LS Corp. (KOSE:A006260) (LS Cable) is seeking to acquire KT Submarine Co., Ltd. (KOSDAQ:A060370) to further widen its lead in the local undersea cable market. "LS Cable is seeking to acquire KT Submarine and is under price negotiations with the firm," a senior industry official told The Korea Times.

KT Corporation (KOSE:A030200) said it has no plans to dispose of KT Submarine at the moment, while LS cable also denied the negotiation proceedings as the two companies have not officially made the issue public.