South Korea Wire and Cable - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

The south korea wire and cable market size was valued at USD 1.33 billion in 2025 and estimated to grow from USD 1.40 billion in 2026 to reach USD 1.73 billion by 2031, at a CAGR of 4.32% during the forecast period (2026-2031). This report is Segmented by Voltage (Extra- and High-Voltage, and More), Cable Type (Power Cable, Fiber-Optic Cable, and More), Conductor Material (Copper, and More), Installation (Overhead, and More), End-User Vertical (Telecommunications and Data Centers, Automotive and Mobility, and More), and Insulation (Insulated, and Non-Insulated). The Market Forecasts are Provided in Terms of Value (USD).

South Korea Wire and Cable Market Trends and Insights

Grid Modernization and HVDC Network Expansion

KEPCO began full-scale construction of the West Coast HVDC Energy Highway in March 2026. The program includes 4 transmission lines spanning 1,070 km and has a first-phase completion target of 2030. The wider program is scheduled through 2038, which provides a long procurement horizon for the South Korea wire and cable market and its qualified suppliers. Cables for 500 kV and higher HVDC projects require XLPE insulation designed for an 80°C conductor temperature. LS Cable and System passed international prequalification testing for a 525 kV, 80°C-class HVDC submarine cable in July 2026, and stated that the product can raise transmission capacity by up to 25% compared with the prior standard. Taihan Cable and Solution won the KRW 146.3 billion (USD 96.5 million) Phase 2 contract for the East Coast-Seoul HVDC project, including the installation of 86 km of cable.

AI Data Center and Semiconductor Cluster Power Demand

The planned expansion of AI data centers is increasing requirements for power distribution, fiber interconnection, and signal cables. South Korea plans 18.4 GW of AI data center capacity by 2035, with 8.4 GW planned by 2029 under a first-phase investment of KRW 550 trillion (USD 379.3 billion). Seoul had a grid self-sufficiency rate of 11.6% in 2025, which directs large facilities toward Ulsan, Donghae, and Sejong. These locations need new high-voltage connections from regional substations and create demand across the South Korea wire and cable market, including power and communications products. KEPCO projected that data center power demand would reach 7,343 MW by 2027, up from 906 MW in 2023, while available supply would cover only about half of that requirement. Gaon Cable reported KRW 64 billion (USD 44.1 million) in first-half 2026 operating profit, up 42% year over year, supported by demand for distribution cables and bus ducts tied to AI data centers and renewable projects.

Copper and Aluminum Price Volatility

Copper price volatility remains a direct cost issue for manufacturers across the South Korea wire and cable market with long delivery cycles. Fixed-price supply agreements can weaken margins when metal prices rise after bids are submitted. Manufacturers are responding with copper-linked pricing and monthly LME adjustment mechanisms. These arrangements move part of the commodity risk to developers and alter the structure of cable procurement. The change can extend order-to-delivery cycles because customers must account for variable material costs. Aluminum substitution is gaining attention in grid distribution and data center projects where technical requirements permit it, although copper remains necessary for some high-voltage and compact urban uses.

Other drivers and restraints analyzed in the detailed report include:

• Offshore Wind and Renewable Energy Interconnection
• Smart Grid, EV Charging, and Distributed Energy Deployment
• High Installation Cost and Long Project Lead Times

Segment Analysis

Low-voltage cables held 39.99% segment share in 2025, supported by residential and commercial construction in urban development corridors. Extra- and high-voltage cables are projected to grow at a 5.21% CAGR from 2026 to 2031. KEPCO procurement and regional power connections for data centers support this higher growth rate. The East Coast-Seoul project awarded Taihan Cable and Solution KRW 146.3 billion (USD 96.5 million) for 86 km of 500 kV HVDC XLPE cable work in June 2026. Medium-voltage cables serve EV fast chargers and distributed energy storage systems. Low-voltage demand remains linked to building activity and grid-edge installations.

Extra- and high-voltage demand in the South Korea wire and cable market is driven by transmission investments with regulatory backing and long delivery schedules. Low-voltage demand is more exposed to mature urban construction conditions and energy storage projects that can defer some physical upgrades. Only manufacturers with IEC 62067 certification can compete for many 500 kV-class contracts. New suppliers may require 18 to 24 months to complete qualification. This supports the position of LS Cable and System, Taihan Cable and Solution, Iljin Electric, and Gaon Cable in premium projects. It also sustains higher pricing in qualified high-voltage product categories than in broader commodity cable categories.

Power cables accounted for 31.11% of the segment value in 2025, supported by utility procurement, EV charging, and semiconductor power distribution. Fiber-optic cables are expected to grow at a CAGR of 6.01% through 2031. Data center interconnections, 5G-to-6G backhaul upgrades, and enterprise networks at semiconductor and smart factory sites support fiber demand. KT planned KRW 8 trillion (USD 5.52 billion) in network infrastructure investment over three years, covering data center interconnection, 6G capability, and 90 terabits per second of subsea capacity. Fiber-optic products benefit from both backbone and last-mile network investments.

Demand for signal and control cables is also rising in the South Korean wire and cable market as smart factories add automation equipment and connected systems. These facilities require combined power and data capabilities in armored assemblies. Coaxial and data cables remain relevant in broadcast and industrial automation, although fiber substitution limits their role in high-bandwidth applications. The AUG East cable is an 8,900 km submarine fiber link connecting South Korea with eight countries, including Singapore, Taiwan, and Japan. Construction of its Saemangeum landing station is scheduled to begin in January 2027. The project can support demand for landing equipment, terrestrial fiber distribution, and related cabling through the late 2020s.

Complete Report Scope:

• By Voltage
  • Extra- and High-Voltage (Greater Than 35 kV)
  • Medium-Voltage (1-35 kV)
  • Low-Voltage (Less Than 1 kV)
• By Cable Type
  • Power Cable
  • Fiber-Optic Cable
  • Signal and Control Cable
  • Coaxial and Data Cable
• By Conductor Material
  • Copper
  • Aluminum
  • Optical Glass / Polymer
• By Installation
  • Overhead
  • Underground
  • Submarine
• By End-User Vertical
  • Residential Construction
  • Commercial Construction
  • Power Infrastructure (Utilities and Renewables)
  • Telecommunications and Data Centers
  • Oil and Gas and Petrochemicals
  • Automotive and Mobility
  • Industrial Manufacturing
• By Insulation
  • Insulated
  • Non-Insulated

List of Companies Covered in this Report:

• LS Cable & System Co., Ltd.
• Taihan Cable & Solution Co., Ltd.
• Iljin Electric Co., Ltd.
• Gaon Cable Co., Ltd.
• Daewon Cable Co., Ltd.
• TMC Co., Ltd.
• Samji Electronics Co., Ltd.
• Hyundai Electric & Energy Systems Co., Ltd.
• LS Electric Co., Ltd.
• Furukawa Electric Co., Ltd.
• Fujikura Ltd.
• Sumitomo Electric Industries, Ltd.
• Prysmian S.p.A.
• Nexans S.A.
• NKT A/S
• Belden Inc.
• LEONI AG
• Southwire Company, LLC
• Amphenol Corporation

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support