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

Photograph 2) Gaon Canle's CI 


■ Sales of KRW 1.6469 trillion recorded in 2024, up 10% year-on-year, showing continuous growth for 5 consecutive years
■ Key factors for growth include increased exports of power cables to North America, performance of subsidiaries
■ US LSCUS to be incorporated as subsidiary at end of January to expand overseas business centered on North America 


Gaon Cable (CEO Jeong Hyeon) has shown continuous growth by recording its highest sales ever.

The company announced on the 20th that it achieved provisional sales of KRW 1.6469 trillion, a provisional operating profit of KRW 45 billion, and a provisional net profit of KRW 25.5 billion in 2024.  

Annual sales increased by about 10 percent compared to the previous year's 1.4986 trillion won, the highest since the company was founded in 1947. Operating profit rose by about 3 percent year-over-year, while net profit surged more than 40 percent. 

In particular, in terms of sales and operating profit, Gaon Cable has shown steady growth, breaking records for five consecutive years since 2019. According to the company, these record sales were mainly due to increased exports of power cables to North America and the performance of G&P, which was incorporated as a subsidiary in October last year. 

By the end of this month, Gaon Cable will acquire a 100% stake in LSCUS, a distribution cable manufacturer located in Tarboro, North Carolina, USA. The company, in pursuit of continuous growth, plans to use this as an opportunity to strengthen its localization capabilities and actively respond to the growing demand for global power infrastructure.

Gaon Cable also plans to expand its business into the renewable energy market, including solar farms in the U.S., and broaden its scope into the power grid and plant sectors. Based on technical cooperation with LS Cable & System, the company plans to strengthen its ultra-high voltage cable business and enter the submarine cable market.

“We will make 2025 the first year of expanding into the North American market, and will diversify our portfolio and strengthen our global competitiveness,” said Jeong Hyeon, CEO of Gaon Cable.