Gaon Cable Enters Canadian Power Market, Expands North American Operations

Gaon Cable has made its first entry into the Canadian public power market, marking a significant expansion of its North American operations. Following its involvement in private industrial facilities such as AI data centers and semiconductor plants, the company is now broadening its business scope to include public power networks.

On September 9, Gaon Cable announced that it has supplied medium voltage (MV) cables to a major public power company in western Canada. This marks the company's first export of power cables to Canada.

This supply deal diversifies Gaon Cable's North American business portfolio. Previously, the company's operations in North America focused primarily on private industrial facilities, including AI data centers, semiconductor plants, and power generation facilities. With this new contract, Gaon Cable is expanding its client base to include the public power network market, which has high entry barriers.

The expansion of investment in Canada's power infrastructure is also seen as a business opportunity. As power consumption increases due to the expansion of AI data centers and the growth of advanced manufacturing, local initiatives are underway to enhance transmission and distribution networks and modernize aging power grids. The Canadian government projects that electricity demand will double by 2050 compared to current levels.

Gaon Cable plans to accelerate its penetration into the North American power infrastructure market, using its entry into Canada as a stepping stone. The company aims to enhance its local supply chain capabilities by linking its headquarters with its production subsidiary in North Carolina.

The growth trend in North American operations is expected to continue. Gaon Cable anticipates that its North American sales will increase from approximately $300 million last year to about $470 million this year, representing a growth of over 50%.

Jung Hyun, CEO of Gaon Cable, stated, "The entry into the Canadian public power network is a significant milestone that will improve the structure of our North American business and expand our reach. We will continue to strengthen our influence in the North American power infrastructure market, encompassing both the U.S. and Canada."