President Koo Ja-eun of LS Cable and System. (Photo: LS Cable)

LS Cable and System Co. won the 2016 Korea Management Awards in the global management sector in recognition of the cable maker’s exclusive high-tech cable production technology that has led to a leading position in the global cable industry.

The reform and restructuring strategy the cable producer has been pushing for the past three years is coming to an end this year on a successful note.

As such, the company has been strengthening its marketing for its super high-pressure cable, undersea cable and other high value-added products so it can expand its marketing regions to Europe and North America from the Middle East and Asia, the traditional regions for its products.

The cable company has been leading the global undersea cable market as it is the only undersea cable maker in Korea, putting it in a position to compete with foreign undersea cable makers in Europe and Japan. The company built a cable plant in Donghae, Gangwon Province in 2009 and has concluded large supply contracts both at home and abroad for its undersea cables in such regions as the Middle East, Europe and South America, which has allowed it to consolidate its position as a major undersea cable supplier. LS Cable acquired Superior Essex to enhance its global leadership in 2008, creating a wire and cable industry leader with a strong product portfolio and capabilities in power cable, magnet wire, communications cable and copper rod. This transaction made LS Cable a strong global competitor at the forefront of the ongoing wire and cable industry consolidation. Together, LS Cable and Superior Essex will have worldwide reach through a diverse network of manufacturing and distribution facilities. Given the highly complementary geographic locations of the two companies, this combination greatly expands the global presence. Bringing two companies together accelerates both companies’ strategic plans and will position LS Cable to leverage the operations to drive value and to capture synergies between the two businesses

Superior Essex Inc., a FORTUNE 1,000 company, is one of the largest wire and cable manufacturers in the world. The company manufactures and supplies a broad portfolio of wire and cable products for the communications, energy, automotive, industrial, and commercial and residential end-markets. It is a leading manufacturer of magnet wire, fabricated insulation products, and copper and fiber optic communications wire and cable. It is also a leading distributor of magnet wire, insulate

LS Cable & System (LS C&S), the world's top-tier cable manufacturer, has won exclusive contracts for undersea cable projects worth $100 million (120 billion won) in the U.S. and Canada. Under one deal, the company will provide undersea cables worth $47 million to the New York Power Authority (NYPA). The project will allow LS Cable to supply cables for Lake Champlain between New York and Vermont.

The cable manufacturer also recently won a $54 million contract to provide undersea cables for Canada's eastern province of Prince Edward Island.

"LS Cable is successfully penetrating the undersea cable market in North America, based on our decade-long expertise as an extra-high voltage cable supplier to the U.S.," said Yoon Jae-in, president of the company's American business unit said on related products.

The company said there is still huge untapped potential in the U.S., with increasing demand to replace the country's outdated power cables.

The lifecycle for an undersea cable is between 30 to 50 years.

LS Cable said the global undersea cable market is expected to be worth about 8 trillion won by 2018, a two-fold increase from 2016, amid rising demand for natural resources development and inter-country electrical grid projects.

"We have a strong foothold in the Asian market, and aim to diversify our revenue channels not just into North America, but into Europe and Africa too," an LS Cable official said. The company recently won a $57 million contract supplying 345-kilovolt underground power transmission cables to a U.S. company.

The cable manufacturer operates Asia's largest undersea cable manufacturing facility in Gangwon Province.

The company makes power transmission cables, undersea cables and electrical components.