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LS Marine Solution's submarine cable laying vessel GL2030 loads submarine cables to be deployed for the Langkawi project in Malaysia at Donghae Port, Gangwon Province. / LS Marine Solution

LS Marine Solution has embarked on a submarine cable installation project in Malaysia, ramping up its expansion into overseas power grid markets. Following Taiwan, this marks the company's second overseas power project, and with recent domestic mega-project wins added to the ledger, its order backlog has surged to approximately 820 billion won—more than triple its annual revenue from last year.

On the 14th, LS Marine Solution announced that it is loading cables onto its cable laying vessel, GL2030, at Donghae Port in Gangwon Province for deployment in the Langkawi submarine cable project in Malaysia. The project was secured by LS Cable & System from Tenaga Nasional Berhad (TNB), Malaysia's state-run power company, to connect the Malaysian mainland with Langkawi Island via a 132-kilovolt (kV) submarine cable. The GL2030 will sail to Malaysia and complete the laying operations within the year.

This operation represents the first project undertaken by the GL2030 since its upgrade and retrofitting from a 4,000-ton class vessel to a 7,000-ton class vessel. With the increased loading capacity, the ship is now capable of continuously laying more than 100 kilometers of submarine cable, effectively securing construction capabilities to handle long-distance, high-capacity submarine power grid projects.

The Langkawi initiative is the company's second overseas power project following the Taiwan Power Company's offshore wind farm project (TPC2). Having recently secured a 156.9 billion won contract for the Shinan Ui offshore cable installation project, LS Marine Solution expanded its total order backlog to approximately 820 billion won. This represents roughly 3.4 times last year's revenue of 244.2 billion won.

With the GL2030 deployed to the Malaysian project, all three of the company's vessels are now in active operation. The remaining ships are assigned to submarine cable installation and maintenance operations in Taiwan and the Pacific region, respectively.

Going forward, LS Marine Solution plans to expand its participation in major domestic power grid initiatives, such as the Shinan Ui and Taean offshore wind projects, as well as the West Coast High-Voltage Direct Current (HVDC) Energy Highway.

An official from LS Marine Solution said, "We hold the only track record in South Korea for HVDC submarine cable installation," adding, "We will broaden our involvement in core power grid projects, including the West Coast Energy Highway."

                                                                                                            Lee Seo-yeon