LS Cable & System announced on April 10 that it would set up new optical cable manufacturing facilities in LS EV Poland by investing 11 million euros. The new facilities to be housed in the factory located in the southwestern region of the country are likely to be the first optical cable manufacturing facilities in Europe in the electric wire industry of South Korea.
Production is scheduled to be initiated in April next year after preparation is completed late this year. The annual optical cable production capacity of LS EV Poland is estimated to reach three million fiber kilometers, which is equivalent to 7% of the European optical cable market.
At first, LS EV Poland was established late last year for vehicle battery component production. LS Cable & System recently decided to add optical cable production lines to the factory with demands for 5G infrastructure on the rise in Europe.
These days, LS Cable & System’s optical cable sales are growing in the European market. In the first quarter of this year alone, the company clinched new contracts with a total value of 70 billion won in France and Italy. For reference, the total value of the orders the company received last year in the entire European market was approximately 50 billion won. The company is planning to increase its share in the European market, which is less than 3% now, to at least 10% by making use of the new facilities.