South Korea-based LS Cable & System has announced plans to invest an additional $689 million in a large-scale manufacturing campus in Chesapeake, Virginia, significantly expanding its presence in the United States. Virginia Governor Glenn Youngkin confirmed that construction is expected to begin in 2026, with the project being developed through three of the company’s subsidiaries, including LS Greenlink USA.
The new manufacturing complex is set to create 430 jobs and will play a strategic role in strengthening U.S. domestic supply chains. According to state officials, the facility aims to reduce reliance on what they described as a monopoly of Chinese suppliers by establishing local production of magnetic copper wire and rare earth magnets—critical components for energy, automotive, industrial and defense applications.
The campus will feature advanced manufacturing operations across three core business lines: copper rod production using recycled and smelted materials, magnet wire manufacturing for automotive and industrial markets, and rare-earth magnet production for electric motors and defense systems. These magnets are expected to support high-profile defense programs, including Lockheed Martin and Raytheon’s Javelin missile system and the F-35 fighter jet.
“This investment represents an exciting step in our continuing growth in the United States,” said Bon-Kyu Koo, president and CEO of LS Cable & System. “Beyond expanding our manufacturing capabilities, we are reinforcing U.S. supply chains and contributing to America’s leadership in energy and advanced technology.”
The announcement builds on LS Cable & System’s earlier $680 million investment in a high-voltage direct current (HVDC) submarine cable manufacturing and port facility in Chesapeake, which broke ground in April through LS Greenlink USA. The first phase of that project is expected to be completed by the third quarter of 2027, with full operations targeted for the first quarter of 2028. Additional expansion phases are planned to meet growing global infrastructure demand.
To support the new investment, Governor Youngkin approved a $7.3 million state grant, along with a $1.5 million performance-based incentive. The company is also eligible for the Port of Virginia’s economic and infrastructure development grant program. Workforce development will be supported by the Virginia Talent Accelerator Program, which provides customized recruitment and training services in partnership with the state’s community college system at no cost to qualifying companies.
