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LS Cable's Vietnamese unit inks US$50 mln electric cable deal

Industry 14:37 March 25, 2019

SEOUL, March 25 (Yonhap) -- LS Cable & System Asia, the Vietnamese unit of South Korea's top cable maker LS Cable & System Co., said Monday it has signed a US$50 million deal to supply electric wire and cables to a Vietnamese construction firm.

Under the deal with Hoanh Son Group, LS Cable & System Asia's local unit, LS-Vina Cable & System, will supply cables and electric wire to the Vietnamese firm over the next two years.

LS Cable & System Asia, set up in 2015, has been seeking to emerge as the No. 1 cable maker in Southeast Asia on the back of increased spending by Asian countries to update their industrial infrastructure.

LS Cable & System Asia has two local operations -- LS VINA and LSCV -- under its wing and is the largest cable maker in Vietnam, with a 30 percent market share.

The company made a debut on the South Korean stock market in 2016, the first market debut by a South Korean company's overseas unit.

This file photo shows LS Cable & System's main office in Anyang, just south of Seoul. (Yonhap)


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