South Korean cable manufacturer LS Cable & System is expanding its Donghae factory to meet the increasing demand for subsea cables.
The company signed a contract on 23 February for the purchase of the expansion site with the city of Donghae.
The new factory will include manufacturing facilities, submarine cable storage, warehouse, a research and development (R&D) center, among others.
Approximately KRW 80 billion (around €59.8 million) will be invested in the project until 2025.
LS Cable & System expects that the project will also have a positive impact on the mutual growth of local companies, employment of citizens, and reviving the local economy.
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