South Korean wire and cable-maker LS Cable & System said Thursday it has won deals worth a combined $100 million to supply submarine cables to the U.S. and Canada. 
LS Cable will replace undersea cables for the New York Power Authority under a deal worth $47 million. The South Korean firm said it also won a separate $54 million deal from Canada.

LS Cable currently operates Asia’s largest undersea cable-producing plant.

The global market for undersea cables is expected to reach 8 trillion won ($6.6 billion) in 2018, more than double the figure for this year.

Meanwhile, the company’s Vietnamese unit is seeking to get listed on the South Korean stock market.

LS Cable Asia, set up in April last year, has two local operations under its wing and is the largest cable-maker in Vietnam with a 30 percent market share.

(khnews@heraldcorp.com)