Photograph 1) Employees of LS Marine Solution resolving to make a new beginning at the Busan office. 

Photograph 2) LS Marine Solution CI logo


■ Secured 45.69% stake in KT Submarine and passed decisions on changing company name and other matters at general shareholders’ meeting on August 17
■ Improving submarine cable construction capabilities and becoming a turnkey supplier from materials to construction


LS C&S has become the majority shareholder of KT Submarine (KTS).

LS C&S announced on August 17 that the company has purchased a 24.3% (6,290,558 shares) stake in KTS from KT at 44.9 billion won to secure a total stake of 45.69% in KTS.

As a result, LS C&S has completed all acquisition procedures in approximately four months after tentatively securing a controlling interest through a purchase claim (call option) agreement back in April.

An LS C&S spokesperson stated, “As a result of improving our submarine construction capabilities through the acquisition of KTS, we have become a turnkey supplier that can offer all services from manufacturing to the construction of submarine cables.”

KTS is planning to hold an extraordinary shareholders’ meeting today to pass the agenda for amending the company’s articles of association, including the change of the company name to ‘LS Marine Solution.’

KTS has recorded its highest operating profit and net profit in the past 20 years due to the company’s participation in the new growth engine of submarine power cable projects and improved efficiency in asset management in the first half of this year.

The industry is also projecting that the increase in domestic offshore wind farm construction projects as well as the Seohaean Power Grid Construction Project stemming from the ‘10th Long-term Power Transmission and Transformer Equipment Construction Plan’ will be opportunity factors for KTS.