LS Marine Solution, represented by Kim Byeong-ok, has secured the nation's largest submarine cable construction contract, laying the groundwork for a major offshore wind project push.
LS Marine Solution announced on September 18, 2026 that it has signed a submarine cable construction contract worth approximately 156.9 billion won for the Sinan Ui offshore wind project in Jeollanam-do with Hanwha Ocean. This is the largest contract since the company's founding, equivalent to approximately 2.2 times the annual revenue of 72.2 billion won on a separate basis last year.
The Sinan Ui offshore wind project has a capacity of 390 megawatts and is the first project in the 8.2 gigawatt-scale Sinan offshore wind belt. It is the first national growth fund project and the first large-scale offshore wind project pursued with purely domestic capital, and is evaluated as a representative case demonstrating the competitiveness of the domestic offshore wind supply chain.
LS Marine Solution will perform all processes from transportation to laying and burial of submarine cables from the second half of this year through 2028. The company plans to use this contract award as a springboard to expand participation in large-scale offshore wind projects, including follow-up projects in the Sinan offshore wind belt.
The company stated that submarine cables can have a major impact on the stability of the national power grid and energy security if failures occur after installation, and that since recovery requires substantial costs and time, experience in executing large projects and verified construction capabilities are key to business competitiveness.
Based on its number-one domestic submarine cable construction experience accumulated in projects such as Jeonnam P1 - SK E&S and the Jeju undersea links 2 and 3, LS Marine Solution is expanding its business into the global market, including winning the Korea-Japan undersea communications network (JAKO) project being pursued by Microsoft and Amazon.
An LS Marine Solution official said the company will expand participation in follow-up projects in the Sinan offshore wind belt and national key power grid projects such as the West Sea HVDC energy superhighway, and will also begin full-scale efforts to enter global markets including the United States and Europe based on LS Cable's US submarine cable production facility, LS Green Link.
KWI developer profile — Hanwha Ocean
4 projects in Korea totalling 1,730 MW. Compiled from the KWI database. Not part of the source article.
Sinan Ui Offshore Wind — this article
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ChilHae 1 Offshore Wind
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ChilHae 2 Offshore Wind
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Boryeong Nokdo Offshore Wind
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Related coverage
- Hanwha Ocean Sinan-Ui offshore wind faces unresolved military coordination — 2026-09-17
- Sinan-Ui 3.4 trillion won offshore wind project evades feasibility review — 2026-09-07
Project data: KWI database — Electricity Business Licence records, EIA filings (ME2021C012, ME2026C003, ME2026C014), Electricity Regulatory Commission minutes, and pre-EBL permit filings.
Original Korean article: Energy Daily
English brief by Korea Wind Intelligence, koreawindintel.com
