LS Cable & System to Build Korea's Tallest Ultra-High Voltage Cable Production Tower

[Asia Economy Reporter Kim Hyewon] LS Cable announced on the 25th that it will expand its submarine cable business by investing approximately 185.9 billion KRW additionally in its Donghae plant in Gangwon Province.

LS Cable will build an additional submarine cable factory equipped with the latest facilities, including the tallest power cable production tower in Korea (VCV Tower · Vertical Continuous Vulcanization system) within the Donghae 2nd plant.

Construction will begin in October this year and is scheduled to be completed in April 2023.

With the construction of the 172-meter ultra-high VCV Tower, submarine cable production capacity is expected to increase by more than 1.5 times, improving cable insulation quality and productivity.

Myung Nohyun, CEO of LS Cable, said, "The submarine cable market is also growing due to the expansion of renewable energy investments worldwide for carbon neutrality," adding, "We will contribute to the national economy through domestic investment expansion."

Regional economic revitalization and employment promotion effects are also expected. A company official said, "We considered overseas plants such as Vietnam and China for additional investment, but Donghae City was finally chosen due to Gangwon Province and Donghae City's active corporate support policies."

LS Cable built Korea's first submarine cable factory in Donghae City in 2008 and has invested about 340 billion KRW to develop it into a specialized submarine cable factory.

The existing factory covers a site area of 216,000 m² with a total floor area of 84,000 m², and the newly constructed factory will have a total floor area of 31,000 m². The VCV Tower corresponds to the height of a 63-story apartment building and is expected to become a landmark as the tallest building in Donghae City.