AI data-center boom drives Korean cable backlogs and Asian power suppliers

  • Korean cablemakers and Asian power and cooling suppliers are benefiting from accelerating AI data-center construction and grid investment.
  • The three Korean cablemakers’ combined backlog reached 12.4944 trillion won, up 43.5% year on year, while HD Hyundai Electric’s backlog rose 23% to $8.5 billion.
  • Grid connections can take more than eight years in major developed markets, while global data-center investment is forecast to approach $7 trillion by 2030.

AI data-center construction, aging-grid replacement and renewable-energy connections are driving an infrastructure boom for Korean cablemakers and Asian power and cooling suppliers. The combined order backlogs of LS Cable & System, Taihan Cable & Solution and Gaon Cable reached 12.4944 trillion Korean won at the end of June, up 43.5% from a year earlier, while HD Hyundai Electric’s backlog reached $8.5 billion and Hainan Jinpan Smart Technology reported more than fourfold growth in new data-center orders. McKinsey forecasts nearly $7 trillion in global data-center investment by 2030, but grid connections can take up to 24 months in some emerging markets and more than eight years in major developed markets. Demand is expanding from ultra-high-voltage, submarine and HVDC cables to transformers, bus ducts, solid-state transformers and liquid cooling as AI racks require substantially more power and generate more heat.

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