Photograph) Panoramic view of LSCUS USA 


■ To acquire 82% of LSCUS shares owned by LS Cable & System, expand overseas business centered on North America
■ To secure new growth engines with high-voltage and submarine cables, targeting sales of KRW 2.5 trillion by 2025
■ Korea's first cable company, looking to leap forward into global company


Gaon Cable Co. (CEO Jeong Hyeon) announced on the 19th that it has secured a 100% stake in LSCUS, a distribution cable manufacturer located in Tarboro, North Carolina, USA. 

With this acquisition as a stepping stone, Gaon Cable plans to strengthen its localization capabilities in the U.S. and increase its competitiveness in the global power infrastructure market. By acquiring the stock, the company hopes to solidify its position in the U.S. market in order to pursue continuous growth and actively respond to the increasing demand for global power infrastructure.

LSCUS is a joint venture in which LS Cable & System and Gaon Cable hold 82% and 18% of shares, respectively. At the board meeting held on the 19th, Gaon Cable approved the agenda item ‘Third-party allocation paid-in capital increase and acquisition of LSCUS shares’ and resolved to acquire the 82% of shares held by LS Cable & System through contribution in kind. 

Established in 1947 with purely domestic capital, Gaon Cable is Korea's first cable company. It recorded sales of KRW 1.4986 trillion in 2023 and aims to achieve KRW 2.5 trillion in 2025 based on expansion into the North American market and portfolio diversification. 

Gaon Cable is currently focusing its business on the renewable energy market, including solar power plants in the U.S., and plans to expand into the power grid and plant sectors of the U.S. Power Authority. The acquisition of LSCUS is expected to be an important stepping stone for the company to expand its business in the U.S. market and strengthen its localization strategy.  

Gaon Cable also plans to strengthen its high voltage cable business and enter the submarine cable market based on the technological prowess and cooperation of its parent company LS Cable & System. 

“We plan to strengthen our competitiveness by developing products tailored to local demand and securing a stable supply chain,” said Jeong Hyeon, CEO of Gaon Cable. “With this acquisition as an important stepping stone for strengthening our presence in the global market, we plan to accelerate our overseas business expansion, with a focus on the North American market.”