Gaon Cable said on the 6th that it will supply distribution cables worth 60 billion won for the Land Transport Authority's MRT (mass rapid transit) power grid construction project in Singapore.
The company said this is the first order since it was registered as a Land Transport Authority vendor last year, and it has secured a key reference (track record) to expand orders for public distribution projects, including MRT, going forward.
Singapore plans to expand MRT lines from about 240 km now to more than 360 km by the early 2030s. Along with building new lines, it will push to replace power equipment on existing lines, so demand for distribution cables is expected to continue in the mid to long term.
Gaon Cable plans to step up its push into the railway and distribution infrastructure markets of major Southeast Asian countries.
Gaon Cable recently signed a direct supply contract with a U.S. global big tech power plant. Its subsidiary LSCUS, in cooperation with LS Cable & System, is expanding orders for products for AI data centers, and the company is moving beyond a domestic-oriented business structure to expand into overseas markets such as the United States and Asia.
Jeong Hyeon, CEO of Gaon Cable, said, "We will continue to increase the share of overseas sales centered on strategic markets such as the United States and Singapore to raise both profitability and growth."