Photograph) Panorama of LS Cable & System Asia’s Vietnamese production corporation LSCV


■ Quarterly operating profits surpass 10 billion won for first time ever with record quarterly operating profit rate of 6.6%
■ Increased export of extra-high voltage cables to Europe leads way to all-time high operating profits
■ Factors such as 8^th Power Development Plan in Vietnam, relocation of global production site, expansion into submarine businesses, etc., leading to expectations for increased sales


On December 2, LS Cable & System Asia announced that the company’s 3Q operating profits are estimated to be 11.1 billion won, an all-time high for quarterly operating profits.

This was an approximately 18% increase compared to 9.4 billion won in 2022 3Q. The quarterly operating profit rate was also the all-time highest at 6.6.%. This is more than double the operating profit rates of domestic power cable companies, which hover between 2–3%.

The company explained that the increased export of high value-added extra-high voltage cables by the Vietnamese production corporation LS-VINA to Europe was the main factor behind the improvement in company performance.

The company recorded sales of 167.5 billion won, which was a 13.8% decrease compared to 194.3 billion won last year.

A company spokesperson stated, “Our sales have decreased compared to last year due to the slow recovery of the domestic economy in Vietnam… But we expect our performance to improve in 4Q with orders for large-scale projects such as the 8th Power Development Plan in Vietnam announced back in May and the relocation of our global production site to Vietnam.”

LS Cable & System Asia is the no. 1 power cable manufacturer in Vietnam, and manufactures high value-added extra-high voltage cables. The company has recently signed MOUs for submarine cable business partnerships in ASEAN countries including PTSC (Vietnam), a subsidiary of Petrovietnam, as the company is exploring ways to expand its eco-friendly business.