"Asia-Pacific Market Targeting" LS Marine Solution, Opens Sales Office in Vietnam

[Financial News] LS Marine Solution announced on the 21st that it has opened a sales office in Ho Chi Minh City, Vietnam, marking its full-scale entry into the submarine infrastructure construction market in the Asia-Pacific region. This decision is in line with the move to establish a local submarine cable factory by its affiliate LS Eco Energy. The two companies plan to cooperate in the future in the construction of submarine power and communication networks throughout the Asia-Pacific region.
According to LS Marine Solution, recently, the demand for submarine infrastructure in the Asia region is rapidly increasing due to long-distance power grid connections between island countries, the spread of offshore wind power, the increase in artificial intelligence (AI) data centers, and the expansion of global big tech's investment in submarine communication networks. After Singapore declared an expansion of renewable energy imports, long-distance ultra-high-voltage direct current (HVDC) submarine transmission network projects connecting Vietnam, Indonesia, the Philippines, and other countries to Singapore are also being actively pursued.
An LS Marine Solution representative stated, "Submarine cable construction is a high-difficulty task carried out under challenging conditions such as depth, currents, terrain, and weather, requiring abundant experience and technology," adding, "With the opening of this office, we will further expand our order base in the Asian market."
LS Marine Solution is a submarine construction specialist company that has been carrying out major domestic and international projects for 30 years. Recently, it won the Taiwan offshore wind power submarine cable project, becoming the first in Korea to enter the overseas power grid market. It is also accelerating its efforts to penetrate the communication infrastructure market by winning the Korea-Japan submarine communication network project pursued by Microsoft and Amazon.

kjh0109@fnnews.com Kwon Jun-ho Reporter