Gaon Cable posts record first-half operating profit, up 42% on year

Gaon Cable, a subsidiary of LS Cable & System, said Monday its consolidated first-half sales reached 1.63 trillion won ($1.1 billion) on a preliminary basis, with operating profit at 64 billion won. Both figures are half-year records, up 27.3 percent and 41.8 percent, respectively, from the same period a year earlier.

The results were driven primarily by demand for cables and bus ducts tied to expanding investment in AI data centers and renewable energy in the United States. Operating profit growth significantly outpaced sales growth over the period.

LSCUS, Gaon Cable's US production subsidiary, has established itself as a key local supplier, providing bus ducts to LS Cable & System and major US big-tech AI data centers. Gaon Cable plans to continue expanding exports of high-value-added products to the US while leveraging its local production base to strengthen customer responsiveness and supply competitiveness.

"Structural growth in the US power infrastructure market continues, centered on AI data center and power grid investment," said Jeong Hyeon, chief executive of Gaon Cable. "We will sustain sales growth and profitability improvements in the second half, building on expanded exports from headquarters and the growth of LSCUS."