LS Cable’s Major Subsidiaries Achieve Record-High First-Half Results... Combined Sales of Three Firms Surpass 2.4 Trillion Won

Gaon Cable, LS Eco Energy, and LS Marine Solution Achieve Strong Growth Together

Driven by Expanding Investments in AI Data Centers and Power Grids

Gaon Cable, LS Eco Energy, and LS Marine Solution, major subsidiaries of LS Cable & System, achieved record-breaking, all-time high semi-annual results in the first half of this year, buoyed by increased investments in artificial intelligence (AI) data centers and global power grids. Rising sales of high value-added products and the growth of overseas operations propelled improvements in both revenue and profitability.

According to the industry on August 26, Gaon Cable posted consolidated sales of 1.633 trillion won and operating profit of 64 billion won in the first half of this year, up 27.3% and 41.8%, respectively, compared to the same period last year. The operating margin also rose by 0.4 percentage points, from 3.5% to 3.9%.

This growth was primarily driven by the United States market. There was a significant increase in the supply of power cables and “busduct”—a large-capacity electric power distribution system—due to expanded local investments in AI data centers, solar power plants, and power grids. Based on the growth of its U.S. corporation, LSCUS, Gaon Cable recently secured a deal to supply approximately 50 billion won worth of power distribution cables to power plants of major U.S. big tech companies. Additionally, the company won a contract (worth about 60 billion won) for Singapore’s urban railway power grid project, further expanding its global reach.

LS Eco Energy also recorded its highest-ever semi-annual results, with sales of 635.8 billion won and operating profit of 45.4 billion won in the first half. Compared to the same period last year, sales increased by 32.8% and operating profit by 16.5%. The operating margin reached 7.1%, the highest among its subsidiaries. High value-added products, such as extra-high-voltage cables for Europe and busducts for AI data centers, drove performance. First-half sales amounted to 66% of last year’s annual sales (960.1 billion won), raising expectations that the company will surpass 1 trillion won in annual sales for the first time in its history this year.

LS Marine Solution, a specialized submarine cable installation subsidiary, also achieved simultaneous growth in sales and profit. In the first half, the company recorded consolidated sales of 148.2 billion won, operating profit of 10.3 billion won, and net profit of 13.1 billion won, representing sharp increases of 33%, 61%, and 217%, respectively, compared to the same period last year. The operating margin was tallied at 7.0%. Submarine cable installation for Taiwan’s offshore wind farms and submarine communication cable projects in the Asia-Pacific region were major contributors to the performance. The company’s order backlog reached approximately 660 billion won, three times last year’s annual sales, securing a solid foundation for mid- to long-term growth.

The combined performance of these three subsidiaries in the first half totaled approximately 2.417 trillion won in sales and about 119.7 billion won in operating profit. Industry sources identify LS Cable & System’s integration of its subsidiaries’ global production, sales capacities, and engineering expertise—spanning manufacturing to subsea and underground installation—as its core competitive edge, having established a comprehensive “power infrastructure value chain.” With ongoing expansion of global AI data centers, increased adoption of renewable energy, and the replacement cycle of aging power grids, the subsidiaries’ growth momentum is expected to continue.

This content was produced with the assistance of AI translation services.