Seoul (VNA) - LS Eco Energy, the Vietnamese subsidiary of the Republic of Korea’s LS Cable & System, is planning to build submarine cable plants in Vietnam and Europe to capitalise on the soaring demand for extra-high-voltage submarine cables.
The company held a "Value Up Day" on May 30 where it unveiled its medium- and long-term growth strategy.
In the newly released strategy, it plans to enhance efforts regarding its submarine cable and rare-earth magnet business for its continuous growth. It also looks to raise sales by 2.5 times by 2030.
LS Eco Energy manufactures extra-high-voltage cables. The facility in Vietnam is the first overseas production base of LS Cable & System and has become the leading cable company in Vietnam. More than 30% of its revenue comes from the exports to North America and Europe.
LS Eco Energy plans to complete selecting investment locations for the submarine cable plants in Vietnam and Europe this year and start construction soon.
In Vietnam, a production site is set to be established under the partnership with the Petrovietnam Technical Services Corporation (PTSC)./.

See more

Strategic investors key to Vietnam’s international financial centre ambitions: Insiders
Vietnam’s roadmap to establishing international financial centres (IFCs) hinges not only on planning, infrastructure and human capital, but above all, on attracting strategic investors, according to experts.

Vietnam, Azerbaijan strengthen startup connections, expand digital investment cooperation
The event focused on strengthening bilateral cooperation in logistics, energy, technology, e-commerce, healthcare, and education. It also aimed to formalise strategic partnerships, improve legal frameworks, and connect resources among government agencies, enterprises, and startup support organisations from both countries.

Reference exchange rate going up on July 17
The State Bank of Vietnam set the daily reference exchange at 25,176 VND/USD on July 17, up 8 VND from the previous day.

Vietnam plant is a strategic export hub for Kumho Tire
Kumho Tire’s manufacturing facility in Vietnam has emerged as a strategic export hub for the Korean tire giant, driving growth in key international markets while showcasing remarkable progress in financial health.

Thai group opens 43rd shopping mall in Vietnam
With a total investment of 429 billion VND (about 16.4 million USD) and spanning 16,000 square meters, Go! Hung Yen is designed as a multi-functional commercial centre, aiming to meet the diverse needs of local consumers.

Vietnam’s credit conditions to remain stable in H2
Vietnam’s credit conditions will remain stable in the second half of 2025, supported by proactive fiscal measures and ongoing institutional reforms, according to analysts of the Vietnam Investors Service (VIS) Rating, an affiliate of Moody’s.

Vietnamese firms to continue presence at 4th Global Digital Trade Expo in China
Vietnam’s national pavilion at GDTE 2025 will span approximately 180 square metres and feature 15–20 standout enterprises in digital technology and e-commerce. Key sectors include information technology and digital transformation services such as augmented and virtual reality (AR/VR/XR/MR), artificial intelligence (AI) and large language models (LLMs), semiconductors, big data, cloud computing, blockchain, digital content, smart manufacturing, IoT, and related technologies.

AirAsia launches Hai Phong – Bangkok direct route
In conjunction with the launch, AirAsia is offering promotional one way fares starting from only 1,790 THB (55 USD). Tickets can be booked from July 16–27, 2025 for travel between July 28 and October 24, 2025 via AirAsia MOVE or www.airasia.com.

Hai Phong attracts over 15 billion USD in major investment commitments
Hai Phong boasts a strategic location with the international deep-water port of Lach Huyen, well-developed regional connectivity, specialised smart and green industrial zones, a plentiful labour force, and increasingly flexible investment incentives.

Hai Phong exhibition at ABAC 3 highlights local economy, specialties
The exhibition features seven modern booths in a 375 sqm space, designed to showcase the locality’s dynamic and friendly image, as well as its strong socio-economic growth and potential for investment and tourism.

Achieving 8.3–8.5% growth in 2025 “not impossible”: PM
While the goal is highly challenging, it is not impossible and must be achieved to create momentum for double-digit growth in the years ahead, said PM Pham Minh Chinh.

Vietnamese rice expertise delivers gains in Cuba’s struggling fields
"We did not bring just seeds, but our hearts. Our greatest success is seeing Cubans confidently adopt these techniques, moving toward food self-sufficiency, said a Vietnamese expert.

Businesses remain upbeat as industrial production poised to thrive in Q3
FDI enterprises are the most optimistic, with 81% forecasting better or stable conditions in Q3. Confidence is similarly high among domestic private firms (80.7%) and state-owned enterprises (79.8%).

Vietnam power & energy tech exhibitions open in HCM City
The 18th Vietnam International Exhibition on Electrical Technology and Equipment (Vietnam ETE 2025), the Products of Energy Saving & Green Power (Greenergy Expo (Greenergy Expo 2025), and ELECS Vietnam 2025, opened on July 16 in Ho Chi Minh City.

Petrol vehicle market stalls as consumer sentiment wavers
Directive 20 signals the beginning of a green revolution in urban transport. To realise its goals, experts agreed that comprehensive solutions - spanning finance, infrastructure, and communication, alongside coordinated action between government, businesses, and the public - are essential.

Vietnam’s industrial real estate market sees opportunities for sustainable development
Integrating ESG principles into industrial infrastructure can strengthen Vietnam’s competitive edge while promoting long-term sustainability, according to an expert from Savills Vietnam.

Fruit and vegetable exports expected to fall short of yearly target
Fruit and vegetable export turnover in June was estimated at 750 million USD, marking a surge of more than 50% from the previous month. This brought the total in the first six months of the year to 3.05 billion USD, a promising rebound after a difficult period.

PM calls for bold actions, determination to realise economic targets
PM Pham Minh Chinh announced the Government’s specific growth target of 8.3-8.5% for 2025 to lay a solid foundation for double-digit expansion in the 2026-2030 period, thus achieving the centennial development goals.

Reference exchange rate up 20 VND on July 16
The State Bank of Vietnam set the daily reference exchange at 25,168 VND/USD on July 16, up 20 VND from the previous day.

Nordic firms show long-term interest in Vietnam as investments increase
Among 72 countries and territories investing in Vietnam over the year's first half, Sweden emerged as the third largest investor, with a total investment of 1 billion USD or 10.8% of newly registered FDI, coming after only Singapore and China.