LS Cable & System Invests $107 Million to Build Korea Rare Earth Magnet Plan

Highlights

• LS Cable & System will invest $107 million to build a permanent-magnet plant in Gumi, South Korea through wholly owned Korea Motion Works.
• Affiliate LS Eco Energy is investing $8.3 million in a 240-tonne-per-year samarium-metal facility in Vietnam, with trial production planned for December.
• Australia's Lynas Rare Earths supplies upstream separated rare-earth material, forming a Lynas → Vietnam → Korea allied supply chain.
• U.S. defense procurement restrictions on SmCo supply chains tighten from January 2027, boosting strategic value of qualified non-Chinese sources.
• The chain targets the critical 'missing middle' of metallization—converting oxides into metals, alloys, and magnets—where China holds a dominant advantage.