The company has signed a memorandum of understanding (MoU) with Donghae City and Gangwon Province to build an additional cable manufacturing plant.
March 28, 2019
LS Cable & System will invest USD 35.2 million to build an additional cable manufacturing plant in Donghae, Gangwon Province.
LS Cable & System has been operating the country’s first submarine cable manufacturing plant in the city since 2008 and the new facility will be built next to it, occupying a 104,000 square meter site.
The construction will begin this year and the plant will be completed by the early 2021.
At the new plant, LS Cable & System will manufacture extra-high-voltage cables including high voltage direct current cables. With the new plant, the cable manufacturing capabilities of the Donghae plant will be increased by 250 percent.
While the firm planned to originally build a new plant overseas, it decided to add a new cable manufacturing factory here to contribute to revitalizing the regional economy.
