Photograph) Panoramic view of Gaon Cable's Gunpo plant


■ First contract since vendor registration, with potential for follow-up projects  
■ Profitability and growth potential improve with expansion into overseas markets such as the US and Asia
■ Record performance in first-half raises expectations for year


Gaon Cable (CEO Jeong Hyun) announced on the 6th that it will supply approximately KRW 60 billion worth of power distribution cables for a Mass Rapid Transit (MRT) power grid construction project under Singapore's Land Transport Authority (LTA). 

This is Gaon Cable’s first order from LTA since it registered as a vendor last year, and will be a key reference when bidding on future public power distribution projects, including for the MRT. 

Singapore plans to expand the MRT from the current 240 km to over 360 km by the early 2030s, and has continuously promoted the replacement of power equipment on existing lines alongside the construction of new lines, so mid-to-long-term demand for power distribution cables in the country is expected to remain steady. 

Gaon Cable aims to participate in more public infrastructure projects in Singapore and accelerate its advance into the railway and power distribution infrastructure markets of major Southeast Asian countries. 

The company has been expanding to overseas markets, especially the US and other Asian countries. It recently signed a direct supply contract for a power plant being constructed by a US global big tech company, and its subsidiary LSCUS is seeing an increase in orders for AI data center products alongside LS Cable & System. 

According to a company spokesperson, overseas power distribution infrastructure markets in the US, Singapore, and elsewhere are more profitable than in the domestic market. This is due to ongoing supply shortages fueled by the proliferation of AI data centers and expanding power grid investments. 

"We will simultaneously enhance our profitability and growth potential by continuously increasing the proportion of our overseas revenue, with a focus on strategic markets such as the US and Singapore," said Jeong Hyun, CEO of Gaon Cable. 

Buoyed by the growth of the power infrastructure market and expanding exports, Gaon Cable saw its best-ever first-half performance this year and is on track to set a new annual record as well.