[Market Feature] LS Cable & System Asia Surges on Expectations of Asian Subsea Cable Market Boom...Hits Record High

LS Cable & System Asia saw its stock price rise amid expectations that it will benefit from the burgeoning Asian subsea cable market, hitting a new 52-week high during intraday trading.

As of 9:20 a.m. on October 28, LS Cable & System Asia was trading at 19,780 won on the Korea Exchange, up 820 won (4.32%) from the previous day. During the session, the stock climbed as high as 20,600 won, setting a new 52-week high.

On this day, KB Securities identified LS Cable & System Asia as the biggest beneficiary of the opening of the Asian subsea cable market. Kim Seonbong, a researcher at KB Securities, stated, "LS Cable & System Asia's market share in Asia is expected to rise from 4% in 2026 to 31% in 2032, with operating profit from subsea cables projected to grow from 6 billion won in 2025 to 205.3 billion won in 2032, representing an annual growth rate of 65.6%." He explained, "LS Cable & System Asia accounts for 43% of global cable companies' investments in Asian facilities, making the most aggressive investments, and is also considering building new cable-laying vessels. If confirmed, the company's domestic market share is expected to rise to 50%." KB Securities forecasts that the Asian (excluding China) offshore wind power cable market will grow from 700 billion won in 2025 to 4.4 trillion won in 2032, with an average annual growth rate of 29.5%.

This content was produced with the assistance of AI translation services.