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Photo 1. Key stakeholders participate in the groundbreaking ceremony for Taihan’s Dangjin Submarine Cable Plant 2  Photo 2. Taihan Vice Chairman and CEO Jong-min Song delivers a thank-you address Photo 3. Rendering of Taihan’s Submarine Cable Plant 2   Accelerates Competitiveness in HVDC Submarine CablesTaihan hold a groundbreaking ceremony of Submarine Cable Plant 2​- Operations Planned by 2027 with 640kV HVDC Submarine Cable Production Capabilities- Preparing the ‘West Coast Energy Highway,’ Expanding Participation in Domestic and Global Projects- “To Become a Key Hub for Leading the Global Submarine Cable Market and Strengthening National Competitiveness” Taihan begins construction of second submarine cable plant, accelerating investments in advanced energy infrastructure. Taihan announced that it held a groundbreaking ceremony on the 25th for its Dangjin Submarine Cable Plant 2 (hereinafter “Submarine Plant 2”) at the Godae District of the Asan National Industrial Complex in Dangjin, Chungcheongnam-do. Submarine Plant 2, designed to manufacture 640kV-class HVDC (High Voltage Direct Current) and 400kV-class HVAC (High Voltage Alternating Current) submarine cables, will commence construction this month and aims to begin operations by 2027. The ceremony was attended by more than 350 distinguished guests, including Chungcheongnam-do Governor Tae-heum Kim, National Assembly Member Kiy-ku Eoh, Dangjin Mayor Seong-hwan Oh, and Dangjin City Council Chairman Young-hoon Seo, as well as representatives from Korea Electric Power Corporation (KEPCO), power generation companies, industry associations, and major domestic and global clients and partners, including the UK’s National Grid. Senior executives from Hoban Group were also present, including Founder Chairman Sang-yeol Kim, Chairman Sun-kyu Kim, Taihan Vice Chairman Jong-min Song, Hoban Construction President Chul-hee Park, Hoban Group Planning President Dae-heon Kim, and Hoban Group Planning and Management Director Min-seong Kim. Held under the slogan “From the West Sea to the World”, the event underscored Taihan’s vision to develop Submarine Plant 2 into both the starting point of Korea’s West Coast “Energy Highway” and a strategic hub in the global submarine cable market. The company plans to contribute to stabilizing the domestic HVDC submarine cable supply chain while also expanding its participation in both domestic and international projects, thereby enhancing national competitiveness. The program began with a written congratulatory message from Minister of Trade, Industry and Energy Jung-kwan Kim, followed by remarks from key dignitaries, a thank-you address by Vice Chairman Jong-min Song, the screening of a vision video, a commemorative ceremony, a tour of Submarine Plant 1, and a tree-planting event. In his written message, Minister Kim stated, “This is a meaningful moment as Taihan, Korea’s first cable manufacturer, secures advanced production capabilities in submarine HVDC cables. The groundbreaking of Submarine Plant 2 will make an active contribution to realizing the government’s national agenda of building an ‘Energy Highway.’” He further expressed his gratitude to Taihan for boldly committing to domestic investment despite the challenging global business environment. Governor Tae-heum Kim of Chungcheongnam-do remarked, “I would like to thank Taihan for its contributions to job creation and economic development in Dangjin, and I hope this investment will help our province establish itself as a global hub for the power and energy industry.” Vice Chairman Jong-min Song emphasized in his address of gratitude, “Offshore wind power and HVDC submarine cables are strategic industries directly linked to national industrial competitiveness and energy security. Through Submarine Plant 2, we will contribute to building the nation’s energy infrastructure, advancing the renewable energy industry, and establishing a foundation to lead the global market.” Submarine Plant 2 will be built adjacent to Submarine Plant 1 on a site of approximately 215,000㎡ (equivalent to 30 football fields). It will house cutting-edge facilities, including a 180-meter-tall VCV (Vertical Continuous Vulcanization) system—an essential installation for ultra-high-voltage cable production—enabling more than five times the production capacity of Submarine Plant 1. Meanwhile, Taihan has steadily strengthened its competitiveness in submarine and HVDC cables. Having entered the submarine cable business in 2008, Taihan declared the full-scale expansion of the business in 2022, began construction of Submarine Plant 1 in 2023, commenced operations in June 2024, and completed the plant in June 2025. In December 2023, the company also secured Korea’s only CLV (Cable Laying Vessel), the Palos, and in July this year acquired a specialized submarine cable installation company, thereby securing turnkey capabilities that cover the entire value chain from design and manufacturing to transport, installation, and maintenance. Through these sustained efforts, Taihan has proven its technological strength and execution capabilities by winning multiple projects, including the Yeonggwang Nakwol offshore wind farm and the Anma offshore wind farm. 

Photo) Rendering of Taihan Vina’s Extra-High Voltage (EHV) Cable PlantTaihan Cable's Subsidiary 'Taihan Vina' to Construct Vietnam’s First 400kV EHV Cable Plant- Construction of Vietnam’s first 400kV extra-high voltage (EHV) cable plant, with operations scheduled for 2027- Taihan’s first overseas EHV production base, reinforcing global competitiveness- Accelerating expansion into Vietnam’s domestic market and major overseas markets, including Europe, the Americas, and OceaniaTaihan is strengthening its global competitiveness through the expansion of its overseas production infrastructure. On August 13, the company announced that its subsidiary of Taihan, Taihan Cable Vina, will build a 400kV-class extra-high voltage (EHV) cable manufacturing plant — the first of its kind in Vietnam — as part of a strategic initiative to enhance global bidding capabilities through an advanced local production system. The new plant will occupy approximately 56,200㎡ (604,931 ft²) within the Long Thanh Industrial Zone in Dong Nai Province, southern Vietnam, adjacent to Taihan Vina’s existing plant. Construction is scheduled to commence in the first half of 2026, with operations to begin in 2027. Upon completion, Taihan Vina will stand as Vietnam’s sole manufacturer of 400kV-class EHV cables. Through this investment, Taihan Vina aims to meet rapidly increasing domestic demand for EHV cables in Vietnam — where electricity demand is projected to grow by 10–12% annually through 2030 — and to accelerate entry into major overseas markets, including Europe, the Americas, and Oceania. Continuous capacity expansion and technological innovation will establish the plant as a second global production hub, complementing Taihan’s flagship Dangjin Cable Plant in Korea. A Taihan spokesperson stated, “Vietnam’s strong industrial environment, infrastructure, and strategic geographic location provide a solid foundation for Taihan Vina to become a leading global supplier in the EHV cable sector. With this investment, Taihan Vina will help modernize Vietnam’s power grid and strengthen its presence from Asia to the world.” Established in 2005 and headquartered in Ho Chi Minh City, Taihan Cable Vina is a comprehensive wire and cable manufacturer comprising a workforce of approximately 300 employees. Its product portfolio includes high-, medium-, and low-voltage power cables, as well as overhead conductors. In 2024, the company recorded sales of KRW 140.3 billion, a year-on-year increase of about 20%, driven by ongoing facility expansion and technology investments.  

Photo) 1. Overview of the Anma Offshore Wind Farm and Taihan’s Submarine Cable Supply Scope   Photo) 2. The "PALOS" Cable Laying Vessel—Deployed for Major Offshore Wind Projects in Korea​​   Taihan Secures 181.6 Billion KRW Turnkey Contract for Anma Offshore Wind Power Project, Marking Major Progress in Korea’s Offshore Wind Market - Proven Full Turnkey Competence in Submarine Cables: From Design to Production, Transport, and Installation- To Be Manufactured at the Recently Completed Dangjin Submarine Cable Plant 1; Installed by Korea’s Sole CLV, “PALOS”- Extensive Experience and Track Record from Successive Offshore Wind Projects- Expanding 640kV HVDC Production Infrastructure to Prepare for the “West Coast Energy Highway Taihan has once again demonstrated its comprehensive competitiveness in the submarine cable sector by winning a large-scale offshore wind contract. On August 4, Taihan announced the signing of a turnkey contract to supply and install over 100km of inter-array submarine cables for Korea’s largest offshore wind development, the Anma Offshore Wind Power project. The contract, valued at approximately KRW 181.6 billion (VAT included), runs until the end of 2028. The Anma Offshore Wind Power project involves constructing a 532MW wind farm on the west coast of the Anma Archipelago in Yeonggwang-gun, Jeollanam-do, covering an area of 83.9 million square meters. Anticipated annual output is 1,400GWh—enough electricity to power 1.4 million people each year. For this project, Taihan will oversee the entire turnkey process, including the design, manufacturing, transportation, and installation of inter-array cables, which link turbines and connect turbines to offshore substations. As wind farms scale up, cable volumes grow commensurately. All submarine cables will be produced at the recently completed Dangjin Submarine Cable Plant 1. For cable laying operations, Taihan will utilize “PALOS,” Korea’s only cable laying vessel (CLV). Previously, Taihan participated in key domestic offshore wind projects such as Yeonggwang Nakwol and Southwest Offshore Wind, accumulating technological expertise and project execution capabilities. The “PALOS” vessel was deployed for the Yeonggwang Nakwol project, proving its outstanding performance on Korea’s West Coast. A Taihan spokesperson commented, “Leveraging our submarine cable competitiveness built since 2009, Taihan is achieving rapid results in Korea’s offshore wind segment. By consistently strengthening our turnkey capabilities, we aim to contribute to supply chain stability for Korea’s offshore wind expansion and the West Coast Energy Highway, while also enhancing export competitiveness as we actively join growing offshore wind projects in Europe and Asia.” To meet fast-growing domestic and international demand, Taihan is steadily strengthening its production and installation capacity. Submarine Cable Plant 1 will supply both inter-array and export cables for offshore wind, and, as of July 16, Taihan has approved investment in Submarine Cable Plant 2, capable of producing 640kV HVDC and 400kV HVAC cables. Construction on Plant 2 is set to begin this year, with operations targeted for 2027.​ 

Taihan Strengthens Turnkey Competitiveness with Acquisition of Offshore Cable Installation Specialist ‘OceanC&I’- OceanC&I brings extensive expertise in submarine installation and a solid record of successful offshore projects- Enables internalization of full submarine cable value chain: design, manufacturing, transportation, installation, and maintenance- Accelerating preparations for the "West Coast Energy Highway" and reinforcing global market leadershipTaihan has taken a major step forward in enhancing its turnkey project capabilities by acquiring Ocean Construction & Installation (OceanC&I) a leading offshore cable installation and engineering company. Taihan acquired 100% of OceanC&I’s shares from CEO Yoon Jong-moon and other stakeholders. The signing ceremony, held at Hoban Park 2 Center, was attended by key executives from both companies, including Taihan Vice Chairman Song Jong-min and OceanC&I CEO Yoon Jong-moon. Established in 2008, OceanC&I has specialized in submarine cable laying and engineering, with deep expertise in offshore construction solutions. The company possesses robust human and material infrastructure and has completed numerous domestic and international offshore wind power projects, including the Southwest Offshore Wind Farm in Korea, as well as projects in Venezuela and the Philippines. OceanC&I also has broad experience in submarine cable protection and maintenance services. Of particular note is its proven track record in operating cable-laying vessels (CLVs). This expertise is expected to further enhance the operational efficiency of Taihan’s own CLV, the PALOS, Korea’s first dedicated cable-laying vessel, which was launched in November 2023. The PALOS recently demonstrated its performance by successfully completing the full export cables installation for the Yeonggwang Nakwol Offshore Wind Farm, contributing to the stability of Korea’s offshore wind supply chain. This acquisition enables Taihan to internalize key competencies across the entire submarine cable value chain—from design and manufacturing to transportation, installation, engineering, and maintenance—strengthening its edge in turnkey projects. Following the acquisition, Taihan plans to actively invest in advanced equipment and recruit top-tier talent to further enhance its credibility and expertise in the offshore construction sector. By reinforcing its technical capabilities, the company aims to position itself as a trusted global leader in marine installation. Leveraging this enhanced competitiveness, Taihan intends to pursue high-voltage direct current (HVDC) and other turnkey projects both domestically and globally. With only a limited number of companies worldwide capable of both producing and installing submarine cables, this strategic move is expected to significantly elevate Taihan’s global market presence and unlock new business opportunities. A Taihan official commented, “This acquisition allows us to fully internalize submarine cable installation capabilities and strengthen our ability to manage turnkey projects. We are committed to meeting the growing global demand for submarine cables while playing a central role in strategic initiatives such as the ‘West Coast Energy Highway’.” Taihan continues to strengthen its capabilities in the offshore wind and submarine cable sectors. In June, the company completed its first submarine cable plant in Dangjin, capable of producing both internal and export cables for offshore wind. On July 16, Taihan approved an investment in its second plant, which will produce 640kV HVDC and 400kV HVAC cables, with construction set to begin within the year and operations expected in 2027.

The cable-laying vessel PALOS is currently carrying out the export cable installation for the Yeonggwang Nakwol Offshore Wind Project.    Taihan’s CLV ‘PALOS’ Successfully Completes Export Cable Installation for the Yeonggwang Nakwol Offshore Wind Project - Korea’s only CLV demonstrates performance in the challenging West Sea region- Hybrid vessel with selectable DP2 and Anchoring modes maximizes operational efficiency- Taihanprepares to join the ‘West Coast HVDC Energy Highway’ based on turnkey competitiveness   Taihan’s cable-laying vessel (CLV), PALOS, has successfully completed the installation of export cables for the Yeonggwang Nakwol Offshore Wind Project, demonstrating its exceptional performance. The project, located near Songido, Nakwol-myeon, Yeonggwang-gun, Jeollanam-do, is a large-scale initiative to develop a 364.8MW wind power complex. With a total project cost of KRW 2.3 trillion, the facility will generate enough electricity to power approximately 250,000 households year-round upon completion. The overall project progress has now surpassed 50%.  This project marks the first deployment of PALOS since its acquisition by Taihan. The export cable installation, covering two 28km lines, was carried out in two phases: the first phase took place over two weeks in mid-May, and the second phase began in late June and was completed last week. The installation of inter-array cables, also produced by Taihan, is scheduled to commence after July.  PALOS, introduced in November 2023, is a specialized cable-laying vessel acquired to secure Taihan’s turnkey competitiveness, spanning production, transportation, installation, and maintenance of submarine cables. As Korea’s only CLV, it was purpose-built from the design stage for submarine cable installation. With a top speed of 9 knots under its own power, PALOS offers installation speeds five to six times faster than CLBs (Cable Laying Barges) that rely on tugboats, and maintains stability even in adverse weather and tidal conditions. The vessel is a hybrid model capable of operating in both DP2 (Dynamic Positioning Class 2) mode, which automatically and precisely controls the vessel’s position, and Anchoring mode, which fixes the vessel using anchors as needed. DP2 mode is used for deep waters requiring high-precision installation, while anchoring mode, which consumes less fuel, is employed in shallow waters with minimal tidal influence, ensuring both efficiency and cost-effectiveness. Additionally, unlike conventional vessels, PALOS features a flat-bottom design that allows independent access to very shallow coastal areas, enabling all-weather deployment across diverse marine environments. It is particularly recognized for delivering optimal performance in the West Sea, where shallow depths and strong currents make cable installation highly challenging. A Taihan official stated, “PALOS has proven both its stability and installation capabilities by successfully completing cable laying in the demanding West Sea region. Leveraging our turnkey competitiveness from production to installation, we anticipate creating diverse opportunities in upcoming large-scale offshore wind projects and the West Coast HVDC Energy Highway.” Meanwhile, in June, Taihan completed the comprehensive construction of its first Dangjin submarine cable plant, capable of producing both export and inter-array cables for offshore wind power. In the second half of the year, the company plans to commence construction of its second plant, which will produce 640kV-class HVDC submarine cables and cables for the extra-long continuous export cable, thereby strengthening production capacity to participate in the West Coast HVDC Energy Highway project.​ 

Photo 1. Taihan and SuperNode signed an MOU for the development of next-generation superconducting cables. (From left: Taihan Vice Chairman Song Jong-min, SuperNode CEO John Fitzgerald) Photo 2. Representatives from Taihan and SuperNode pose for a commemorative photo following the MOU signing. (Front row, from left: Taihan Vice Chairman Song Jong-min, SuperNode CEO John Fitzgerald)​   Taihan Signs MOU with SuperNode to Co-Develop Next-Generation Superconducting Cables, Advancing Future Grid Technologies- Partners with the Irish cable company SuperNode to develop high-performance superconducting cables through collaboration in design, manufacturing, and materials- Achieves significant improvements in efficiency and ease of installation compared to conventional superconducting cables- Vice Chairman Song Jong-min stated, “We will lead the global superconducting cable industry through technological advancement” Taihan has established a strategic partnership with the global superconducting cable company SuperNode to co-develop next-generation superconducting cables, thereby solidifying its position as a leader in future power infrastructure solutions. On June 17 (local time), Taihan signed a Memorandum of Understanding (MOU) with the Irish cable firm SuperNode in London, UK. The signing ceremony was attended by over 20 representatives from both companies, including SuperNode CEO John Fitzgerald, CTO Andrew Carlisle, Taihan Vice Chairman Song Jong-min, and Nam Jeong-se, Executive Director of the Global Energy Division. Headquartered in Dublin, SuperNode specializes in the development of superconducting cable systems for transmission, distribution, and data center applications. The company possesses proprietary design technology that significantly enhances efficiency and simplifies installation compared to traditional superconducting cables. By adopting innovative polymer-based materials instead of conventional stainless-steel corrugated sheaths, SuperNode’s technology reduces cooling losses and extends the installation interval of cooling systems by more than five times—improving operational efficiency and reducing costs. This MOU aims to establish a collaborative framework for the joint development and production of advanced superconducting cables. Taihan and SuperNode will collaborate closely across design, manufacturing, and materials, strengthening technological competitiveness through extensive technical exchanges, including the sharing of cable technology. Additionally, the companies will explore opportunities for joint participation in global superconducting cable projects. “We are very pleased to collaborate with Taihan in preparing for the large-scale production of next-generation superconducting cables,” said SuperNode CEO John Fitzgerald. “By combining Taihan’s over 80 years of manufacturing excellence with our innovative design technology, we anticipate accelerating the commercialization of high-capacity superconducting cables that will facilitate electrification in renewable energy and data center markets.” Vice Chairman Song Jong-min stated, “Through the integration of Taihan’s cable manufacturing expertise with SuperNode’s advanced superconducting design capabilities, we are confident in our ability to enhance our global competitiveness in the superconducting sector. We will continue to lead the growth of the global superconducting cable industry through technological advancements.” Superconducting cables utilize specialized materials that demonstrate zero electrical resistance when cooled below a specific temperature, serving as an alternative to traditional copper conductors. In comparison to copper or aluminum cables, superconducting cables provide significantly enhanced power transmission efficiency. Unlike conventional cables, which necessitate higher voltages to transport large currents, superconducting cables can transmit high-capacity currents at lower voltages, establishing them as a fundamental technology for next-generation power infrastructure.​

Taihan Initiates Comprehensive Expansion of Busduct Business to Enhance Production Capacity and Product Competitiveness- Expands dedicated busduct manufacturing facility to three times its original scale and installs advanced production equipment- Commences production of epoxy-insulated busducts to drive entry into the high-capacity power distribution market- Strengthens technological capabilities and diversifies product portfolio to address growing global demandTaihan has commenced a comprehensive expansion of its busduct business aimed at substantially enhancing production capacity and broadening its product portfolio. The company has expanded its dedicated busduct manufacturing facility within the Dangjin Cable Plant in Chungcheongnam-do to approximately three times its previous scale. This expansion was accompanied by the installation of advanced core equipment to significantly reinforce production capabilities. The facility expansion project, initiated in November of last year, was completed this month, with full-scale mass production officially commencing last Tuesday. To improve both production efficiency and product competitiveness, Taihan has expanded its existing PET (polyethylene terephthalate) insulation line and newly introduced epoxy insulation systems, which are known for their superior thermal resistance and high dielectric strength. Epoxy-insulated busducts are engineered to deliver stable performance in high-voltage and high-temperature environments, making them particularly well-suited for mission-critical infrastructure such as data centers, smart buildings, and semiconductor manufacturing facilities. This strategic investment is expected to accelerate Taihan’s entry into the expanding high-capacity power distribution market. A company spokesperson stated, “Recognizing the strong growth trajectory of the global busduct market, Taihan remains committed to advancing our technological competitiveness through continuous investment in R&D and product innovation.” The spokesperson added, “We have supplied our in-house developed busduct solutions to domestic and international clients with proven reliability, and this expansion will serve as a catalyst for securing new business opportunities.” Busducts are integrated power distribution systems used to supply stable electricity to large-scale buildings and industrial facilities. As global infrastructure scales up and energy consumption intensifies, demand for efficient and reliable power delivery systems continues to rise. According to industry sources, the global busduct market is projected to grow from KRW 14 trillion in 2022 to approximately KRW 23 trillion by 2028. 

Taihan Cable & Solution signs an HVDC framework agreement with National Grid. (Right: Taihan Vice Chairman Song Jong-min) Taihan Signs HVDC Framework Agreement with National Grid UK- Secures participation opportunities in HVDC cable projects valued at approximately £21.3 billion (KRW 40 trillion) over up to eight years- Vice Chairman Song Jong-min visits the UK: "We will penetrate the global market with our technological expertise."- Achieves world-class underground HVDC technology; submarine HVDC cable production to commence in 2027. Taihan Cable & Solution has demonstrated its technological competitiveness in the HVDC sector in Europe, a key hub of the global power industry. The company announced on the 14th that it has signed a framework agreement with National Grid UK Limited, one of the UK’s leading power transmission and distribution companies, for high-voltage direct current (HVDC) cable systems. This agreement represents a major milestone in Taihan’s expansion into the European market. National Grid pursued framework agreements in two areas—HVDC cable systems and converter stations—to ensure a stable supply chain amid anticipated shortages in the HVDC market. The total value of the projects covered by these agreements is estimated at £59 billion (KRW 110 trillion), with more than 15 submarine and underground HVDC projects planned over the next eight years. Through this framework agreement, Taihan has secured access to business opportunities valued at approximately £21.3 billion (KRW 40 trillion) in the HVDC cable sector. The agreements were concluded with six top-tier global companies from Europe, Japan, and beyond. Taihan will be eligible to bid for 525kV and 320kV HVDC cable system projects led by National Grid from 2025 for up to eight years. A framework agreement is a long-term contract that establishes predefined conditions for the supply of goods or services over a set period, ensuring stable collaboration based on mutual trust between the buyer and supplier. To commemorate the signing of this agreement, Vice Chairman Song Jong-min personally visited National Grid’s headquarters in London last month to meet with key stakeholders and discuss future business plans. Vice Chairman Song stated, “This is a highly significant contract that validates our technological competitiveness in HVDC cable systems—an essential technology for the future power industry—in the advanced European market. We will continue to enhance the quality and reliability of our HVDC cable systems and strengthen our technological capabilities to expand business opportunities not only in Europe but also in the global market.” HVDC cable systems are a critical technology for long-distance power transmission and are in growing demand worldwide due to the expansion of renewable energy and supergrid interconnections. Due to the significant technical expertise and investment required, only a select group of global companies has successfully developed and produced HVDC cables. Taihan was the first Korean company to develop both a 500kV current-source and 525kV voltage-source HVDC underground cable system (3,000SQ, 90°C operating temperature), obtaining international certification. In September last year, Taihan further strengthened its position in the global HVDC market by securing its first 320kV voltage-source HVDC cable project in the United States. The company is also making steady progress on constructing its second submarine cable plant to support HVDC submarine cable production. In November last year, Taihan finalized the plant site in Dangjin, South Korea, further solidifying its strategic roadmap. The plant is set to begin operations in 2027, with R&D efforts focused on ensuring immediate HVDC submarine cable production upon commissioning. 

Taihan Reports Record-Breaking Financial Results for FY 2024Taihan has disclosed its preliminary consolidated financial results for 2024, reporting KRW 3.282 trillion in revenue, KRW 114.6 billion in operating profit, and KRW 73.0 billion in net profit.  This represents a 15.4% increase in revenue from KRW 2.844 trillion in 2023, while operating profit surged by 43.6% from KRW 79.8 billion. Net profit saw a modest increase of 1.6% from KRW 71.9 billion in the previous year.For the first time in 13 years, Taihan’s revenue surpassed KRW 3 trillion. Operating profit also exceeded KRW 110 billion for the first time since 2007. Notably, this achievement is attributed solely to Taihan’s core Cable & Solution business, reinforcing its strategic focus. In the past, the company operated multiple non-core subsidiaries in construction and telecommunications, but it has since streamlined its portfolio to concentrate exclusively on cable-related businesses, driving sustained growth. The company attributes its robust performance to an expanded global order intake and increased revenue across key markets, including the U.S., Europe, and Asia. In 2023 alone, Taihan secured approximately KRW 730 billion in new orders from the U.S. market. The company also achieved significant milestones in securing contracts for 500kV HVAC (High Voltage Alternating Current) cable systems, a technology designated as a national core technology, as well as HVDC (High Voltage Direct Current) cable systems, recognized as a next-generation power transmission solution. Taihan further strengthened its position in Europe, securing major projects in high-tech markets such as the UK and Sweden. In Asia, the company capitalized on large-scale business opportunities in Singapore. In Q4 2023 alone, Taihan recorded KRW 1.7 trillion in new orders, reinforcing its strong momentum in the global market. 

Taihan clinches an KRW 840 Billion deal in Singapore! “Breaking new ground in extra-high voltage export records”- An all-time high in contract volume, representing 30% of the company’s total revenue from the previous year.- Concurrently awarded two full-turnkey projects operating at the highest local voltage of 400kV.- Vice Chairman Song Jong-min stated, “We will continue to promote the excellence and competitiveness of Korean cable technology.” In a move that reinforces its competitive standing in the international market, Taihan Cable & Solution has shattered the record for extra-high voltage (EHV) power grid contracts.    Taihan (CEO Song Jong-Min) revealed through a public announcement on the 4th that it had finalized two contracts with SP PowerAssets Limited for the supply and installation of a 400kV EHV power grid, with a total value of KRW 840 billion. This figure accounts for around 30% of the company’s consolidated sales for 2023, which amounted to KRW 2.844 trillion. The NDC373 project, one of the two contracts, amounts to approximately KRW 500 billion, making it the largest export of extra-high voltage AC transmission networks in the nation's history. This marks the most sizable project that Taihan has ever acquired, whether within the country or overseas.  This endeavor is a key project that SP PowerAssets has meticulously prepared over a long period to effectively address the burgeoning electricity demand stemming from the surging demand of AI and data centers. This grand-scale project entails the construction of a 400kV extra-high voltage underground power grid, the highest voltage in use locally, throughout Singapore, with Taihan undertaking the entire process, from design to production, laying, connection, and testing, in a full turn-key manner. Due to the critical importance of stability in a 400kV full turn-key project, rigorous evaluation encompassing quality, technical prowess, engineering proficiency, and project management capabilities is carried out when selecting the contractor. In particular, the high construction difficulty of this project, which includes tunnel sections, required comprehensive and thorough evaluation, and Taihan was selected as a qualified contractor amidst competition with renowned global firms. Song Jong-Min, Vice Chairman, remarked, “Winning this landmark project in Singapore, a market known for its stringent technical and quality verification requirements, serves as a testament to Taihan’s all-encompassing competitiv advantage in technology, quality, and service,” and further affirmed, “We will continue to play a pivotal role in enhancing the national competitiveness by widely promoting the excellence of Korean cable technology and products in key markets across the United States, Europe, and Asia.” Taihan, having successfully completed the 400kV projects conducted in Singapore in both 2016 and 2022, has now achieved a remarkable feat with the signing of this contract, making it the only company in Korea to have participated in every 400kV full-turnkey project carried out in Singapore. 

1. Taihan is preparing to lay cable in the U.S.   2. Taihan is laying cables in the U.S. 3. Taihan completes certification testing for HVDC cables system at KEPCO's Power Research Institute in the Gochang Power Testing Center  Taihan Secures First U.S. HVDC Project Worth 90 Billion KRW-  Supplying 320kV HVDC and 500kV HVAC power grids to Silicon Valley and surrounding areas-  Secured all 500kV HVAC projects in the U.S., including this latest achievement-  Proves competitiveness with new orders totaling 610 billion KRW secured in the U.S. this year On 19th, Taihan Cable & Solution (CEO Song Jong-min) announced that it had been selected as the cable supplier for a 320kV VSC (Voltage Source Converter)-HVDC and 500kV HVAC power project in the United States. The contract, which was awarded by LS Power Grid California, LLC, a United States electric utility company and contemplates multiple cable orders with a currently-projected overall value of approximately KRW 90 billion, supports efforts to improve reliability of the power grid in Northern California, including regions like Silicon Valley and San Jose, which have seen a surge in electricity demand due to the recent expansion of AI(Artificial Intelligence) related businesses and other advanced IT companies. This contract marks Taihan’s official entry into the U.S. HVDC market. HVDC is a key technology for long-distance, large-scale power transmission, converting alternating current (AC) into direct current (DC) for transmission. In particular, the VSC(Voltage Source Converter)-HVDC project awarded to Taihan Cable & Solution is becoming a global trend as it allows for easier bidirectional power transmission and simpler converter station installation compared to LCC(Line Commutated Converter)-HVDC. It can also be applied to renewable energy generation, such as wind and solar power.  In fact, TSOs(transmission system operators) in Europe are increasingly adopting VSC-HVDC for many of their recent grid-connected renewable energy projects and cross-border power grid interconnection projects. Given the advanced technology required for HVDC cable systems, only a handful of companies worldwide have successfully commercialized this technology.Taihan Cable & Solution has focused on strengthening its technological capabilities in the HVDC field and previously developed South Korea's first 525kV VSC(Voltage Source Converter)-HVDC cable system, featuring a 3,000-square-millimeter cross-sectional area and a maximum operating temperature of 90°C.With this latest contract, Taihan is poised to actively pursue further HVDC projects both domestically and internationally. The 500kV HVAC cable system, designated as a national core technology, is the highest voltage among commercially available underground cables Taihan was the first company in South Korea to develop and commercialize this technology, and it has successfully secured and executed all 500kV HVAC projects conducted in North America. With this latest win, Taihan has achieved the remarkable accomplishment of carrying out all 500kV projects conducted in the U.S This achievement was made possible by demonstrating the competitiveness and technical capabilities of Taihan’s to multiple power authorities in the U.S. Anticipating the increased demand for replacing aging power grids in the U.S., Taihan has focused its efforts on the U.S. market since 2017. This strategic focus has yielded continuous success, with the company recording over KRW 610 billion (approximately $455 million) in new orders this year alone, achieving record-breaking results. A spokesperson from Taihan stated, “Extra-high-voltage power grids, such as HVDC and 500kV HVAC, require not only product supply but also highly specialized construction capabilities. Proven track records in such projects are a critical measure of success. As we continue to build on our achievements in this high-value, future-oriented market, we will further strengthen our competitive edge in the growing North American market. 

​Taihan completes construction of the first optic coummunication cable​ plant in KuwaitTaihan held an opening ceremony for Taihan Kuwait’s plant. Taihan Kuwait, established in partnership with Rank General Trading & Contracting Co., a prominent local construction and trading firm, is the first production subsidiary in Kuwait. The plant is the first optic coummunication cable​ plant in Kuwait, located in the Mina Abdullah Industrial area southeast of Kuwait City on a plot of land measuring 5,000 square meters.​ It is equipped with production and testing machinery identical to Taihan's Dangjin cable plant in Korea. The facility is set to commence operations in mid-September following product certification. The move comes as global demand for fiber optic cables surges, driven by the expansion of 5G infrastructure supported by the Internet of Things (IoT) and artificial intelligence (AI) technologies. Taihan plans to use this new plant as a springboard to supply not only Kuwait but also neighboring Gulf Cooperation Council countries like Saudi Arabia and Qatar. Song Jong-min, Taihan's vice chairman, said, "Taihan Kuwait will expand its market dominance by supplying top-quality fiber optic cables through advanced technology transferred from Taihan and skilled engineers." 

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Taihan has successfully signed a massive contract estimated at KRW 190 billion in the United StatesTaihan Cable & Solution has announced that T.E.USA, its American sales subsidiary, has successfully signed a massive long-term contract estimated at KRW 190 billion in the eastern United States. This undertaking marks the largest project ever secured by Taihan within the United States, and it stands as one of their most significant international contracts. To address the rapidly growing power demand in the eastern United States, Taihan will furnish all necessary extra high voltage power grid components, such as 138 kV and 345 kV cables and accessories, for a project aimed at upgrading old power grids to new ones. With the addition of this contract, Taihan’s new orders from the U.S. this year amount to KRW 520 billion. Therefore, the company has, within half a year, surpassed the 2022 annual order intake of KRW 400 billion, the highest since its entry into the North American market, thereby setting a new record for orders in the U.S. 

​Taihan held a PALOS Commissioning ceremonyTaihan reported on the 24th that the commissioning ceremony for the 6,200-ton class submarine cable laying vessel “PALOS” took place at the pier where its second Dangjin submarine cable plant stands. Being the only offshore wind power cable laying vessel (CLV) in Korea, PALOS has the capacity to carry up to 4,400 tons of submarine cable in a single voyage. The event was attended by around 200 participants, including key local figures such as Governor of Chungcheongnam-do, and Mayor of Dangjin. Representatives from the Ministry of Trade, Industry, and Energy, Korea Electric Power Corporation, Korea Wind Energy Industry Association, as well as various power companies, clients, and partner companies also attended. The event proceeded with an opening performance, followed by welcome and congratulatory speeches, the reading of a prayer for safe voyage, and a champagne breaking ceremony, among other proceedings. Constructed with the explicit purpose of laying submarine cables, PALOS exhibits far superior performance when compared to cable laying barges (CLBs) that were converted from cargo barges. Unlike conventional vessels, PALOS features a flat bottom, allowing it to operate at various sites regardless of water depth. The vessel is also outfitted with cutting-edge features such as Dynamic Positioning 2 (DP2).  Furthermore, as a powered vessel capable of reaching speeds of up to 9 knots, PALOS offers an exceptionally stable and precise approach to laying submarine cables, significantly outperforming CLBs that depend on tugboats and lack the capability to effectively respond to weather variations and currents. “Today's launching ceremony marks South Korea's rise to one of the few countries globally equipped with a CLV, with only about 30 such vessels existing worldwide," said Song Jong-min, Vice Chairman of Taihan. "Palos will not only strengthen Taihan's construction competitiveness but also serve as a crucial strategic asset protecting Korea's offshore wind market from foreign competition" "We will construct additional submarine cable factories and secure larger cable-laying vessels in the future, aiming to emerge as a powerhouse in the global offshore wind industry" 

[Photo Caption]The inaugural ceremony of the first step of Taihan’s submarine cable plant 1Second from the left : Executive Director Kim Jun-seok of the Taihan Corporate Management Division, Executive Director Kim Min-seong of Hoban E&C, President Kim Dae-heon of the Hoban Group Planning Division, Chairman Kim Seon-kyu of Hoban Group, Vice Chairman Song Jong-min of Taihan, Union Leader Kang Jin-yeon, Executive Director Kim Hyun-joo of the Taihan Production R&D Division.  [Photo Caption] The executives attending the ceremony are inspecting the first step of submarine cable plant 1.   Taihan’s Submarine Cable Plant Goes Live, Aiming for Global Supply Leadership- First Step of Submarine Cable Plant 1 Completed in May- Hoban Group and Taihan Leadership Present at Plant Opening Ceremony- Vice Chairman Song Jong-min: “Equipped with Production and Installation Capabilities, We Will Dominate the Market as a Game Changer” Taihan Cable & Solution is positioning itself as a key global supplier in the offshore wind power industry, armed with a robust submarine cable production infrastructure. On the 4th of May, Taihan (CEO Song Jong-min), announced the completion of the first step of its submarine cable plant 1 in the Godae district of the Asan National Industrial Complex in Dangjin-si, Chungcheongnam-do. The grand opening of the plant was celebrated the day before, on the 3rd. The ceremony welcomed notable executives in attendance from both Hoban Group and Taihan, including Chairman Kim Seon-kyu of Hoban Group, Vice Chairman Song Jong-min of Taihan, President Kim Dae-heon of the Hoban Group Planning Division, Executive Director Kim Jun-seok of the Taihan Corporate Management Division, Executive Director Kim Hyun-joo of the Taihan Production R&D Division, Union Leader Kang Jin-yeon, and Executive Director Kim Min-seong of Hoban E&C, Ltd. The event featured a tour of the submarine cable production line, a ceremony to mark the commencement of operations at the plant, and several commemorative speeches. The submarine cable plant 1 of Taihan, occupying around 44,800 square meters behind Godae Pier at Pyeongtaek’s Dangjin Port, is being constructed in two phases. The first step, which focuses on producing inter array cables, was finalized and approved this May. After a series of tests and prototype productions, the plant is scheduled to begin full-scale operations starting with the production of inter array cables for the Yeonggwang Nakwol offshore wind power project. In December of last year, Taihan secured a significant contract worth around KRW 100 billion to supply inter array cables for the same project in Yeonggwang-gun, Jeollanam-do. During the inaugural ceremony, Vice Chairman Song Jong-min highlighted the strategic importance of the newly completed facilities, stating, “With the completion of the Step 1 facilities of our submarine cable plant 1, we now have the capacity to satisfy the rapidly increasing annual demand for submarine cables.” He also noted, “With the new acquisition of the CLV(Cable Laying Vessel), we are now further equipped with installation capabilities, positioning us to emerge as a game changer in the global submarine cable industry.” He further emphasized, “We will expedite the construction of the second step of the submarine cable plant 1 and submarine cable plant 2 to build a diverse product portfolio, and, based on this, we will explore and pursue global opportunities.” The second step of the submarine cable plant 1, which includes facilities for the production of export cables, is currently under construction with plans for completion by the first half of 2025. The second submarine cable plant will feature state-of-the-art vertical continuous vulcanization (VCV) facilities for the production of export cables and HVDC cables, and is currently undergoing the final stages of review for site selection.

​Submarine Cable Laying Vessel Charter Agreement SignedTaihan has signed a charter agreement for a submarine cable laying vessel with Haechun, a company specializing in the laying of submarine cables and construction of underwater structures. The charter period is set from July this year until October 2025, totaling 16 months, with the charter fee amounting to 51 billion won.In December last year, the company acquired a dedicated submarine cable laying vessel, aiming to expand its submarine cable installation capabilities and secure new sources of revenue.A representative from Taihan stated, "This charter agreement serves as an opportunity to demonstrate the competitiveness of our vessel and the potential for new business expansion. By enhancing our submarine cable products and production capabilities and expanding the operational capacity of our laying vessels, we aim to emerge as a total solution provider in the submarine cable sector."