[Market Focus] LS Marine Solution Surges Over 7% on "Energy Expressway" Momentum

LS Marine Solution is surging sharply in early trading on June 10. This comes after the Lee Jaemyung administration announced its intention to complete the West Coast Energy Expressway project, originally scheduled for completion by 2036, by 2030.

As of 9:27 a.m. on this day, LS Marine Solution is trading at 27,900 won, up 1,950 won (7.51%) from the previous trading day. After soaring more than 26% the previous day, LS Marine Solution continues to benefit from expectations surrounding the West Coast Energy Expressway project.

During the presidential campaign, President Lee Jaemyung pledged to complete the West Coast Energy Expressway project, originally slated for completion by 2036, by 2030. If this plan proceeds as announced, it is highly likely that construction companies and private sector operators will be selected as early as next year.

The coastal energy expressway is a mega-project with a total budget of 11 trillion won, designed to stably transmit offshore wind power generated in the Honam region to the Seoul metropolitan area. For long-distance, high-capacity transmission under the sea, high-voltage direct current (HVDC) technology is essential.

The previous day, LS Cable & System announced that it would be the sole supplier of HVDC cables for the first phase of Korea Electric Power Corporation's 'East Coast-to-Seoul Metropolitan Area' transmission network. Currently, there are only six companies worldwide that have commercialized this technology, and LS Cable & System is the only one in Korea. As a result, investor attention is focusing on LS Marine Solution, LS Cable & System’s cable installation specialist subsidiary.