LS Eco Energy, a subsidiary of LS Cable & System with a focus on Asia, has set its sights on submarine cables and rare-earth elements as key drivers for future business growth. CEO Lee Sang-ho emphasized the ongoing global demand for electricity over the next 15 years and beyond, highlighting the company's strategy to expand its cable business while also venturing into rare-earth elements and permanent magnet industries to sustain continuous growth. The company has committed to more than doubling its annual sales to 1.8 trillion won ($1.3 billion) by 2030, a significant increase from the 700 billion won achieved last year. Rare-earth elements such as neodymium and dysprosium, crucial for electric vehicles, wind power generators, and robots, are a focal point for LS Eco Energy. The company has already secured a rare-earth oxide off-take agreement with a Vietnamese mining firm and plans to commence commercial production this year, aiming for an annual output of 500 tons by next year. As the first overseas extra high voltage cable production base of LS Cable & System, LS Eco Energy in Vietnam plays a pivotal role in the company's global operations. With substantial sales coming from the US and Europe, LS Eco Energy is a major exporter in Vietnam. Additionally, the company is exploring opportunities to expand its submarine cable business in Europe and Vietnam, citing the growing demand for extra-high voltage submarine cables in large-scale maritime grid and offshore wind power projects. Notably, LS Eco Energy recently secured a contract to supply extra-high voltage cables to Energinet, a Danish state-owned energy company.