Photograph 1) Koo Bon-kyu, CEO of LS Cable & System, gives a welcoming speech at the Value-Up Day event held on the 5th at FKI Tower in Yeouido, Seoul.



Photograph 2) Attendees at the Value-Up Day event held on the 5th at FKI Tower in Yeouido, Seoul, including CEO Koo Bon-kyu (second left), participate in a Q&A session.



Photograph 3) Attendees at the Value-Up Day event held on the 5th at FKI Tower in Yeouido, Seoul, take part in a Q&A session. (From left) Ko Eui-gon, head of the Global Submarine cable Sales Division of LS Cable & System, Koo Bon-kyu, CEO of LS Cable & System, Shin Young-shik, vice president of LS Cable & System, and Hong Young-ho, CEO of LS Materials.


■ To strengthen competitive edge in submarine business sector by expanding regional and business portfolios
■ Full-fledged IDC solution business to lead AI data center market
■ To strengthen global competitiveness through business restructuring


LS Cable & System held a Value-Up Day event at FKI Tower in Yeouido, Seoul, on the 5th, where it announced growth strategies for its submarine cable and IDC (data center) solution business.
 
The company announced the competitiveness and growth strategies of its core businesses at this event, which was attended by key executives of LS Cable & System and representatives of major subsidiaries such as LS Eco Energy, LS Marine Solution and LS Materials.
 
In the first session, Ko Eui-gon, head of the Global Submarine cable Sales Division of LS Cable & System, and Koo Young-heon, CEO of LS Marine Solution, emphasized the ‘global competitiveness of the submarine cable business’ and introduced the company’s strong market advantage.
 
LS Cable & System plans to further strengthen this market advantage based on its outstanding technological prowess and close partnerships with global top-tier companies in the offshore wind power value chain.
 
While the demand for HVDC (high voltage direct current) cables is rapidly increasing due to the expansion of long-distance power grids and offshore wind farm construction projects worldwide, there are only six suppliers, all of them except for LS Cable & System located in Europe or Japan. LS Cable & System plans to use this opportunity to increase its market dominance.
 
LS Cable & System recently finalized its plan to build a plant in the U.S. and is also reviewing localization strategies for the U.K. and Vietnam. The company aims to complete its U.S. plant by 2027 and hopes to achieve cumulative sales of KRW 1 trillion by 2030, which would make it the largest submarine cable supplier in the U.S.
 
Koo Bon-kyu, CEO of LS Cable & System, said, “We will work with LS Eco Energy to complete our regional portfolios around the world by building factories in Europe, Asia, and the Americas, and also cooperate with LS Marine Solution to complete our business portfolio with turnkey solutions covering everything from the supply of cables to their construction and maintenance.”
 
LS Cable & System aims to achieve sales of KRW 10 trillion by 2030 and plans to further solidify its leading position in the global market.
 
LS Marine Solution, together with its subsidiary LS Buildwin, is aiming to become a comprehensive submarine and underground cable construction company. In addition, the company plans to diversify its business by building the world's largest new ships and providing offshore wind power services, and to begin full-scale entry into overseas markets together with LS Cable & System.
 
In the second session, Shin Young-shik, vice president of LS Cable & System, and Hong Young-ho, CEO of LS Materials, presented their vision under the title, ‘IDC Solutions, the New Opportunities.’
 
LS Cable & System is proactively preparing for the AI ​​data center (AIDC) era with superconducting cable systems, bus ducts, and LS Materials' UCs (ultra capacitors), and plans to expand its presence in the IDC market in cooperation with major global AI companies.
 
LS Materials plans to support the stabilization of the renewable energy supply chain amid the rapidly increasing electricity demand through the use of UCs, a kind of next-generation secondary battery, and to focus on supplying aluminum materials, which are essential for lightweight electric vehicles.
 
Superconducting cables, commercialized by LS Cable & System for the first time in the world, do not generate electromagnetic waves. They are an innovative technology that can increase power supply without the need to add substations in urban areas, and are attracting attention as an important technology for responding to the AIDC era.
 
LS Eco Energy is supplying bus ducts and communication cables to IDCs in Vietnam and is promoting the commercialization of superconducting cables in cooperation with the research institute of Vietnam Electricity (EVN).
 
LS Cable & System has recently strengthened its business structure and further enhanced its global competitiveness by reorganizing LS Buildwin into LS Marine Solution to integrate its construction solutions and reorganizing GNP into Gaon Cable.