Photograph) LS Marine Solution's submarine cable laying vessel GL2030


■ Performance reflects large-scale submarine and underground cable projects in Taiwan and Singapore  
■ Order backlog now approximately three times annual revenue
■ Ramping up expansion into offshore wind power and West Coast HVDC projects with upgraded cable laying vessel


LS Marine Solution has achieved its best-ever first-half performance, buoyed by its expanding submarine and onshore construction businesses. 

The company announced its figures for the first half of 2026 on the 5th, including consolidated revenue of KRW 148.2 billion, an operating profit of KRW 10.3 billion, and a net profit of KRW 13.1 billion. These represent increases of approximately 33%, 61%, and 217%, respectively, compared to the same period last year, and mark all-time half-year highs. 

This performance was mainly driven by the submarine cable burial project for the Taiwan Power Company's offshore wind farm (TPC2) and submarine communication cable installation projects in the Asia-Pacific region. Subsidiary LS Buildwin also contributed to LS Marine Solution’s earnings growth through the execution of large-scale extra-high-voltage underground cable projects in Singapore, Taiwan, and Saudi Arabia. 

In addition, LS Marine Solution has seen its order base expand rapidly, and currently has a backlog of approximately KRW 660 billion on a consolidated basis. This is about three times the company’s 2025 revenue of KRW 244.2 billion, demonstrating a solid foundation for mid-to-long-term growth. 

Growth momentum is expected to continue, with the company being selected as the preferred bidder for a series of large-scale projects, including the Sinan Ui and Taean offshore wind power projects, and the West Coast HVDC Energy Highway project moving into full swing. With the deployment of the recently upgraded GL2030 laying vessel, the company is well-positioned to win more large-scale projects. 

"We will continue this growth trajectory by growing our offshore wind power business, participating in the West Coast HVDC Energy Highway project, and further expanding into the global market," said a company spokesperson. "We will continue to advance our domestic and international power infrastructure businesses by drawing on our comprehensive construction capabilities in both the submarine and onshore sectors." 
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