Gaon Cable (000500) is entering South Korea's floating solar market for the first time through an approximately 17 billion won ($12.6 million) supply contract for projects including Seokmun Lake and Saemangeum Sunshine Sharing. The company will provide Aluminum Clad Flex (ACF) cables, which use aluminum cladding around power cables as a built-in conduit, eliminating separate conduit installation and helping reduce construction steps and project timelines. Gaon Cable first supplied ACF to the Bigeum Island land-based solar project in 2023 and has now extended the product to floating installations, where construction on water presents additional challenges. It has also developed large-gauge, long-distance ACF products for larger floating solar complexes, aiming to improve efficiency during installation and maintenance. The South Korean government is pursuing a 1.2-gigawatt floating solar complex in the Saemangeum area by 2030, supporting potential demand for related power infrastructure. Gaon Cable plans to use the order to pursue follow-up projects and expand specialty cable supplies, including ACF, low-friction cables and cable bus, to AI data centers, power plants and other infrastructure. CEO Jeong Hyeon said the company would broaden ACF applications across floating solar, other renewable energy, railways and roads.