Taipei: LS Cable and System Ltd., South Korea's largest cable company, announced that its unit has secured a 22.7 billion-won (US$15.8 million) contract for submarine power cables in Taiwan. The project involves LS Marine Solution Co. installing these cables for Taiwan Power Company's (TPC) offshore wind power facility, with an expected completion by May 2026.
According to Yonhap News Agency, this contract is part of Taiwan's 2.5 trillion-won initiative aimed at developing infrastructure capable of generating 20.6 gigawatts of wind power by 2035. This marks LS Marine Solution's first international submarine power cable contract, highlighting the company's potential to expand into global markets.
The company anticipates that the Taiwan project will pave the way for more opportunities to secure similar contracts worldwide. LS Cable acquired LS Marine Solution, a company specializing in undersea communication cables, from KT Corp. in 2023 and currently holds a 66.75 percent stake in the unit.