Photograph) Panoramic view of LS-VINA, LS Eco Energy's production subsidiary in Hai Phong


■ Supply of extra-high-voltage cables reaffirms company’s #1 position in local market
■ Urbanization and expanded power investments strengthening foundation for mid-to-long-term growth
■ Accelerating foray into global market by securing qualifications to supply 230 kV cables to the US


LS Eco Energy announced on the 22nd that its Vietnamese production subsidiary, LS-VINA, has supplied extra-high-voltage cables for Vingroup's new city development project in Hai Phong. 

LS-VINA is the market leader in Vietnam, with an approximate 80% share of the extra-high-voltage cable market. Through this order, it has cemented its position as a core supplier for local power infrastructure. 

Vingroup, Vietnam's largest private enterprise in the real estate, retail, automotive, and energy sectors, is currently constructing Vinhomes Vu Yen, a mixed-use new city in Hai Phong with residential, commercial, and tourism facilities. Vingroup is a leader in urban development across Vietnam, so additional future orders are anticipated. 

This growing demand is supported by accelerating urbanization in Vietnam. The government aims to achieve a 50% urbanization rate by 2030, and the 8th National Power Development Plan has driven power generation and transmission investments worth approximately KRW 200 trillion. 

As the sole manufacturer of extra-high-voltage cables in Vietnam, LS-VINA is a direct beneficiary of this expansion in structural investment. Based on its market dominance in Vietnam, the company expects to see current revenue growth continue in the mid- to long-term. 

LS Eco Energy's first-quarter revenue and operating profit for 2026 increased by approximately 30% year-over-year, with revenue reaching a quarterly all-time high. Notably, the company’s overall growth has been led by a 177% surge in sales of extra-high-voltage cables driven by power grid investments and rising demand from AI data centers. 

"As urbanization aligns with an expansion in power investment, LS-VINA's foundation for mid-to-long-term growth is rapidly expanding," an official from LS Eco Energy said. "We have also recently laid the groundwork for entering the North American market by obtaining quality certification for 230 kV-class extra-high-voltage cables from a global certification authority." 

Since entering the domestic Vietnamese market as LG-VINA in 1994, LS-VINA has grown into Vietnam's top cable exporting company as well as the largest cable company in ASEAN, with an annual revenue of approximately KRW 1 trillion.