LS Group is expanding its telecommunications infrastructure and key mineral and rare metal businesses in three Central Asian countries. LS Cable is working on establishing a communication network in Turkmenistan, while LS MnM is focusing on mineral development in Tajikistan and building a rare metal industry ecosystem in Kazakhstan. The plan aims to combine power and communication infrastructure with Central Asia's resources to secure new markets and supply chains.
On September 17, LS announced that it signed three business cooperation memorandums of understanding (MOUs) with the three Central Asian countries during the Korea-Central Asia five-nation summit and business summit.
On September 15, LS Cable signed an MOU with the Turkmenistan Ministry of Communications to establish local telecommunications infrastructure. The two sides have been discussing plans for a local optical cable manufacturing facility and large-scale cable supply starting in 2024. They will further discuss specific business plans and timelines.
As the project progresses, the scope of cooperation could expand from cable supply to construction. LS Cable will supply submarine and communication cables, while its affiliate LS Marine Solutions has the capability for cable installation, potentially leading to large-scale infrastructure projects.
LS MnM is focused on securing Central Asia's abundant mineral resources. On September 14, it signed an MOU with the Tajikistan Ministry of Industry and New Technologies to develop minerals and create added value. Both parties will explore local mineral resource development and investment possibilities and promote information exchange for commercialization.
On September 16, LS MnM signed a multilateral MOU with the Korea Institute of Industrial Technology's National Rare Metal Center and the Satbayev University Metallurgy and Ore Beneficiation Research Institute in Kazakhstan for long-term cooperation in the rare metal sector. The plan is to establish a Korea-Kazakhstan rare metal industry ecosystem based on the cooperation center and expand technological and industrial collaboration.
Currently, LS MnM produces selenium, tellurium, and rhenium-based rare metals at its Onsan smelter and is also pursuing battery material projects involving nickel sulfate, cobalt sulfate, manganese sulfate, and lithium hydroxide. If mineral development in Central Asia translates into actual projects, it could broaden the supply chain from raw material procurement to smelting and material production.
This collaboration represents a shift in viewing Central Asia not just as a source of resources but as a market for local production, processing, and infrastructure projects. LS plans to expand business opportunities starting with telecommunications infrastructure and mineral development into the energy and materials sectors.
An LS official stated, "Central Asia has significant growth potential in energy infrastructure and key minerals, based on advanced telecommunications infrastructure and abundant mineral resources. We aim to leverage our expertise in power, telecommunications infrastructure, and resource and material technology to expand new market avenues and contribute to strengthening supply chains and industrial cooperation between Korea and Central Asia."
* This article has been translated by AI.
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