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Photograph 1) Koo Bon-kyu, CEO of LS Cable & System (center), Torgeir Nakken, general director of Equinor (left), and Embret Jonsgaard, purchasing director of Equinor, take a commemorative photo after signing an MOU for cooperation on the Bandibuli Floating Offshore Wind Power Plant Project at BIXPO 2024, held at the Kim Dae-jung Convention Center in Gwangju on the 6th.



Photograph 2) Visitors viewing the LS Cable & System exhibition hall at BIXPO 2024 on the 6th.



Photograph 3) Visitors viewing the LS Cable & System exhibition hall at BIXPO 2024 on the 6th.


■ Supply of cables to Bandibuli Project expected to be first commercialization case in Korea
■ LS Cable & System to lead domestic and overseas markets in line with government's floating offshore wind power support policy
■ LS Cable & System strengthening submarine business value chain in cooperation with LS Marine Solution and LS Eco Energy


LS Cable & System (CEO Koo Bon-kyu) announced on the 6th that it has signed an MOU with Norwegian integrated energy company Equinor for cooperation on the Bandibuli Floating Offshore Wind Power Project, which is the largest power project of its type in the world.

This is Korea's first large-scale floating offshore wind power project. For it, Equinor plans to build a 750 MW offshore wind farm about 70 km off the coast of Ulsan by 2030.

Floating offshore wind power generation is a method of generating power even in deep seas by installing turbines on floating objects rather than anchoring them to the seabed. Demand for this method is increasing worldwide due to a decrease in coastal installation space. 

LS Cable & System has developed Korea's first dynamic submarine cable for floating offshore wind power generation, secured durability for application even in harsh marine environments, and proactively obtained international certification. 

Dynamic cables are a highly advanced technology that can withstand high waves and strong currents while transmitting power stably. Only a few companies in the world have succeeded in developing them. 

"LS Cable & System's technological capabilities will strengthen the competitiveness of Korea's floating offshore wind power industry and contribute significantly to leading the global market," said Koo Bon-kyu, CEO of LS Cable & System. "We will further strengthen the value chain of the submarine business by cooperating with LS Marine Solution and LS Eco Energy."

Torgeir Nakken, managing director of Equinor, said, “We are very pleased to be participating in the Bandibuli Floating Offshore Wind Power Generation Project together with LS Cable & System. Through this partnership, we hope to help Korea become a global leader in the floating offshore wind power generation sector.”

The Korean government recently announced a plan to implement a total of 2.5 to 3 GW in floating offshore wind power generation projects by 2026, and allocated about 500 MW to floating offshore wind power generation for the first time by issuing a bid notice for a fixed-price contract in October.

“This policy reflects the importance of floating offshore wind power generation, and it is receiving great attention in the Korean energy market,” explained a company official.

The MOU signing ceremony occurred during BIXPO 2024, which was held at the Kim Dae-jung Convention Center in Gwangju. At the event, LS Cable & System presented its solutions for floating offshore wind power, high-voltage direct-current (HVDC) submarine cables, and superconducting cable solutions for internet data centers (IDC).