The two sides plan to seek business opportunities to install superconducting cables on Vietnam's power grid.

Lee Sang-ho, CEO of LS Eco Energy, said, “In Vietnam, electricity shortages will worsen due to urbanisation and the construction of large-scale data centres by global companies. We will rely on our existing experience operating in Vietnam and LS Cable's high technology to expand our business in the country."

In 2019, LS Cable & System succeeded in commercialising the world's first superconducting cable at the Heungdeok-Singal substation area in Yongin-si, Kyunggi-do. To date, this is the only transmission line in the world that is in commercial operation.

Superconducting cables take advantage of the phenomenon of superconductivity, in which resistance disappears at low temperatures, to maximise transmission efficiency. If capacity expansion is needed due to overload, just replace the cable, and transmission capacity can be increased by more than five times.

In addition, when building a new urban area, the cost of rough construction can be reduced to less than 1/20 by replacing 3m electrical pipes with metre-long pipes. This system does not produce electromagnetic waves so there are no impacts on the environment. At the same time, the scale and number of substations and transmission towers can be reduced.