LS C&S Gumi plant in Gumi, North Gyeongsang Province (LS C&S)
LS Cable & System said Friday it won a contract worth 100 billion won ($82 million) to supply electrical cables in Singapore.
Under the deal, LS C&S will provide high- and low-voltage cables that will stretch 400 kilometers through Singapore, through 2021.
The company said it has a strong foothold in Singapore, obtaining the biggest market share there. The orders have been placed by the Singaporean government to replace aged high-voltage cables for consecutive years since 2017.
The company said its efforts to raise transparency in operation and management of its business there, and active technological support for the past several years, led to clinching the latest deal successfully.
“To overcome the global economic slowdown and the limited domestic demand, we have established a strong foothold overseas as a global company,” LS C&S President and CEO Myung Roe-hyun said.
“This deal is a valuable achievement based on past efforts at a difficult time due to the COVID-19 crisis.”
By Jo He-rim (firstname.lastname@example.org