LS Eco Energy to help Vietnam commercialize superconducting cable

LS Eco Energy, a subsidiary of South Korean chaebol LS Group, will cooperate with Vietnam on commercializing superconducting cables that can be connected to the national power grid.

The firm said Tuesday that it has signed a memorandum of understanding with the Institute of Energy under the Vietnamese Ministry of Industry and Trade. Under the MoU both sides would establish a mutual cooperation system to apply superconducting cables to Vietnam's power grid and explore business opportunities thereof.

In 2019, LS Cable & System, now known as LS Eco Energy, succeeded in commercializing the world's first superconducting cable at the Heungdeok-Singal substation section in Yongin-si town, Gyeonggi-do province, South Korea. It is still the only commercially-operated line in the world, LS Eco Energy said.

Superconducting cables can deliver five to 10 times more electric power at a lower voltage than copper cables. They also minimize electricity loss during transmission by applying superconductivity.

Vietnam recorded electricity loss of 6.25% in 2022, according to state utility Vietnam Electricity (EVN). The figure was down from 8.87% in 2013 and 6.27% in 2021. EVN attributed the losses to technical issues like electrical resistance and unwanted heating during electricity transmission. Non-technical factors like stealing also contributed to the loss, EVN said.