LS Cable & System has won the ‘Jeju 3-connection submarine cable construction project’ of Korea Electric Power Corporation (KEPCO) with a bid of 232.4 billion won.
This is the largest submarine cable project in Korea following the ‘Jeju 2-connection submarine cable construction project’ completed in 2009.
With this project, scheduled to be completed in 2023, LS Cable & System will be connecting the 90km distance between Wando in Jeollanam-do and Jeju-do with HVDC (high voltage direct current) cables. LS Cable & System will be fully responsible for the project from the production of submarine cables to the construction of all ancillary facilities.
Submarine cables will be routed in two lines to respond to the increase in Jeju’s electricity demand for reliable power supply, and at the same time, it can transmit renewable energy generated on Jeju-do to the shore.
An international competitive bidding was held to select the contractor with LS Cable & System being the final winner. After four failures in bidding, LS Cable & System was finally selected through technical evaluation and other factors. Currently, there are only five companies in the world that can build such a system on a turnkey basis, and LS Cable & System is the only company in Korea with such capability.
President & CEO Roe-hyun Myung said, “When participating in this project, we not only considered the business results but our responsibility for building-out the national power grid infrastructure as well. We will complete this project successfully, with a strong sense of duty.”