LS

■ Domestic cable maker’s first production base in Europe

■ Producing parts for EV batteries and optical cables for communication
 

LS Cable & System (President & CEO Myung Roe-Hyun) announced that on May 14 it held a ribbon-cutting ceremony for a cable plant in Dzierzoniow in the southwestern region of Poland.
 
It is the first plant that a Korean cable maker established in Europe, the home of cable. The plant produces parts for electric vehicle batteries and optical cables for communication.
 
More than 100 people, including Cha-Yup Koo, Chairman of LS Cable & System, Myung Roe-Hyun, President and CEO of LS C & S, Lee Dong-Wook, CEO of LS C & S Poland, Dariusz Kucharski, Mayor of Dzierzoniow, and Mira Sun, Korean Ambassador to Poland, attended the ribbon-cutting ceremony.
 
“LS C & S is pushing ahead with its localization and regional base strategy,” said Myung Roe-Hyun, President & CEO of LS C & S. “The Polish plant will serve as the key base for advancing into Europe, and transform the company into a total cable company by adding the power cable business.”
 
Poland has very good SOC like roads and power grids, and the Polish government is known to fully support investment of foreign capital with various tax incentives. Also, the company said that the nation’s geographic location is favorable to export to other European countries and its excellent workforce are important reasons for selecting Poland.
 
LS C & S established a subsidiary that produces parts for electric vehicle batteries (LSEVP) in Poland in November 2017. LSEVP can produce parts for 300,000 electric vehicles annually, and is planning to increase supplies to European automakers starting with LG Chem in nearby Wroclaw at the end of this year.
 
LS C & S established its optical cable production subsidiary (LSCP) next to its LSEVP plant in February 2018 as the European optical cable market has grown rapidly. It is the third optical cable plant of LS C & S, following the plants it built in Gumi, Korea and Ho Chi Minh, Vietnam.
 
LSCP began production last April and has proven that it can produce 3 million f.km* a year, about 7% of the European market, and has since been supplying its products to key European carriers in Italy, France, etc.
  

With the completion of the Polish plant, LS C & S is now operating a total of 19 business sites at home and abroad, including 9 overseas in Vietnam, China, the US, etc.

*Fiber kilometer, 1f.km is the length of 1 optical fiber

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