LS Marine Solution posts record sales, eyes growth in renewables, defense
South Korea's leading submarine cable manufacturer, LS Marine Solution, posted record sales last year and aims to sustain its growth momentum in the renewable energy and defense sectors.
The company said Monday that sales had surged 84 percent year-on-year to 130.3 billion won ($96.5 million), while operating profit rose 25 percent to 12.4 billion won during the same period.
Building on over 30 years of experience in subsea communication networks for global tech giants such as Meta and Microsoft, the company has expanded its expertise into strategic infrastructure sectors, including high-voltage direct current (HVDC) transmission, offshore wind power, and defense.
LS Marine Solution, along with its sister company LS Cable, is among just six companies globally to have successfully commercialized long-distance HVDC submarine cables, offering turnkey solutions from manufacturing to installation.
The company is now actively seeking participation in the West Coast HVDC offshore power grid project — a key component of South Korea's renewable energy expansion and power network modernization strategy.
In November 2024, the company completed the Jeonnam 1 Offshore Wind Farm subsea cable installation. The project marks the beginning of what will become the world's largest offshore wind complex, expected to generate 8.2 gigawatts of energy by 2035.
Additionally, LS Marine Solution secured its first overseas subsea cable project from Taiwan Power Company, valued at $15.8 million — a significant breakthrough for a Korean firm in the global offshore wind market.
'We will continue to lead in HVDC, offshore wind, and defense projects, strengthening both national infrastructure and security,' said LS Marine Solution CEO Kim Byung-ok.
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