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LS Eco Energy, a subsidiary of LS Cable & System, recorded sales of approximately KRW 180 billion and operating profits of KRW 9.7 billion. This is our highest performance ever in the first quarter of a year, with sales up 2% from the same period last year and operating profits up 84%.?Net profits increased significantly by over 1,200%, reaching KRW 8 billion. Thanks to this strong performance, we plan to expand into the submarine cable market and permanent magnet rare earth elements business. This year, we plan to establish a joint venture with PTSC and Vietnam as we prepare to enter the ASEAN and European submarine cable markets by building a new submarine cable factory in Vietnam. At the beginning of this year, we signed a rare earth oxide purchase agreement with Vietnamese mining company H?ng Tín Mineral as we continue to actively build a value chain for related business endeavors. With the ongoing expansion of power grids worldwide, the synergy between LS C&S—a global top-tier company—and LS Eco Energy is expected to grow even further. Read more below:? https://lnkd.in/g29NAnzJ Subscribe to our newsletters below and stay informed.? https://lnkd.in/eK7z33xQ #LSCNS #LSEcoEnergy #eco #energy #profit #revenue #submarine #cable #market #business #vietnam #asean #european #vaule #chain

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