Photograph) Aerial View of the Vietnam Submarine Cable Factory Planned by PTSC and LS Eco Energy


■ Cooperating with Vietnamese state-owned energy company for establishment of submarine cable supply chain 
■ Planning to participate in Vietnam – Singapore submarine cable connection project 
■ LS Marine Solution promoting Southeast Asian market expansion by opening office in Vietnam 

LS Eco Energy (CEO Sang-ho Lee) announced on the 27^th that officials from Petro Vietnam Technical Service Corporation (PTSC), a subsidiary of Vietnam’s state-owned energy company, Petro Vietnam, had visited LS Cable & System’s submarine cable plant in Donghae-si, Gangwon-do, to discuss plans for cooperation.

PTSC’s visit is expected to provide LS Eco Energy with an opportunity realize its cooperation plans for expanding its submarine cable project in Vietnam and Southeast Asia. Together with PTSC and its subsidiary LS Marine Solution, LS Eco Energy will review the plans for joint submarine cable production and supply chain development. 

“Vietnam is growing fast as a renewable energy hub in Southeast Asia and submarine cables are a key infrastructure element for the expansion of the renewable energy supply chain,” said LS Eco Energy CEO Sang-ho Lee. He added, “Together with LS Marine Solution, we will lead the Southeast Asian market based on our technological prowess and supply chain competencies.” 

PTSC is currently implementing a large-scale project to supply eco-friendly electric power generated at an offshore wind power complex to Singapore through submarine cables, and LS Eco Energy is looking for a way to cooperate in the project. In addition, LS Marine Solution is promoting participation in the project for its overseas business expansion. 

LS Marine Solution is also actively reviewing its participation in projects that involve installing optical submarine cables between North America and Asia that are being promoted by global big tech companies such as Meta and Amazon. With the rapid increase in demand for global submarine communication infrastructure, LS Marine Solution plans to embark on market expansion with participation in such projects as its new growth engine. 

In line with market trends, LS Marine Solution will promote the development of the Southeast Asian market by opening an office in Vietnam. In addition, it plans to finalize investment for a new ship within the first half of the year and strengthen cooperation with local companies and governments in Taiwan, Vietnam, and other countries.