The industrial conglomerate has selected a candidate site in Virginia and is now reviewing the feasibility of the project.
South Korean industrial corporation LS Cable & Systems (LS C&S) is considering building a rare earth permanent magnet manufacturing plant in the United States. The company announced on Monday that it has selected a new investment candidate site in Chesapeake, Virginia, and is currently reviewing the project and its feasibility. LS C&S is one of the world’s largest cable manufacturers and produces a wide range of industrial materials. In its press statement, the company said the proposed facility would target major automotive manufacturers and electronic equipment producers, supplying permanent magnets used in electric vehicle drivetrains, for example.
One of LS C&S’s subsidiaries, LS GreenLink, is currently constructing a submarine cable manufacturing facility near the proposed magnet plant site, potentially enabling shared infrastructure and logistics.
The prospective U.S. plant would also build on LS C&S’s broader push into the rare earth magnet market. In 2024, the company entered into a joint venture framework with German permanent magnet maker Vacuumschmelze (VAC) to support large-scale production of neodymium-based magnets. Through its materials subsidiaries, LS C&S is working to secure upstream access to rare earth feedstock and establish a vertically integrated magnet supply chain spanning Asia, Europe, and North America.
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