Gaon Cable (000500)

Gaon Cable (000500) is a Korean wire and cable maker in the LS Group whose US subsidiary LSCUS supplies busduct systems to the tech companies building American AI data centers. It posted record first-quarter results in 2026, with revenue of ₩763.6 billion, up 19.4%, as US data-center exports ran fully booked.

Ticker000500
ExchangeKOSPI
SectorIndustrials · Wire & Cable
CountrySouth Korea
Held by ETFRISE AI Electricity Infrastructure ETF (0101N0)
WikidataQ131188552
Last updated2026-06-10
Financial snapshotas of2026-06-10

Next event:Next report · H1 2026 반기보고서 (semi-annual report), estimated · Estimated from Korea's 45-day semi-annual filing deadline; not company-confirmed. Last report: Q1 2026 분기보고서 filed 2026-05-15. (source)

Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-05-15)

Gaon Cable posted record first-quarter results: revenue of ₩763.6 billion, up 19.4% year over year, operating profit of ₩27.8 billion, up 27.2%, and net income of ₩19.7 billion, driven by US AI data-center cable exports and the ramp of its US production subsidiary LSCUS.

Revenue₩7,636억 (KRW 763.6 billion)+19.4%YoY
Operating profit₩278억 (KRW 27.8 billion)+27.2%YoY
Net income₩197억 (KRW 19.7 billion)

Primary source

Recent & upcoming events

  • · Q1 2026 분기보고서 filed — record first quarter.Revenue ₩763.6 billion (+19.4% YoY) and operating profit ₩27.8 billion (+27.2%), both Q1 records, on US AI data-center exports and LSCUS growth. (source)
  • · FY2025 사업보고서 filed.Full-year 2025 revenue of ₩2.546 trillion, up 47.4% from ₩1.727 trillion in 2024, with operating profit of ₩79.2 billion (+75.9%) and net income of ₩51.4 billion. (source)
  • · LS Cable & System lifts stake above 80%.Parent LS Cable & System raised its Gaon Cable stake to 81.62%, with plans to reach 90.2%, while stating it has no plan to delist the company. (source)

Consolidated figures are from Gaon Cable's DART 분기보고서/사업보고서. Export and busduct commentary is from company statements reported by ET News and Electimes.

Figures are as of 2026-06-10 and reflect the most recent public filings/IR releases; they are updated after each earnings report.

What does Gaon Cable do?

Gaon Cable makes the conductors a grid and a data center are wired with. Its product lines run from extra-high-voltage XLPE power cables and overhead transmission lines down to MV/LV power and control cables, fire-protection and marine specialty cables, and telecom cables including LAN and optical lines. Founded in 1947 as Korea’s first privately capitalized cable company, it sits inside the LS Group: parent LS Cable & System lifted its stake to 81.62% in 2025 and has said it plans to reach 90.2% while keeping the company listed (Money Today, Apr 26, 2025). Scale stepped up sharply in 2025, when revenue grew 47.4% to ₩2.546 trillion and operating profit rose 75.9% to ₩79.2 billion (DART 사업보고서).

How is AI driving Gaon Cable’s business?

Through the busduct, the metal-enclosed conductor that distributes high-capacity power across a server hall. Gaon’s US production subsidiary LSCUS supplies busduct systems to major tech companies building US AI data centers, and the company attributes its record quarter to that export wave (ET News, May 15, 2026). Management frames the market as supply-constrained outright:

“The US market faces an absolute shortage of cable supply, with exported cable volumes already fully booked through year-end.”

— Jung Hyun, CEO, Gaon Cable (Electimes, May 2026)

The guided numbers behind that: busduct sales expanding sharply in 2026, and combined cable exports for AI data centers and solar grids roughly doubling from about ₩100 billion to ₩200 billion (Electimes). That is the same shortage dynamic pulling the rest of the Korea AI Power Infrastructure concept, where US transformer supply runs a 30% deficit and imports fill about 80% of it (Wood Mackenzie).

What did Gaon Cable report most recently?

In Q1 2026 (the quarter ended March 31, 2026), Gaon Cable posted revenue of ₩763.6 billion, up 19.4% year over year, operating profit of ₩27.8 billion, up 27.2%, and net income of ₩19.7 billion, with both revenue and operating profit at first-quarter records (DART 분기보고서, ET News). The company credits expanding US AI data-center exports and the full ramp of LSCUS. For full-year 2025 it reported revenue of ₩2.546 trillion (+47.4%) and operating profit of ₩79.2 billion (+75.9%) (DART 사업보고서).

What are the risks for Gaon Cable?

  • Customer concentration. The growth engine is US data-center construction; a hyperscaler capex pause would hit busduct and cable exports directly.
  • Copper and FX. Cable margins move with copper prices and the won between order and delivery.
  • Group float. LS Cable & System holds over 80% and is buying toward 90.2%, so the free float is thin and the stock can move erratically on low volume (Money Today).
  • Competition. Busducts and data-center cabling attract rivals scaling US capacity, including much larger cable peers.

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Frequently asked questions about Gaon Cable

What does Gaon Cable do?

Gaon Cable makes wire and cable: extra-high-voltage XLPE power cables, overhead transmission lines, MV/LV and control cables, industrial specialty cables, and telecom cables. Founded in 1947 as Korea's first private cable company, it is now an LS Group company, with LS Cable & System holding more than 80% (Money Today). It reported FY2025 revenue of ₩2.546 trillion, up 47.4% (DART 사업보고서).

Why is Gaon Cable part of the Korea AI power infrastructure concept?

Because it sells the distribution layer of data-center power. Its US subsidiary LSCUS supplies busduct systems, metal-enclosed conductors that carry high-capacity power across server halls, to major tech companies building US AI data centers, and management says US-bound cable export volumes are fully booked through year-end (ET News). Cable exports for AI data centers and solar grids are guided to roughly double from about ₩100 billion to ₩200 billion this year (Electimes).

What was Gaon Cable's latest quarterly revenue?

In Q1 2026 Gaon Cable reported revenue of ₩763.6 billion, up 19.4% year over year, with operating profit of ₩27.8 billion (+27.2%) and net income of ₩19.7 billion, both revenue and operating profit being first-quarter records (DART 분기보고서, ET News).

When does Gaon Cable next report earnings?

Korean issuers do not pre-announce earnings dates. The next regulatory filing is the H1 2026 반기보고서 (semi-annual report), due around August 14, 2026 under Korea's 45-day semi-annual deadline; that date is estimated, not company-confirmed. Gaon Cable last filed its Q1 2026 분기보고서 on May 15, 2026 (DART).

What is Gaon Cable's guidance for 2026?

The company has not issued formal numeric guidance, but management said it expects record annual revenue in 2026 on expanded US exports and new supply launches, with busduct sales expanding sharply and AI data-center and solar cable exports roughly doubling from about ₩100 billion to ₩200 billion (Electimes).

Sources & references

  1. 가온전선 분기보고서 (2026.03) · Q1 2026 quarterly report · Gaon Cable / DART (FSS), 2026-05-15
  2. 가온전선 사업보고서 (2025.12) · FY2025 annual report · Gaon Cable / DART (FSS), 2026-03-16
  3. 가온전선, 1분기 영업이익 278억원…전년比 27.2%↑ · ET News (Electronic Times), 2026-05-15
  4. 가온전선, 1분기 역대 최대 실적 달성…외형 성장·수익성 개선 · Electimes (전기신문), 2026-05-15
  5. LS전선 지분이 90%, '품절주' 가온전선…"자진 상폐 계획없다" · Money Today, 2025-04-26