Photograph 1) Panoramic view of Gaon Canle's Gunpo factory in Gyeonggi Province

Photograph 2) Gaon Canle's CI 


■ Maximizing quality and production efficiency from wire materials to finished products through integrated management 
■ Plan to strengthen position in US market by expanding high value-added product portfolio
■ Part of LS Cable's strategic reorganization along with LS Marine Solution's acquisition of Buildwin


Gaon Cable Co. (CEO Jeong Hyeon) announced on the 3rd that it will acquire G&P, a distribution cable and wire material specialist, in order to strengthen its product competitiveness through vertical integration. 

Gaon Cable convened a board meeting on the 2nd, resolved the agenda item ‘Third-party allocation paid-in capital increase and acquisition of G&P shares,’ and decided to acquire 100% of LS Cable & System’s G&P shares in kind.

Gaon Cable, a subsidiary of LS Cable & System, is Korea's third-largest comprehensive cable company, with sales of KRW 1.4986 trillion in 2023. As a specialized manufacturing company, G&P's product line includes distribution (MV, LV) cables, automotive and marine cables, and compounds needed for cable manufacturing.

Through this acquisition, Gaon Cable will achieve vertical integration encompassing all processes, from wire materials to cables. Through this vertical integration, the company hopes to strengthen its quality competitiveness and maximize its production efficiency through integrated management of the production process, from raw materials to finished products.

Gaon also plans to further expand its portfolio through G&P’s production of shipbuilding cables and industrial special cables, and to strengthen its competitiveness in various industrial sectors.

"We plan to expand our portfolio with a focus on high value-added products by incorporating G&P's compound technology," said Jeong Hyeon, CEO of Gaon Cable. "Through this, we will further solidify our No. 1 position in the domestic distribution cable market and strengthen our presence in the U.S. market."

A company spokesperson said, “This business reorganization is part of LS Cable’s strategy to strengthen the expertise of each business division through vertical integration, such as with the incorporation of Buildwin under LS Marine Solution.”