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View of Gaon Cable's Gunpo plant. / LS Cable & System, Gaon Cable

Gaon Cable is speeding up its push into Southeast Asia's public infrastructure market, marking its first entry into a power grid project for Singapore's Land Transport Authority (LTA) mass rapid transit (MRT) system. Having completed vendor registration last year, the company's first contract win is seen as securing a track record for future MRT and public distribution project orders.

Gaon Cable announced on the 6th that it will supply about 60 billion won worth of distribution cables for the LTA's MRT power grid project. This marks the company's first order win since registering as a vendor with the LTA last year.

Singapore plans to expand its MRT network from about 240 km currently to more than 360 km by the early 2030s. Alongside new line construction, replacement of power equipment on existing lines is also expected to continue, and the company forecasts sustained demand for distribution cables over the medium to long term.

Building on this contract, Gaon Cable plans to expand its participation in Singapore's public infrastructure projects while also stepping up its push into the rail and power distribution infrastructure markets of major Southeast Asian countries.

The company's overseas expansion strategy is also gaining momentum. Gaon Cable recently signed a direct supply contract with a global big tech power plant in the U.S., and its subsidiary LSCUS is also expanding orders for AI data center products in partnership with LS Cable & System. The company said overseas power distribution infrastructure markets like the U.S. and Singapore offer higher profitability than the domestic market, as ongoing supply shortages persist amid expanding investment in AI data centers and power grids.

Gaon Cable CEO Jung Hyun said, "We will continue expanding our overseas revenue share, centered on strategic markets like the U.S. and Singapore, to boost both profitability and growth together." The company said it posted record-high results in the first half of this year, driven by expanded power infrastructure investment and rising exports, and expects to achieve record annual results as well.

                                                                                                          Lee Seo-yeon