Photograph) LS Cable & System’s Donghae plant


■ Collaboration with LS Cable & System lays foundation for synergy in submarine cable business 
■ Company plans to expand energy portfolio to focus on renewable energy and offshore wind power
■ Increased exports of high value-added cables led to highest ever operating performance in 2024


LS Eco Energy (CEO Lee Sang-ho) announced on the 3rd that its board of directors has approved a revision to the articles of incorporation that would relocate the headquarters from LS Yongsan Tower in Seoul to the LS Cable & System Donghae plant in Donghae-si, Gangwon-do.

The relocation of the headquarters is part of efforts to secure a base for the submarine cable business and lay a foundation for growth by strengthening collaborative synergy with LS Cable & System.

LS Eco Energy recently discussed cooperation on an offshore wind power project with Vietnam's Minister of Industry and Trade (MoIT) and the state-owned enterprise PetroVietnam. LS Eco Energy is considering jointly participating with LS Marine Solutions in this large-scale project, which will transmit electricity produced at an offshore power plant in Vietnam to Singapore.

In addition, LS Eco Energy decided at its general shareholders meeting on the 26th to add offshore wind power and energy-related businesses to its articles of incorporation, and the company plans to expand its portfolio in response to the enactment of the Special Act on Offshore Wind Power and the construction plan for the West Coast Energy Highway. The company plans to strengthen its role in the core supply chain through future collaboration with LS Materials, LS Marine Solutions, and others.

“As Southeast Asian countries, including Vietnam, emerge as renewable energy hubs, submarine cables are drawing attention as a key part of infrastructure,” said Lee Sang-ho, CEO of LS Eco Energy. “With the relocation of our headquarters as a starting point, we will work harder to enter the global market.”

Meanwhile, last year LS Eco Energy recorded its best performance since its foundation in terms of sales, operating profit, and net profit. This outstanding result was driven by the company's rapid market response to the growing demand for AI data centers and the expansion of power grids, as well as the expansion of high value-added cable exports to Europe and the United States.