LS Eco Energy announced that its Vietnamese production subsidiary, LS-VINA, held a ceremony on March 1 at its Hai Phong plant to commemorate its 30th anniversary, sharing key achievements from the past three decades and outlining future growth strategies.
LS-VINA is widely regarded as one of the most successful overseas ventures by a Korean cable manufacturer and has established itself as the leading cable company in the ASEAN region.
Founded in 1996 under the name LG-VINA, the company was among the first generation of Korean businesses to enter Vietnam following the establishment of diplomatic relations between the two countries. As Vietnam accelerated economic liberalization and industrialization, LS-VINA built its growth foundation by participating in major power infrastructure projects. Annual revenue, which stood at around KRW 6 billion at the time of its launch, has grown to approximately KRW 1 trillion over 30 years.
LS-VINA is currently the only manufacturer in Vietnam capable of directly producing and supplying extra-high-voltage (EHV) cables and serves as a key partner to Vietnam Electricity (EVN). The company maintains the No. 1 market share in Vietnam’s cable industry and holds an estimated 80% share in the extra-high-voltage segment.
At its Hai Phong production base, LS-VINA manufactures high-voltage (HV), medium- and low-voltage (MV/LV) cables as well as overhead conductors, playing a central role in Vietnam’s power grid development. While it initially focused on the domestic market, the company has expanded exports to ASEAN countries, Europe and North America, becoming Vietnam’s largest cable exporter.
More recently, LS-VINA has secured contracts for power infrastructure projects, including those supporting AI data centers in Southeast Asia, as well as major projects in Europe, Singapore and Australia. Building on this momentum, the company aims to achieve $1 billion in annual revenue by 2030.
At the anniversary event, Koo Bon-kyu, CEO of LS Cable & System, expressed appreciation for the dedication of local employees who helped transform the company from its early beginnings into a market leader. He stated that the next 30 years will mark LS-VINA’s advancement into a global top-tier power infrastructure company, adding that continued support will be provided to achieve this goal.
