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LS Cable acquires submarine cable engineer KT Submarine

 Last Update: 2023-01-06
 Source: Internet
 Author: User

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LS Cable & System, a cable manufacturing subsidiary of LS Group, will invest KRW 25.
2 billion (approximately USD 17.
6 million) in KT Submarine to support its submarine cable business
.

The company will acquire a total of 4.
04 million shares, equivalent to 16% of KT Submarine, making it the company's second-largest shareholder
.

KT Submarine, a subsidiary of the KT Group, was founded in 1995 and has been engaged in the construction of submarine cables and offshore equipment and the development of
offshore energy.

LS Group said of the transaction: "We will continue to empower KT Submarine's advanced submarine cable construction business overseas in combination with our submarine cable manufacturing technology
.
"

LS Cable & System, a cable manufacturing subsidiary of LS Group, will invest KRW 25.
2 billion (approximately USD 17.
6 million) in KT Submarine to support its submarine cable business
.

The company will acquire a total of 4.
04 million shares, equivalent to 16% of KT Submarine, making it the company's second-largest shareholder
.

KT Submarine, a subsidiary of the KT Group, was founded in 1995 and has been engaged in the construction of submarine cables and offshore equipment and the development of
offshore energy.

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