[Market Focus] LS Marine Solution Surges on Selection as Preferred Bidder for Haesong Offshore Wind Project... New High

LS Marine Solution is showing strong performance following the news that it has been selected as the preferred bidder for the Haesong Offshore Wind Project, the largest offshore wind power project in South Korea. During the session, the company set a new 52-week high.

As of 9:17 a.m. on June 12, LS Marine Solution was trading at 31,250 won on the Korea Exchange, up 1,900 won (6.47%) from the previous day. The stock rose as high as 34,600 won during the session, marking a new 52-week high.

On this day, LS Marine Solution announced that it had been selected as the preferred bidder for the subsea cable transportation and installation segment of the Haesong Offshore Wind Project. The Haesong Offshore Wind Farm will consist of two 504MW complexes, totaling 1GW, located off the west coast of Sinan-gun, Jeollanam-do. This is a scale capable of producing as much electricity as a single nuclear power plant.

LS Marine Solution plans to carry out all processes involved in building both internal and external networks, including marine surveys, subsea cable laying and burial, and connection testing. In particular, the company intends to demonstrate its advanced construction capabilities in deep-sea and long-distance waters by utilizing the country's only newly built vessel dedicated to high-voltage direct current (HVDC) cable laying.