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LS Cable & System wins $50 million contract in Australia to supply power cables 2018-07-03
■ Largest contract won by Korean cable manufacturer in Australia  
■ Result of overseas base strategy, will accelerate overseas market entry
 
LS Cable & System (President & CEO Roe-hyun Myung) announced on the 31st of May that it had signed a $50 million contract with Western Power of Australia to supply power cables.  
 
This is the largest contract won by a Korean cable manufacturer in Australia. It is a significant achievement for LS Cable & System to be listed as a preferred supplier within only two years of establishing a subsidiary in the country in 2016.
 
In Australia, the demand for power cables necessary for their resource development industries and new and renewable energy power generation, such as wind and solar power generation, is on the rise.
 
LS Cable & System succeeded in winning the contract by securing both price and quality competitiveness through its Vietnamese production subsidiary of LS Cable & System Asia.
 
“Our strategy of strengthening the competitiveness of each overseas base through swift response to changes in the global market environment is producing results,” said LS Cable & System CEO Roe-hyun Myung. “With the awarding of this contract, we expect to expand our presence share in the Australia market.”
 
LS Cable & System is accelerating it overseas presence by establishing production bases for power cables, optical cables and electric vehicle parts in the U.S., Myanmar, France and Poland in 2017.
 

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