LS Cable Asia changes company name to LS Eco Energy, promotes rare earth business, etc. = South Korea

On the 27th, major electric cable company LS Electric Wire Asia announced that it will move forward with new businesses such as submarine cables and rare earths. In line with this, the company plans to change its name to LS Eco Energy. electric power
The company's intention is to expand its traditional business, which has centered on communications cables and telecommunications cables, into submarine cables and rare earths, and to become an environmentally friendly energy company.
In connection with this, in October, the company announced that it is looking to cooperate in the submarine cable business with PetroVietnam Technical Services (PTSC), a subsidiary of Vietnam's PetroVietnam Group PVN.
The two companies strengthened their submarine cable business by signing a memorandum of understanding (MOU). The company will also promote business related to rare earth oxides. Trading companies and permanent magnet companies inside and outside Korea sell neodymium etc. refined overseas.
Supply to etc. Lee Sang-ho, CEO of the company, said, ``In addition to aiming for the next stage of growth through new businesses, we will also contribute to South Korea's policy to strengthen its rare earth supply chain.''
LS Cable Asia will hold an extraordinary general meeting of shareholders on December 12th, and plans to pass a resolution on changes to its articles of incorporation, which include details regarding the company name.