LS Cable & System Reports Record Sales; Unison Secures Offshore Wind Contract
LS Cable & System projected 2025 sales at KRW 7.59 trillion, with a 12.2% YoY increase. Unison signed a KRW 99.3 billion contract for offshore wind turbines, enhancing its market position.
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LS Cable & System anticipates sales of KRW 7.59 trillion in 2025, marking a 12.2% increase from the previous year, alongside an operating profit of KRW 279.8 billion, a rise of 1.9%. The order backlog reached KRW 7.63 trillion, up 22% YoY, driven by demand for HVDC systems and subsea cables.
Unison has secured a KRW 99.3 billion contract to supply twelve 6.35MW wind turbines for the Gochang offshore wind farm in South Korea, representing 246.57% of its last year's revenue. The contract extends until June 2030 and will be executed in collaboration with POSCO E&C. As both companies aim to leverage this project for future offshore wind opportunities, market dynamics may shift towards increased competition in this sector.
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