Photograph) LS Marine Solution's cable laying vessel GL2030


■ Sales increased by 225%, reflecting achievement of cable laying in Jeonnam offshore wind power project
■ LS Marine Solutions signs KRW 22.7 billion contract for offshore wind power in Taiwan, its first overseas project
■ Company plans to sign main contract for large-scale offshore wind power project and hopes to participate in West Coast Energy Expressway


LS Marine Solutions, Korea's No. 1 cable laying company, continued its rapid growth with its highest-ever sales in the first quarter of 2025.

LS Marine Solutions announced on the 8th that it had achieved tentative sales of KRW 44.5 billion, operating profit of KRW 3 billion, and net profit of KRW 2.7 billion in the first quarter of 2025.

The company recorded a year-on-year increase in sales of 225.3% (KRW 13.7 billion), the highest for the first quarter since its foundation in 1995. It also succeeded in turning both its operating profit and net profit into surplus.

These achievements reflect the completion of cable laying for Jeonnam Offshore Wind Power Complex 1 (96 MW) and the performance of LS Buildwin, which was incorporated as a subsidiary in the fourth quarter of last year. In particular, LS Marine Solutions’ first project, the Jeonnam offshore wind power project, contributed significantly to sales growth. Cable laying for this project was completed in February of this year.

Overseas markets also continue to generate high performance. Recently, LS Marine Solutions signed a contract worth USD 15.8 million (approximately KRW 22.7 billion) to lay submarine cables at an offshore wind farm in Taiwan. This is the company's first overseas order in the power grid sector, and the expansion of its overseas sales base is expected to lead to improved performance in the near future.

LS Marine Solutions is the preferred bidder for large-scale offshore wind power projects in Anma (532 MW) and Taean (500 MW), and will soon sign contracts. The company is also working on expanding the loading capacity of its main cable laying vessel, GL2030, from 4,000 tons to 7,000 tons, which will make it the largest in Korea.

“LS Marine Solutions is strengthening its cable laying capabilities and continuing to invest in equipment in line with the expansion of offshore wind power projects,” said Kim Byeong-ok, CEO of LS Marine Solutions. “We will continue to grow by expanding our offshore wind power business, participating in the West Coast Energy Expressway Project, and entering the global market.”