‘LS Aims to be Global Energy Solution Provider’
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‘LS Aims to be Global Energy Solution Provider’
Chmn. Koo attends ceremony to launch undersea cable laying ship “GL2030” in first field tour since inauguration

25(Wed), May, 2022

LS Group Chairman Koo Jae-eun, LS Corp. CEO Myung Noh-hyun, LS Cable & System President Koo Bon-kyu, and President Park Ji-heon of Korea Electrical Safety Corp. participate in a ceremony to launch the undersea cable laying ship “GL2030.” (Photo: LS Group)

LS Group Chairman Koo Ja-eun made an inspection tour of LS Cable & System’s undersea cable plant at Donghae Port, on April 21, marking his first field tour since his inauguration as group chairman. 

Chairman Koo participated in a ceremony to launch the undersea cable laying ship “GL2030.” He delivered his commemorative speech at the event and gave words of encouragement to those who contributed to building the ship.

GL2030, standing for Global Leading 2030, is a ship specializing in laying marine undersea cables. GL2030 is designed to get LS Cable & System a foothold in the Korean and overseas offshore wind power sector, which is growing at a fast pace, so that the company could secure solutions ranging from conventional cable production to exclusive cable laying capabilities.

Among those on hand at the event were Chairman Koo, LS Corp. CEO Myung Noh-hyun, LS Cable & System President Koo Bon-kyu, and President Park Ji-heon of Korea Electrical Safety Corp. 

In his commemorative speech, Chairman Koo said, “LS is launching a great journey to go to the world from a global undersea cable maker to a global energy solution provider armed with undersea cable laying capabilities.” 

The group will not only raise national competitiveness by contributing to building renewable energy transmission and efficient energy networks, but also help solve global environmental issues, Chairman Koo said. 

Only a few European companies are armed with undersea cable production and laying capabilities. GL2030 is a large-scale undersea cable laying ship, outfitted with a system capable of precisely adjusting and controlling its location. 

LS Cable & System has landed orders worth a combined 800 billion won in the Asian area for the past three years. 

The cable maker has also won a streak of large-scale overseas orders, including a 350 billion won sale in North America in early 2022. 

Putting GL2030 in Korean and overseas business sites is expected to max out outcomes. 

In May, the GL2030 is to be initially dispatched to a site to lay undersea cables about 7 km between Hwawon-myeong, Haenam, and Anjwa Islet in Shinan. 

The project is designed to transmit power being generated from offshore wind power plants to inland grids. 

An LS Cable & System official said, “Renting a cable-laying ship overseas has caused difficulties in scheduling, and with the direct operating of the cable-laying ship, it will not only curtail construction period but also accumulating laying knowhow and ramp up expertise.”

LS Group Strikes MOU on Digital Transition with Microsoft

LS Group signed an MOU on a strategic partnership with Korea Microsoft to accelerate digital transition, including for IT infrastructure, to a cloud regime, on May 2. 

LS Group plans to have all subsidiaries introduce MS Azure over the next five years over LS ITC, the group’s IT service company. 

The group also plans to apply the collaboration platforms, such as Microsoft Teams and MS 365 this year.

MS Azure is Microsoft’s cloud computing service connecting computers over the Internet, while MS 365 is Microsoft’s Software as a Service (SaaS), designed to integrate Window, Office, Microsoft Teams, OneDrive and paper security. 

In particular, Microsoft Teams is a representative collaboration platform with 100 million daily users. It is optimal for remote and non-contact working by providing integrated services such as real-time communication and work management process.

LS’s shift from conventional IT infrastructure to Microsoft’s cloud environment is expected to allow LS executives and staff in 100 corporate locations in 25 countries to utilize the group’s data assets in real time, which will ramp up networking functions and speed. 

The step is expected to dramatically improve the group’s synergetic effects. 

Major subsidiaries of the group, including LS Cable & System, LS ELECTRIC, LS-Nikko Copper and LS Mtron plan to ramp up their product competitiveness by employing Microsoft’s data analysis technology using AI, and to explore new business opportunities. 

In his inaugural speech, Chairman Koo stressed the importance of data-based globalization, saying, “LS will build a cloud-based global business regime so LS employees can understand and utilize real-time data assets scattered in each region of the world simultaneously.” 

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