The Export-Import Bank of Korea will provide ₩300 billion, or approximately $220 million, in financing for LS Cable & System's subsea cable plant under construction in Chesapeake, Virginia. The project, backed by an investment of about ₩1 trillion, is expected to be completed in the second half of next year and produce 500 kilometers of high-voltage direct current (HVDC) subsea cable annually for offshore wind farms and other facilities in North America and Europe. The financing is intended to help LS Cable secure an early lead in the North American supply chain and expand into Europe as artificial intelligence data centers drive demand for electricity and power infrastructure. Korea Eximbank plans to provide ₩22 trillion over five years through its AI Transformation (AX) Special Program, launched in January this year. Separately, the bank approved $1 billion in financing for Glencore to help secure copper supplies for strategic industries including AI.