■ Entering the submarine cable market, currently dominated by European companies
■ Setting its Donghae Plant as the advance base for penetrating into marine applications, ships and wind power solution markets worldwide
Seoul, Korea September 20th - LS Cable announced that it has begun manufacturing submarine cables at its Donghae Plant located in the Songjeong Industrial Complex in Donghae City, Gangwon-do for the first time in Korea.
The construction of the Donghae plant, which started in April 2008 with an investment of KRW 180 billion, is nearing its completion slated for early November. The plant occupies a site of about 248,000m² near the Donghae Port. At the facilities, which contain an area of 46,600m2, over 180 employees are currently working.
In the plant, a production line for specialty cables that was transferred from the Anyang (Gyeonggi-do) facilities has been operating since June 2009. The newly established production line for submarine cables has begun full-blown operation after 3 months of test production. LS Cable had already received orders from Korea Electric Power Corporation in February 2009 for 250kV submarine cables that will be manufactured at the plant. Those cables will be laid between Jeju Island and Jindo Island, a section that will be 105km. Installation will commence in May of 2010 with completion scheduled to be done by 2011.
With this project, LS Cable is planning to establish internal engineering and construction methodologies which will prepare it to enter overseas markets including countries in Europe and South-East Asia. LS Cable is also planning to develop new products including a 500kV submarine cable and an umbilical cable that in addition to electric power can even transfer natural gas, water, and communication signals.
Meanwhile, in the specialty cable sector, the company is manufacturing cables used for wind power, ocean going vessels, marine applications, railroads and nuclear power plants. Especially, LS Cable with its affiliate JS Cable has taken 1st place in the global marine and offshore cable markets.
Jong-ho Sohn, President of LS Cable said, “The Donghae Plant will serve as our advance base for stepping into the worldwide marine solution business, and for expanding the future growth engine of LS Cable which will include wind and nuclear power plant applications
LS Cable to Manufacture Submarine Cables for the First Time in Korea
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