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[Alpha Biz=(Chicago) Reporter Kim Jisun] LS Marine Solutions, which was recently incorporated into LS Group, will invest 9.1 billion won by the end of this year to build undersea power cable facilities and strengthen its capabilities in the power sector, a new business.
According to related industries on the 22nd, LS Marine Solution is planning to invest a total of $6.87 million (9.1 billion won) by December to secure 10-meter vertical injector facilities for laying and laying construction projects.
LS Marine Solutions expanded its business from the existing telecommunications sector to the power sector last year with the acquisition of stakes in LS Cable & System.
Accordingly, LS Marine Solution, which changed its name from KT Submarin and started a new company in the middle of this month, is expected to maximize synergy from production to construction of submarine cables through cooperation with its parent company LS Cable.
LS Cable & System recently purchased a 24.3% (6,295,558 shares) stake in LS Marine Solutions from KT for 44.9 billion won, securing a total of 45.69% and becoming the largest shareholder. LS Marine Solution held a board meeting and changed its name from KT Submarine to LS Marine Solution and started a full-fledged new start.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
