LS Cable & System Ltd., a Korean provider of power and communication cable and system solutions, announced plans to establish a $689 million manufacturing complex in Chesapeake, Virginia. Undertaken through three LS C&S subsidiaries, the company estimates the project will create over 430 new jobs.
The Virginia Economic Development Partnership (VEDP) stated that the complex will feature copper rod production, magnet wire manufacturing for automotive and industrial markets and rare earth magnet production for electric motors and advanced weapons systems. The company already supplies rectangular magnet wire to General Motors and Hyundai.
The development builds on the previously announced first phase of LS GreenLink USA’s submarine cable manufacturing and pier facility project, which broke ground in April 2025. The company expects both initiatives to strengthen U.S. energy infrastructure, enhance supply chain resilience and support national security priorities.
"LS GreenLink has already brought hundreds of millions of dollars to Hampton Roads, and these three projects from LS Cable and Systems will build on that success," Virginia Gov. Glenn Youngkin said. "As we develop the future of American energy and infrastructure, unfettered access to copper products and rare earth magnets will become even more crucial."
LS C&S plans to evaluate several sites in the Chesapeake area for the new investment and identified a location near the submarine cable plant as the leading candidate.
The Virginia Economic Development Partnership worked with the City of Chesapeake, the Hampton Roads Alliance and The Port of Virginia to secure the project for Virginia. Gov. Youngkin approved a $7.3 million grant from the Commonwealth’s Opportunity Fund and $1.5 million in performance-based funding from the Virginia Investment Performance Grant to assist Chesapeake with the project. The company is eligible to receive benefits from The Port of Virginia Economic and Infrastructure Development Zone Grant Program.
The Virginia Talent Accelerator Program will provide support for job creation. The program offers services at no cost to qualified new and expanding companies.
Founded in 1962, LS C&S employs over 6,500 workers and operates 40 subsidiaries in 17 countries.
