ls marine solution

#lsmarinesolution

Here’s an updated overview of LS Marine Solution:

Who They Are

LS Marine Solution Co., Ltd. (formerly KT Submarine Co., Ltd.) is a South Korean company headquartered in Busan, specializing in submarine cable and offshore plant projects.

Since its launch in 1995, they’ve installed and maintained submarine fiber-optic and power cables, pipelines, and deep-sea infrastructure. They changed their name in August 2023 and currently employ around 69 people  .

They are part of the LS Group, under LS Cable & System, which is one of Korea’s largest cable manufacturers  .

Core Capabilities

• Design, installation, and maintenance of submarine communication and power cables

• Installations for offshore energy (wind, solar), oil & gas pipelines, and deep-sea water systems  

• Provide services for drilling rigs and platforms construction with major shipyards (DSME, SHI, HHI)

Recent Developments

• Investing KRW 345.8 billion (~€221 million) to build a state-of-the-art Cable Laying Vessel (CLV) with 13,000-ton load capacity.

Expected to be operational in the first half of 2028, it will be Asia’s largest and Korea’s first dedicated HVDC installation vessel  .

• This move positions them to compete in global HVDC and offshore wind markets, including North America and Europe  .

• Already deploying vessels equipped with dynamic positioning (DP) systems for precision offshore wind operations .

Financial Snapshot

• Listed on KOSDAQ under ticker 060370

• Main revenue (2024):

• Construction: ₩109 billion

• Maintenance: ₩20 billion

• Other segments: ₩1.13 billion

• Geographic revenue split: South Korea dominant, plus Asia, North America (₩1 billion), Europe (₩377 million) .

Strategic Outlook

LS Marine Solution is evolving from a domestic submarine cable installer into a global turnkey marine energy infrastructure provider, integrating with LS Cable & System’s manufacturing and factory efforts (e.g., US-based GreenLink cable factory) to offer full-cycle services from design to deployment  .

Summary

• Expertise: Subsea cable, offshore energy, deep-sea infrastructure

• Expansion: Building Asia’s largest CLV to serve global offshore energy projects

• Integration: Close tie-ups with LS Cable & System and global cable supply chain

• Public company: Solid financial growth and domestic/international revenue streams

Would you like deeper insights on their CLV project, stock performance, partnerships, or offshore wind strategy?