LS Marine Solution Co., Ltd.
KKRX:06037029,850.00
KRW
+200.00
(+0.67%)
ISIN
KR7060370004
Return %
Stock
S&P 500
1Y
19.16
14.39
3Y
250.79
81.42
5Y
474.13
68.62
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Kim Byeong-ok
- Full Time Employees
- 79
- Sector
- Industrial services
- Industry
- Engineering & construction
- Address
- 16F, 184, Jungang-daero, Dong-gu Busan BU South Korea 48731
- IPO Date
- Feb 15, 2002
- Website
- lsmarinesolution.co.kr
- Similar Companies
- Business
- LS Marine Solution Co Ltd operates as a leading company in the marine cable industry, specializing in the construction, installation, and maintenance of submarine communication and power cables. Founded in 1995 and headquartered in Busan, South Korea, the company provides comprehensive total marine solutions including submarine fiber optic cable installation; submarine power cable installation, connecting islands, offshore facilities, and mainland power sources; offshore plant construction; and offshore energy development services. It also offers assembly and installation services for drilling rigs used in deep-sea crude oil exploration and constructs and maintains submarine pipelines for crude oil and natural gas transport. Additional services include operation and maintenance of marine communication and power supply between land and offshore platforms, installation of deep-sea water pipelines, and marine mineral exploration initiatives. LS Marine Solution operates its own specialized vessels, such as the multi-purpose vessel SEGERO and remotely operated vehicles (ROVs), to execute complex offshore projects, including installation for offshore wind power construction through Service Operation Vessels (SOVs). In recent major developments, LS Marine Solution changed its name from KT Submarine Co., Ltd. to LS Marine Solution Co., Ltd. in August 2023. The company has embarked on significant strategic expansion by investing approximately KRW 345.8 billion (EUR 221 million) to acquire a new high-spec cable laying vessel designed for high-voltage direct current (HVDC) cable installation, with operations scheduled to commence in 2028. This new vessel, constructed by Tersan Shipyard in Turkey, will be Asia's largest vessel of its type with a cable loading capacity of 13,000 tonnes and is equipped with advanced sustainability and energy efficiency technologies. Furthermore, LS Marine Solution has secured a substantial order backlog amounting to approximately KRW 700 billion, representing five times its previous year’s revenue, underscoring its growth and strong market position. The company continues to enhance its technological leadership and service capacity to cater to expanding offshore wind power markets and other global submarine cable projects, reinforcing its status as a total marine solutions provider in both domestic and international markets.