Securing a Strategic Base for Entry into the Subsea Power and Communication Network Market
Pursuing Collaboration with LS Eco Energy in the Subsea Cable Business
On July 21, LS Marine Solution announced that it has opened a sales office in Ho Chi Minh City, Vietnam, marking its official entry into the Asia-Pacific subsea infrastructure construction market.
This decision was made strategically in conjunction with the establishment of a local subsea cable factory by its affiliate, LS Eco Energy. Both companies plan to join forces in the future to undertake subsea power grid and communication network construction projects throughout the Asia-Pacific region.
Recently, demand for subsea infrastructure in Asia has been rapidly increasing due to several factors: the interconnection of long-distance power grids between island nations, the expansion of offshore wind power, the rise in artificial intelligence (AI) data centers, and increased investment in subsea communication networks by global big tech companies. In particular, following Singapore’s announcement to expand renewable energy imports, long-distance high-voltage direct current (HVDC) subsea transmission projects connecting Singapore with countries such as Vietnam, Indonesia, and the Philippines are currently underway.
An LS Marine Solution representative stated, "Subsea cable installation is a highly complex task that must be carried out under challenging conditions such as water depth, currents, terrain, and weather, making extensive experience and technological expertise essential. With the opening of this office, we will further expand our order base in the Asian market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
