Review of HVDC Power Grid at Vietnam Workshop
Key Affiliate Leaders Gather to Assess Local Strategies
Attending Dinner with Eric Trump to Expand Global Network
LS Cable has officially begun executing its strategy to target the ASEAN (Association of Southeast Asian Nations) market.
On May 22, LS Cable announced that it had reviewed the localization of high-voltage direct current (HVDC) power grids and submarine projects through a local workshop in Vietnam. In addition, LS Cable CEO Koo Bonkyu was invited to a dinner hosted by Eric Trump, the second son of U.S. President Donald Trump, as part of efforts to expand the company's global network.
At the 'ASEAN Strategic Workshop' held over two days from May 21 in Hanoi, participants focused on discussing business strategies in response to the expansion of artificial intelligence (AI) data centers and renewable energy, as well as plans for localizing submarine projects.
The workshop was attended by LS Cable executives and the heads of major affiliates such as LS Eco Energy and LS Marine Solution, who reviewed the expansion of local production infrastructure and execution systems. In particular, participation in the Vietnam-Singapore ultra-long-distance HVDC submarine power grid project was addressed as a key agenda item.
Commemorative photo of the 'ASEAN Strategic Workshop' held over two days from the 21st in Hanoi. LS Cable.
During the workshop, LS Cable met with Le Manh Hung, Chairman of Vietnam's state-owned energy company PetroVietnam, to discuss support measures such as tax benefits and government subsidies needed for the construction of a submarine cable factory.
On May 21, CEO Koo also attended a groundbreaking ceremony dinner for a resort development project worth 2 trillion won, promoted by the Trump Organization. The invitation was extended as an expression of gratitude for LS Cable's investment in a U.S. submarine cable factory, and LS Cable is now seeking to participate in the power and communication infrastructure projects required for the resort development.
An LS Cable official stated, "Vietnam is a strategic region poised to become a key hub for the global HVDC power grid. We will strengthen our leadership in the ASEAN market not only through submarine projects, but also by expanding into underground power grids, data infrastructure, and other comprehensive business areas."
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