Planned Chesapeake plant is vital link in global offshore wind supply chain
The Speaker:
Patrick Y. Shim is the managing director of LS Cable & System Ltd.
He is a senior executive member of the company, responsible for the firm’s corporate strategy, planning, expansions, investments, and operations in North America.
Founded in 1962, LS C&S is a global leader in power and communication cables and systems, which develop and provide cable solutions for power grids and communication networks around the world. LS C&S has over 6,500 employees and 35 subsidiaries in 17 countries. LS C&S is a subsidiary of LS Corp., a global industrial conglomerate based in South Korea, which spun off from LG in 2003.
Shim previously held a management position at Mirae Asset Securities & Investments, the U.S.-based investment banking operation of Mirae Asset Financial Group, a global financial institution with over $550 billion under management. At Mirae Asset S&I, Shim served as its managing director and focused on private equity and real estate investments, as well as the firm’s strategic investments, in the United States, Canada, and Mexico.
He also served in a senior role at Hana Financial Inc., a California-based diversified financial institution, as its senior vice president of Corporate Strategy and Administration. He previously held various positions at Ridgestone Corp., Citigroup Global Markets, Wells Fargo & Co., and 1927 Capital Management LLC.
Shim received a bachelor’s in Economics from Claremont McKenna College.
Matt Smith is director of the energy and emergy technologies for the Hampton Roads Alliance, the leading economic development organization for Hampton Roads.
He joined the Hampton Roads Alliance in August 2020 as the organization's director of offshore wind business development. In 2022, his role expanded to cover the wider energy and water technology sectors. He leads the effort to create a supply chain development initiative to promote the emerging offshore wind industry and to position similar energy-based industries for growth in the Hampton Roads region.
Smith is a native of Hampton Roads. He has a master’s degree in Urban and Regional Planning from Virginia Commonwealth University and a bachelor’s in American History from Washington and Lee University.
New offshore wind plant to bring massive 660-foot tower
Tune in to a webinar on Wednesday December 4 at noon to learn about LS Greenlink USA’s planned $680 million investment in a state-of-the-art manufacturing facility in Chesapeake that will bring with it a massive 660-foot tower – the tallest building in Virginia.
The webinar also will highlight the growing offshore wind industry in Hampton Roads.
This new facility will produce high-voltage submarine power cables, vital for offshore wind farms and clean energy transmission worldwide.
Plans by LS Greenlink, a subsidiary of South Korean-based LS Cable & System, call for the 750,000-square-foot manufacturing plant on 100 acres. It is expected to create more than 330 full-time jobs.
At its height, the plant’s tower is expected to exceed the height of The Westin Virginia Beach Town Center, which stands 508 feet tall.
Patrick Y. Shim, managing director of LS GreenLink, will explain during the webinar why such a tall tower is needed (hint: it has to do with gravity helping center the core of the cable).
LS Greenlink’s planned operations are part of a growing offshore wind industry taking place in Hampton Roads.
Matt Smith, director of energy and emerging technology for the Hampton Roads Alliance, will discuss how offshore wind manufacturers and other related companies are locating operations in Hampton Roads and are investing hundreds of millions of dollars in new facilities that should generate thousands of new jobs.