Photograph 1) LS Marine Solution’s cable laying vessel GL2030

Photograph 2) LS Marine Solutions CI

■ Integrating submarine and underground cable construction capabilities, and enhancing expertise and efficiency
■ Securing global competitiveness through vertical integration of cable construction business
■ It is expected that responsible management will be strengthened and competitiveness in winning large-scale projects will be enhanced.


LS Marine Solution plans to strengthen its expertise in cable construction business by incorporating LS Buildwin as a subsidiary and solidify responsible management by appointing Koo Bon-kyu as CEO.

LS Marine Solution announced that it held a board meeting on the 19th and decided on the agenda of ‘capital increase through third-party allocation and acquisition of LS Buildwin stocks’ targeting LS Cable & System.

Also, Koo Bon-kyu, President & CEO of LS Cable & System, was appointed as an internal director of LS Marine Solution on this day. Mr. Koo is scheduled to be officially inaugurated as CEO after the general shareholders’ meeting and board of directors meeting in October.

According to this resolution, LS Marine Solution will acquire 100% of LS Buildwin stocks held by LS Cable & System through contribution in kind. LS Buildwin is a company that focuses on underground cable construction, and LS Marine Solution will now have the capabilities to construct both submarine and underground cables.

The company said, “Through vertical integration, we have secured various benefits such as strengthening expertise and efficiency, reducing costs, maintaining consistent quality, and shortening construction periods.”

In addition, we expect to be able to provide one-stop solutions to customers through integrated management of construction projects and further strengthen our competitive edge in the global market.

In particular, since submarine and underground cable projects among large-scale offshore wind power projects in Europe are mainly conducted through turnkey bidding, this restructuring is expected to contribute to enhancing competitiveness in winning orders.

“This decision will significantly contribute to the long-term growth of LS Marine Solution and strengthening of its global competitiveness,” said the company. “In particular, this is the first time that Mr. Koo will concurrently serve as the CEO of a subsidiary, and it contains a strong will to strengthen responsible management.”