Korean cable makers are increasing their output rapidly to meet the soaring global demand amid the need to replace worn-out equipment and construct more data centers worldwide due to the popularity of generative artificial intelligence, according to industry officials, Monday.
LS Eco Energy, a subsidiary of South Korean chaebol LS Group, will cooperate with Vietnam on commercializing superconducting cables that can be connected to the national power grid.
LS Cable & System, through its subsidiary LS Eco Advanced Materials, has partnered with European magnet manufacturer Vacuumschmelze to create a joint venture aimed at making special magnets needed for electric vehicles. Announced on Wednesday, this partnership will start producing 1,000 tons of neodymium permanent magnets annually by 2027, enough for half a million electric cars. Neodymium permanent magnets are c.