General – Cable Manufacturing
LS Cable & System, LS Group’s cable manufacturing unit, said Tuesday it would make a 25.2 billion won ($17.58 million) equity investment in KT Submarine to foster its undersea cables business.
The company will acquire 4.04 million stocks, 16 percent of KT Submarine’s share, becoming the second-largest shareholder of KT Submarine.
The cable manufacturer has been expanding investment in undersea cables amid a rapidly growing demand for offshore wind power generation, which requires high-quality subsea cables.
