With the completion of the Polish plant, LS Cable & System now has a total of 19 business sites at home and abroad, including nine overseas in Vietnam, China and the US.
June 1, 2019
LS Cable & System President & CEO Myung Roe-Hyun has announced that the company has opened a new cable plant in Poland, its first production base in Europe.
The plant is the first such one for a South Korean company in Europe, “the home of cable.” The plant produces parts for electric vehicle batteries and optical cables for communication. More than 100 people, including Cha-Yup Koo, chairman of LS Cable & System; Roe-Hyun; Lee Dong-Wook, CEO of LS C & S Poland; Dariusz Kucharski, mayor of Dzierzoniow; and Mira Sun, Korean ambassador to Poland, attended the ribbon-cutting ceremony.
“LS Cable & System is pushing ahead with its localization and regional base strategy,” Roe-Hyun said. “The Polish plant will serve as the key base for advancing into Europe, and transform the company into a total cable company by adding the power cable business.”
The company said that the nation’s geographic location is favorable to export to other European countries and its excellent workforce availability is important reasons for selecting Poland.
LS Cable & System has also established a subsidiary that produces parts for electric vehicle batteries (LSEVP) in Poland in November 2017. LSEVP can produce parts for 300,000 electric vehicles annually, and is planning to increase supplies to European automakers starting with LG Chem in nearby Wroclaw at the end of this year.
LS Cable & System established its optical cable production subsidiary (LSCP) next to its LSEVP plant in February 2018 as the European optical cable market has grown rapidly. It is the third optical cable plant of LS C & S, following the plants it built in Gumi, Korea and Ho Chi Minh, Vietnam.
LSCP began production last April and has proven that it can produce three million fiber km a year—about 7 percent of the European market—and has since been supplying its products to key European carriers in Italy, France, etc.
