LS Cable wins $115M submarine cable order from Taiwan
![A rendering of LS Cable & System’s subsea cable plant in Virginia [LS GROUP]](https://image.koreajoongangdaily.com/12292209.webp?imageId=12292209&width=960&height=720&format=jpg)
LS Cable & System, Korea's leading wire and cable maker, said Monday it has secured a 160 billion won ($115 million) submarine cable contract from Taiwan.
Under the deal, LS Cable will supply submarine cables for the Formosa 4 offshore wind project led by Synera Renewable Energy by 2028, the company said in a press release.
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The company has won contracts worth more than 1 trillion won in Taiwan since 2019, as the island has stepped up efforts to commercialize offshore wind power.
Taiwan aims to generate 5.7 gigawatts of electricity from wind power by 2025 and expand capacity to 20 gigawatts by 2035 through continued investment in offshore wind farms.
Based on this plan, Taiwan's submarine cable and related industry market is expected to reach 5 trillion won by 2035, according to the company.
Yonhap
