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LS Cable & System |
[Alpha Biz= Reporter Kim Sangjin] On the 10th, LS Cable & System announced through a public disclosure that it has decided to invest in its U.S. subsidiary, LS GreenLink, to establish a submarine cable manufacturing facility in the United States.
The investment amounts to $682.74 million (approximately 941.8 billion KRW), which is more than 2.5% of LS Cable & System's consolidated equity capital.
The company stated, "This investment is for the establishment of production facilities to enter the U.S. market," and noted that "the scale of the investment may change depending on the progress of the project."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
