LS Eco Energy, a company specialising in renewable energy and rare earth elements under the Republic of Korea (RoK)'s LS Cable & System, announced on December 17 that it has approved a plan to expand its rare earth metal business in Vietnam, in a bid to seek long-term growth in the strategic materials sector.

LS Eco Energy factory.

The new investment is valued at approximately 28.5 billion KRW (19.2 million USD), part of which will be funded through the sale of treasury shares.

LS Eco Energy plans to raise around 10.7 billion KRW by selling 297,303 treasury shares to its largest shareholder, LS Cable & System. The company aims to create an integrated value chain, including raw materials, rare earth oxides, and refined metals.

According to the plan, rare earth oxides supplied by global mining companies will be processed into metals at LS Eco Energy’s facilities in Vietnam, with downstream applications such as permanent magnets being produced through LS Cable & System's overseas operations.

LS Eco Energy intends to establish a rare earth metal refinery at LS Cable & System's branch in Ho Chi Minh City (LSCV), where it will refine rare earth oxides sourced from mining companies to produce rare earth metals.

The company is currently in negotiations with several global mining firms to supply rare earths and establish a joint venture (JV). The final investment amount may be adjusted based on the JV's equity ratio and the progress of the business.

Rare earth metals are crucial for manufacturing permanent magnets used in the motors of robots, wind turbines, and electric vehicles.

According to LS Eco Energy CEO Lee Sang Ho, the decision to expand investment in Vietnam represents an opportunity to transition the rare earth project into the investment and construction phase.

The company will officially expand its business from the current focus on cables to the core strategic materials sector.

RoK supports SMEs in securing stable production bases in Vietnam

The newly signed MoU aims to assist the global expansion of Korean SMEs, which have been increasingly challenged by rising protectionism and tightening trade regulations. Its key objective is to help Korean small-scale manufacturing firms secure stable production bases in Vietnam, a fast-growing economy, thereby enhancing their competitiveness in international markets, including Southeast Asia.

 

Vietnam, RoK pledge closer legislative, economic collaboration

The National Assemblies of Vietnam and the Republic of Korea (RoK) will maintain regular exchanges of high-level delegations to share legislative experience, improve the legal framework for sustainable development, and enhance their role in overseeing the implementation of international treaties and bilateral agreements.

 

RoK’s top legislator arrives in Hanoi, starting official visit to Vietnam

Speaker of the National Assembly of the Republic of Korea (RoK) Woo Won Shik and his spouse arrived in Hanoi on November 20 morning, beginning their three-day official visit to Vietnam, at the invitation of Chairman of the National Assembly (NA) Tran Thanh Man.

 

Vietnam, RoK forge stronger parliamentary cooperation

The official visit to Vietnam by Speaker of the National Assembly of the Republic of Korea (RoK) Woo Won Shik and his spouse continues the recent momentum of high-level exchanges between the two countries, underscoring the closeness and political trust that characterise the Vietnam–RoK Comprehensive Strategic Partnership.

 

Vietnam, RoK step up journalism cooperation in AI era

The Vietnam Journalists Association (VJA) and the Journalists Association of Korea (JAK) agreed to continue promoting journalist exchanges, thematic workshops, and professional training programmes, particularly in the fields of digital transformation, multi-platform journalism, and professional ethics in the new media environment.

 

Vietnam, RoK promote cooperation in labour management, sustainable migration

Vietnam currently ranks first in the number of workers employed in the RoK under the EPS programme. The proportion of irregular Vietnamese workers has fallen to around 19%, surpassing the set target.