Gaon Cable has entered Canada’s power infrastructure market for the first time, extending its North American business beyond private industrial projects into public electricity grids.
The Korean cable-maker said Wednesday it had supplied medium-voltage cables to a major public utility in western Canada.
The deal broadens Gaon Cable’s regional customer base, which has largely centered on private facilities such as artificial intelligence data centers and semiconductor plants.
Gaon Cable said its experience supplying distribution cables in Korea, along with its manufacturing and engineering capabilities, had helped it secure entry into overseas public-sector markets.
Canada’s electricity demand is expected to nearly double by 2050, driven by the growth of AI data centers and advanced manufacturing. The Canadian government is pursuing projects to expand and modernize the country’s transmission and distribution networks to meet that demand.
Gaon Cable plans to use the Canadian deal as a springboard for further growth across North America. By strengthening the supply chain linking its Korean headquarters with LSCUS, its production subsidiary in North Carolina, the company expects its North American sales to jump more than 50 percent this year.
Regional sales are projected to reach about $470 million, up from roughly $300 million last year.
“Our entry into Canada’s public power grid is an important milestone that strengthens and broadens our North American business,” Gaon Cable CEO Jung Hyun said.
“We will continue expanding our presence across the US and Canadian power infrastructure markets.”
jyoungseon8@heraldcorp.com
