LS Cable & System Enhances ESG Management with Major Solar Power Installation

LS Cable & System has announced the full-scale operation of a 3,000 kW solar power generation system at its submarine cable factory in Donghae, Gangwon State. This development, unveiled on April 7, marks an important step in the company’s efforts to achieve carbon neutrality and enhance its environmental, social, and governance (ESG) management framework.

The newly established solar system is expected to produce approximately 3,600 MWh of electricity annually, which is equivalent to the annual consumption of about 1,200 households. LS Cable & System anticipates saving over 7 billion won in electricity costs over the system’s lifespan. This initiative aligns with the company’s broader strategy to reduce electricity expenses while bolstering eco-friendly production capabilities.

This move follows LS Cable & System’s achievement in December of last year when it became the first in the domestic cable industry to receive official approval for its carbon neutrality goals from the Science Based Targets initiative (SBTi). The company has laid out a mid- to long-term reduction roadmap aiming for net-zero greenhouse gas emissions by 2050.

A company official emphasized the significance of this achievement: “Achieving the goal of 100% renewable energy conversion at the Donghae site through this solar system implementation is significant.” The company plans to expand its renewable energy adoption across both domestic and international sites. This expansion aims to establish a low-carbon supply chain that meets RE100 (Renewable Energy 100%) and SBTi standards while also addressing customer demands.

LS Cable & System’s commitment to sustainability is underscored by its role as a leading South Korean manufacturer specializing in cables, including power cables and telecommunications systems. The production of submarine cables is notably energy-intensive, making this shift towards renewable energy sources particularly impactful. By integrating solar power into its operations, LS Cable & System not only reduces its carbon footprint but also aligns with South Korea’s national energy policy push towards renewable energy and reduced reliance on fossil fuels.