This file photo provided by LS Marine Solution Co. shows the Miraero, a special-purpose vessel designed to install submarine power cables. (Yonhap)
SEOUL, April 28 (Korea Bizwire) — LS Cable & System Ltd., South Korea’s biggest cable company, said Monday its unit has received a 22.7 billion-won (US$15.8 million) submarine power cable deal in Taiwan.
LS Marine Solution Co. will install submarine power cables for Taiwan Power Company’s (TPC) offshore wind power plant by May 2026, the company said in a press release.
The deal is part of the Taiwanese government’s 2.5 trillion-won project to develop facilities capable of generating a total of 20.6 gigawatts of wind power by 2035, it said.
It is the first overseas submarine power cable deal won by LS Marine Solution.
The company expects the Taiwan project will lead to more opportunities to secure similar deals in global markets.
LS Cable acquired the undersea communication cable-focused company from KT Corp. in 2023.
It currently owns a 66.75 percent stake in LS Marine Solution.
(Yonhap)
