[Sponsored Report] Undersea product creates new market for LS Cable
The company is already active in 23 countries, 19 branches and 60 business sectors, competing with leading companies in Europe and Japan.
It could, however, become a much bigger force in the global market, as it recently succeeded in producing an undersea, extra high-voltage, high-end cable for the first time in Korea, pushing the industry several steps forward.
Its factory in Gangwon Province produced the cable last month, allowing it to enter a new market that European firms dominate.
LS Cable has also started construction on an undersea cable that stretches from Jeju Island to Jindo - a distance of 105 kilometers. The company plans to develop other types of advanced undersea cables going forward as well.
Meanwhile, LS Cable has won projects to provide electricity to small islands and remote areas in the southern part of the country and participate in an undersea cable project with the Jeju Weoljeongli wind power complex.
LS Cable expects that the successful development of this cable will lead to a further widening in the range of its offshore cable solutions.
The 1.8 trillion won market for undersea cables has traditionally been dominated by a small number of European companies due to the high barriers to enter the business.
Korea, therefore, has had to import all its needs in this area.
LS Cable expects to change that going forward now that it has the ability to produce undersea cables.
It also has succeeded in commercializing the high-voltage cable known as the “cable of dreams.” It incorporates a superconductor that has zero electric resistance, allowing you to send transmit huge volumes of electricity over vast distances without losing any in the process.
The cable is also noticeably smaller than its competitors and has 5 to 10 times the transmitting ability, officials said.
The company’s goal is to hit 3.5 trillion won in sales this year on the back of its new products.