During a press event, the Korean power cable maker unveiled its growth strategies for subsea cables and internet data centers (IDCs), emphasizing reductions in power consumption and operating costs.
Despite growing global demand for high-voltage direct-current (HVDC) cables driven by long-distance power grids and offshore wind projects, only six suppliers exist worldwide, including LS Cable, three European companies, and two Japanese firms.
Among them, LS Cable and the European companies hold a combined 85 percent market share.
The company aims to deepen its strategic alliances with leading global firms in the offshore wind power value chain, leveraging its advanced technological expertise and industry experience.
LS Cable plans to construct a factory in Virginia, United States, by 2027, with mass production starting in 2028.
The company is also considering expansion into Britain, noting that Europe hosts about 75 percent of the world's wind farms.
"We will work with LS Eco Energy to complete our regional portfolios across the world by building factories in Europe, Asia and the Americas, and also cooperate with LS Marine Solutions to complete our business portfolio with turnkey solutions covering everything from supply to the construction and maintenance of cables," said LS Cable CEO Koo Bon-kyu.
At the event, key executives from LS Cable, along with representatives from major subsidiaries such as LS Eco Energy, LS Marine Solutions, and LS Materials, attended to present the competitiveness and growth strategies of their core businesses.
LS Marine Solutions aims to become a comprehensive subsea and underground cable construction firm, diversifying its business with the construction of large vessels and offshore wind services.
LS Cable is also developing solutions for AI data centers, including superconducting cable systems, bus ducts -- an innovative electricity distribution solution for large-scale applications -- and ultracapacitors (UCs) from LS Materials, which are high-capacity energy storage devices.
Through collaboration with major global AI companies, LS Cable plans to expand its presence in the IDC market.
LS Materials is focusing on stabilizing the renewable energy supply chain and supporting the lightweighting of electric vehicles through next-generation secondary batteries, such as UCs, in response to increasing electricity demand.
LS Eco Energy is supplying bus ducts and communication cables to IDCs in Viet Nam and is working with local electricity authorities to commercialize superconducting cables.
reporter
Kim Joo-heon
jhkim123@ajunews.com
