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Area Development - Site Selection, Facility Planning and Workforce Development

South Korea-based LS Cable & System Plans Chesapeake, Virginia, Manufacturing Operations

07/15/2024
South Korea-based LS Cable & System, a submarine cable manufacturer, plans to establish production operations in Chesapeake, Virginia. The $681 million project is expected to create 330 jobs.

The new 750,000-square-foot high-voltage direct current submarine cable manufacturing facility, located at the Deep Water Terminal Site, will serve the global offshore wind industry. Operations are scheduled to begin by 2027.

"This state-of-the-art facility represents our commitment to pushing the boundaries of technology and engineering," said Koo Bon-kyu, CEO of LS Cable & System. "This facility will not only enhance our capability to meet the growing global demands for submarine power cables but will also position us at the forefront of the industry."

The Governor's office approved a $13.2 million grant from the Commonwealth’s Opportunity Fund to assist the City of Chesapeake with this project. The company is also eligible to receive state benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.

“We are proud that LS GreenLink has chosen the Commonwealth of Virginia to build its submarine cable facility and become a partner in advancing our goal of becoming the market leader in offshore wind technology, development, and deployment,” noted Secretary of Commerce and Trade Caren Merrick.

Support for LS GreenLink USA’s job creation will be provided through the Virginia Talent Accelerator Program. The program was created by VEDP in collaboration with higher education partners, with funding support from the Governor’s administration and the Virginia General Assembly.

“This significant investment by a world-leader in subsea cable manufacturing enhances Virginia’s reputation as the East’s premier offshore wind logistics hub,” added CEO and Executive Director of the Virginia Port Authority Stephen A. Edwards. “This strategic decision demonstrates how competitive Virginia is in attracting world-class industry and how the offshore wind industry in Virginia is gaining momentum. The port is ready to support GreenLink’s nearly $700 million investment in Chesapeake, and we look forward to building a collaborative and productive relationship with the newest member of the offshore wind community.”

The Virginia Economic Development Partnership (VEDP) worked with the City of Chesapeake, the Hampton Roads Alliance, and the Virginia Maritime Association to secure the project.

“I would like to congratulate LS GreenLink USA on the decision to locate their first US offshore wind cable manufacturing facility in the City of Chesapeake,” said Hampton Roads Alliance President and CEO Doug Smith. “This is a significant event. In addition to the direct benefits to the Hampton Roads economy, this decision reflects our region’s desire and ability to serve as one of the primary hubs of the offshore wind industry in the US. We eagerly celebrate this announcement and will continue working to grow the offshore wind industry in Hampton Roads.”

LS GreenLink is a wholly owned subsidiary of LS Cable & System, Ltd. (LS C&S), a global leader in power and communication cable and system solutions. Founded in 1962, LS C&S develops and provides cable solutions for power grids and communication networks around the world. LS C&S has over 6,450 employees and 35 subsidiaries in 17 countries. LS C&S is a subsidiary of LS Corp., a global industrial conglomerate headquartered in South Korea.

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