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KT Submarine to buy cable laying barge from key shareholder

Korea Economic Daily LogoKorea Economic Daily2d ago

KT Submarine to buy cable laying barge from key shareholder - Korea Economic Daily

Quick Summary:

LS Cable & System, South Korea’s leading cable manufacturer, in April last year built the barge, its first vessel for submarine cable laying, to expand its business from undersea power cable production to construction.

South Korea’s undersea cable company KT Submarine Co.plans to buy a cable laying barge from LS Cable & System Ltd., its major shareholder, to win more orders for offshore wind power projects by improving its construction capabilities.

KT Submarine is also likely to benefit from LS Cable & System’s projects in North America, Europe and Asia, which are worth some 1.2 trillion won.“The purchase of the barge is predicted to bolster KT Submarine’s growth potential as the global submarine cable market is forecast to grow to 150 trillion won by 2027,” said one of the sources.


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Article Details

Category: Economy

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2023-01-26 @ 11:19:07 (2 days ago)

News Timezone: GMT +8:00

Ranking: #209 (out of 4021 stories this day)

News Source URL: kedglobal.com

Language: English

Article Length: 368 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 22 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Korea Economic Daily

News ID: 4801124

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 6 posts per day

Year Established: 1964

Headquarters: South Korea

News Last Updated: 1 days ago

Coverage Areas: South Korea

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #91

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