of Yunlin Xian in the west of Taiwan.

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