Gaon Cable announced that it will supply approximately 600 billion won worth of distribution cables for the Land Transport Authority's (LTA) urban rail (MRT) power network construction project in Singapore.
Having registered as a partner with the LTA last year, Gaon Cable has secured a key reference for expanding its MRT and public distribution projects.
The Singapore government plans to expand the MRT lines from the current 240 kilometers to over 360 kilometers by the early 2030s and replace the existing power facilities. Gaon Cable aims to accelerate its entry into Singapore's public infrastructure projects and target the railway and distribution infrastructure markets in major Southeast Asian countries.
Recently, Gaon Cable has been actively pursuing overseas markets, moving away from a domestic-focused structure. Following a direct supply contract with a major U.S. tech company's power plant, its subsidiary LSCUS is also increasing orders for AI data center products in collaboration with LS Cable.
Thanks to the expansion of exports, Gaon Cable reported provisional sales of 1.633 trillion won and an operating profit of 64 billion won in the first half of this year. This marks a 27.3% increase in sales and a 41.8% increase in operating profit compared to the same period last year.
Jung Hyun, CEO of Gaon Cable, emphasized, "We will continue to expand our overseas sales proportionally in strategic markets like the U.S. and Singapore to enhance both profitability and growth."
* This article has been translated by AI.
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