LS Cable & System Establishes Rare Earth and Permanent Magnet Production Bases in Vietnam and Gumi (Roundup)
6 Articles
6 Articles
LS Cable & System has invested 150 billion won in Korea Motion Works, a newly established company, to enter the rare earth permanent magnet business. This is a strategic business expansion aimed at building a supply chain for high-performance magnets essential for advanced industries such as electric vehicles, robots, and defense, and reducing dependence on China.
연합뉴스-Yonhap News Agency
asiae.co.kr(Seoul = Yonhap News) KOSPI-listed company LS [006260] announced that its subsidiary, LS Cable & System, acquired 150 million shares of Korea Motion Works, a rare-earth permanent magnet manufacturing and sales affiliate...
Amid the restructuring of global supply chains, Gumi City in North Gyeongsang Province is emerging as Korea's first large-scale production base for "rare earth permanent magnets," a key national strategic material. The city has reached a critical turning point in transforming its fundamental nature from a traditional industrial complex structure centered on simple assembly and subcontracting into a "Global Strategic Materials Security Hub" that …
[Digital Daily Reporter Choi Min-ji] LS Cable & System is establishing a non-China supply chain by setting up production bases for rare earth elements and rare earth permanent magnets in Vietnam and Korea, respectively. Rare earth permanent magnets are used not only in electric vehicles and robots but also in advanced weapon systems such as fighter jets and missiles. The problem is that China effectively dominates the rare earth supply chain. A…
LS Eco Energy to Produce Metals in Vietnam
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