Check out the news and other related information on Taihan.
Taihan is continuously striving for compliance management. We have conducted special compliance training for all employees by inviting external experts and have established a compliance support team dedicated to compliance matters. We will continue to make various efforts to establish a transparent and sound corporate culture
Taihan has signed an MOU related to wind power generation projectsOn the 28th, Taihan, along with its parent company Hoban E&C Co., Ltd. and Dream Engineering, a specialist company in renewable energy development, as well as Hana Bank, signed an agreement on joint development for a domestic wind power generation project. Through this agreement, we will collaborate on the development of onshore and offshore wind power projects and plan to proceed with projects based on future joint development agreements. We aim to become a leading company in the era of renewable energy through continuous investment and business expansion efforts
Taihan Cable & Solution announced record-breaking first-half results. The company reported KRW 1,458.3 billion in revenue and KRW 41.7 billion in operating profit. Its net income of KRW 22.1 billion is a nearly 15-fold increase from the previous year's KRW 1.4 billion. In particular, the first-half operating profit is the highest in 20 years, dating back to 2003, and surpassed the 40 billion won milestone for the first time since 2004. It has already reached more than 80% of last year's annual operating profit of KRW 48.2 billion in the first half of the year alone. The rise in earnings is expected to persist as the cable industry tends to perform better in the second half of the year.
Photo caption)Taihan conducts a certification test at KEPRI Gochang Power Test Center with the participation of KEMA Laps“First in Korea to be Certified in 90℃ Allowable Conductor Temperature”Taihan Completes the Development of 525kV VSC HVDC and Obtains International Certification- Ideal for long-distance transmission and renewables, driving demand in the U.S., Europe and beyond- Diversified HVDC portfolio to find business opportunities in various projects- Plans to focus on ensuring technology and business competitiveness in response to market expansionTaihan Cable & Solution has successfully developed the world's most advanced HVDC cable.Taihan (CEO Song Jong-min) announced on August 2 that it has completed the development of a 525kV VSC (Voltage Source Converter) HVDC (High Voltage Direct Current) land cable system and obtained internationally recognized certification. This was achieved in approximately eight months following the company's successful development of the first 500kV LCC (Line Commutated Converter) system in Korea last December.525kV is the highest voltage of HVDC cable commercialized to date, and only a few global companies have the technology due to the difficulty of development. In this development, Taihan designed the conductor cross-sectional area of the cable to be 3,000㎟ and raised the allowable conductor temperature of the conductor to more than 90℃ to achieve internationally recognized certification.The larger the cross-sectional area of the conductor and the higher the allowable conductor temperature, the more current it can carry, which is advantageous for large-scale power transmission, but Taihan is the only company in Korea to be certified with an allowable conductor temperature of over 90℃ for a 3,000㎟ conductor. It is not easy to find successful development cases overseas, so Taihan is credited with taking HVDC cable technology to the next level.HVDC is a method of converting alternating current (AC) power generated by power plants into direct current (DC) and transmitting it, and is considered a key technology for long-distance, high-capacity power transmission. According to the conversion method, it is divided into Voltage Source Converter (VSC) and Line Commutated Converter (LCC), and VSC is becoming a global trend because it can be transmitted in both directions and converter stations are easy to install. As the application of HVDC in renewable energy generation, such as wind and solar power, is actively expanding, the demand is expected to increase.In fact, transmission system operators (TSOs) in Europe are adopting voltage-type HVDC for many of their recent grid-connected renewable energy projects and cross-border supergrid projects.An official from Taihan said, "Following the certification of 500kV LCC HVDC cables for the first time in Korea, we have secured unrivaled technological competitiveness in 525kV VSC HVDC cables." "As investment in power infrastructure expands worldwide, especially in developed markets such as the United States and Europe, we will be able to secure business opportunities in various HVDC projects.""Once the submarine cable plant under construction in Dangjin, Chungcheongnam-do, is completed, we will accelerate the development and certification of submarine HVDC cable systems. As the HVDC market continues to expand in the medium to long term, we are committed to ensuring our technological and business competitiveness.According to industry estimates, the global market for HVDC cables will expand from KRW 70 trillion in 2020 to KRW 159 trillion in 2030.Meanwhile, in anticipation of the expanding demand for HVDC, Taihan has selected HVDC cables as a key driver and has made efforts to develop them. After successfully developing 500kV MI-PPLP (Mass Impregnated cables insulated with polypropylene laminated paper) HVDC cables in 2017, it successfully developed 500kV XLPE voltage and current HVDC in 2022.
Taihan Secures $65 Million Power Grid Project in KuwaitTaihan has reaffirmed its competitive edge in the Middle East market by securing a major project in Kuwait. The contract for the EHV Power Grid Turnkey Project, commissioned by the Kuwait MEW(Ministry of Electricity and Water & Renewable Energy), was awarded to the company for $65 million. This significant undertaking involves the construction of an underground power grid connecting existing substations in Kuwait City, the country's capital. The project aims to respond to the city’s increased power demand as smoothly as possible. It will be carried out in a turnkey manner, with Taihan responsible for all phases, including the supply of 300kV grade EHV cables and accessories, power grid design, installation, connection, and testing. Relying on its long-accumulated Middle Eastern network and technical prowess, Taihan is committed to securing more contracts in the future.
Song Jong-min Assumes Office as the New CEO of Taihan Cable & Solution Co., Ltd., Promising to Achieve Sustainable Growth Song Jong-min, Vice Chairman of Hoban E&C Co., Ltd., has taken up a new role as CEO of Taihan Cable & Solution Co., Ltd., laying the groundwork for the company's future. In March 2023, Taihan designated Song Jong-min, then Vice Chairman, as a prospective CEO. Following an extraordinary general meeting and a meeting with the board of directors on 17th May, 2023, his appointment was officially confirmed. Song Jong-min joined Hoban Construction Co., Ltd. in 2000, and has since then acquired substantial expertise in finance, accounting, and management by undertaking a variety of roles within the group. He was appointed as the CEO and President of Hoban Construction Co., Ltd. in 2018, where he contributed significantly to the company's growth and business diversification. In 2022, he was promoted to Vice Chairman and CEO of Hoban E&C Co., Ltd., the parent company of Taihan Cable & Solution Co., Ltd., and oversaw the integration process after the acquisition of Taihan Cable & Solution Co., Ltd. During his inaugural speech, Song Jong-min expressed his commitment to succeed, stating, "I will provide full support and reinforce investment to encourage quality improvements and technical developments. I am committed to exploring new growth drivers and business opportunities to achieve sustainable growth."