South Korean LS Cable & System Invests $689 Million in Virginia Manufacturing Hub

LS Cable & System Ltd., a South Korea–based industrial manufacturer, announced a $689 million investment to establish a comprehensive manufacturing complex in Chesapeake, Virginia. The facility will produce copper rod, magnet wire, and rare earth magnets—critical components for energy infrastructure and advanced technology applications.

The project represents a significant expansion of LS Cable & System’s U.S. manufacturing footprint and is expected to generate over 430 jobs in the region. According to President and CEO Bon Kyu Koo, the investment addresses broader economic priorities: “We’re not only expanding our manufacturing capabilities, we’re strengthening the U.S. domestic supply chains and supporting America’s leadership in energy and technology.”

The Chesapeake facility will position LS Cable & System as a key supplier for domestic industries reliant on high-quality electrical and magnetic components. The investment underscores growing interest from international manufacturers in establishing U.S.-based production to meet domestic demand and reduce supply chain vulnerabilities.