[Edaily Reporter Kwon Oh Seok ] GAONCABLE(000500)’s stock price is surging during today’s trading session. It appears that buying interest is surging on news that the company is entering the Canadian electricity market for the first time and expanding its North American operations.

According to MP Doctor on the 9th, as of 10:59 a.m., GAONCABLE’s stock is trading at 266,000 won, up 17.36% from the previous trading day.
Earlier that day, GAONCABLE announced that it had supplied medium-voltage (MV) cables to a major public utility in western Canada. The company explained that this marks its first product export to Canada and is the first tangible result of expanding its North American business portfolio—which had previously focused on private industrial facilities such as artificial intelligence (AI) data centers, semiconductor factories, and power plants—into the public power grid sector.
By entering the overseas public infrastructure market—which has high barriers to entry—GAONCABLE expects to gain a competitive edge in future public sector bidding across North America.
Currently, the Canadian government expects electricity demand to nearly double by 2050, in line with the expansion of AI data centers and the growth of high-tech manufacturing. Accordingly, large-scale projects to expand and modernize transmission and distribution networks are underway, and demand for power cables is projected to continue growing.
GAONCABLE plans to further accelerate its expansion into the North American market following this entry into the Canadian market. Through organic supply chain synergies between its headquarters and its production subsidiary in North Carolina, U.S. (LSCUS), North American sales are expected to grow by more than 50%, from approximately $300 million (about 400 billion Hanwha KRW) in 2025 to approximately $470 million (630 billion Hanwha KRW) this year.