LS Eco Energy is showing strong performance. The news that it has obtained safety certification for underground (URD) power cables from the U.S. safety certification organization UL appears to be influencing its stock price. With this certification, LS Eco Energy is expanding its product lineup for export to the U.S., in addition to its existing LAN (UTP) cables.
As of 10:44 AM on the 9th, LS Eco Energy is trading at 34,900 KRW, up 14.61% from the previous day.
URD power cables are mainly used in various distribution networks connecting solar power plants and data centers (IDC). Demand has significantly increased recently due to the expansion of related industries.
LS Eco Energy plans to accelerate its market penetration by conducting full-scale marketing targeting power plant construction companies and power authorities together with its U.S. subsidiary LSCUS.
With the U.S. imposing high tariffs on Chinese aluminum, sales of aluminum conductor URD cables from countries other than China are surging.
The company secures price competitiveness by producing products at LS-VINA in Vietnam. It expects the Vietnam business to benefit from the U.S. policy of countering China. Due to the impact of the U.S. policy against China, exports of LAN cables made by LS Eco Energy's Ho Chi Minh production subsidiary LSCV to the U.S. in the first half of the year increased by more than 30% compared to the same period last year.
Lee Sang-ho, CEO of LS Eco Energy, said, "We expect this certification to play an important role in expanding the U.S. market and enhancing competitiveness in the global power cable market."
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