22-05-2025
LS Cable eyes Vietnam HVDC project for ASEAN expansion
Korean cable-maker aims to bolster subsea cable, underground power grid, data infrastructure businesses in Southeast Asia
LS Cable & System is turning up efforts a notch to bolster its Southeast Asian businesses by reviewing subsea localization strategies and expanding its global network, the Korean cable-maker said Thursday.
LS Cable & System held a workshop on Wednesday and Thursday in Vietnam with the CEOs from LS Cable & System, LS Eco Energy and LS Marine Solution to discuss ways to cope with the growing renewable energy sector and artificial intelligence data centers. Key on the agenda was participation in a project that connects Vietnam and Singapore with long-distance high-voltage direct current, or HVDC, submarine cables.
According to LS Cable & System, its CEO Koo Bon-kyu met with Le Manh Hung, chairperson of Vietnamese state-run energy company PetroVietnam, to discuss support measures from the Vietnamese government such as tax credits and subsidies needed to build a local subsea cable plant during the workshop period.
Koo also attended a dinner banquet celebrating the groundbreaking ceremony for a 2 trillion won ($1.45 billion) golf club development led by the Trump Organization. The invitation for the LS Cable CEO was a way to show gratitude for LS Cable's $681 million investment to build the largest subsea cable manufacturing plant in the US. LS Cable said it is exploring ways to participate in the Trump Organization's Vietnamese golf resort development.
'Vietnam is a strategic region that will grow into a key foothold in the global HVDC power grid,' said an LS Cable & System official.
'Through the expansion of our full-range businesses including not only the subsea businesses but also underground power grids and data infrastructure, we will strengthen the leadership in the ASEAN (Southeast Asian) market.'
