Photograph 1) GL2030, a cable laying vessel owned by LS Marine Solution

Photograph 2) LS Marine Solutions CI


■ Sales surge 84%, reflecting performance of cable construction for Jeonnam Offshore Wind Power Project
■ Expecting to participate in large-scale offshore wind power contract and West Coast Submarine Power Expressway Project 
■ Targeting global market by participating in new SOV projects and building new ships


LS Marine Solutions, Korea's number one cable construction company, has achieved its highest ever sales as it continues its rapid growth.

LS Marine Solutions announced on the 3rd that it has recorded a provisional performance for 2024 of KRW 130.3 billion in sales and KRW 12.4 billion in operating profit. 

This is the highest recorded sales since the company was founded, and represents an 84% increase compared to KRW 70.8 billion the previous year.

This achievement reflects the cable construction performance of Jeonnam Offshore Wind Power Complex 1 (96 MW) and the 4th quarter performance of LS Buildwin, which was incorporated as a subsidiary. The Jeonnam Offshore Wind Power Project, the first offshore wind power project undertaken by LS Marine Solutions, ramped up in the second quarter of 2024, leading to the company's sales growth. 

LS Marine Solutions plans to accelerate its growth by expanding its offshore wind power construction business, participating in the West Coast Submarine Power Expressway Project, and entering the global market through cooperation with LS Cable & System.

LS Marine Solutions has been selected as the preferred bidder for large-scale offshore wind power projects, including projects in Anma (532 MW) and Taean (500 MW), and is about to sign a formal contract. The company is also in negotiations for the Shinan Ui Offshore Wind Power Project (400 MW). 

An official from LS Marine Solutions said, “We will strengthen our competitiveness in the global market by participating in offshore wind power service operation vessel (SOV) projects and building world-class submarine cable construction vessels.”