Officials from PTSC, a subsidiary of Vietnam's state-owned energy corporation Petro Vietnam, visited the LS Cable & System underwater cable factory in Donghae, Gangwon Province, to discuss cooperation plans.
On the 27th, LS Eco Energy plans to review the production of underwater cables and supply chain establishment with PTSC, its affiliates, and LS Marine Solution. The company expects this will be an opportunity to expand its underwater cable business in Vietnam and Southeast Asia.
LS Eco Energy CEO Lee Sang-ho noted, "Vietnam is rapidly growing as a renewable energy hub in Southeast Asia," adding, "Underwater cables are a key infrastructure for expanding the renewable energy supply chain, and we will lead the Southeast Asian market in cooperation with LS Marine Solution."
PTSC is promoting a project to supply eco-friendly power produced at Vietnam's offshore wind farm to Singapore through underwater cables. LS Eco Energy and LS Marine Solution are seeking cooperation plans for the project.
Meanwhile, LS Marine Solution is actively considering participation in the underwater optical cable construction project between North America and Asia, driven by global big tech companies like Meta and Amazon. It plans to finalize new vessel investments within the first half of the year and collaborate with local corporations in Taiwan and Vietnam.