대한전선

Taihan has signed a MoU with Hanwha SolutionsOn the 26th of this month, Taihan and Hanwha Solutions entered into an MOU for the joint advancement of the “Global TOP Project.”The purpose of this MOU is to form a strategic partnership geared towards future growth engines. In a bid to emerge as the top tier of global businesses, the partners have committed to working together on product development, commercialization, acquiring certifications, and expanding their market reach. To this end, both parties are determined to provide full support through their respective core capabilities and technological expertise.Together, they will focus on the development and certification of crucial materials, including cross-linked polyethylene (XLPE) insulation used in high-voltage direct current (HVDC) and submarine cables, as well as extra-high-voltage (EHV) cables. The goal is to localize the production of materials and achieve technological independence, thereby enhancing the competitive advantage of Taihan’s cable products.In addition, the companies are set to bolster their cooperation in the eco-friendly energy sector. Through strategic alliances in the offshore wind power and solar energy sectors, they plan to foster tight-knit business and information exchanges while exploring new opportunities.Song Jong-min, Vice Chairman of Taihan, expressed confidence in the company's future prospects, stating, "By forging a strategic partnership with Hanwha Solutions, a leader in the global energy and petrochemical sectors, we anticipate significant improvements in our competitive edge across all business domains." He continued, "In response to the rapidly evolving global market, we aim to elevate national competitiveness and enhance corporate value by leveraging the exceptional technological strengths of both companies, expanding our collaborative efforts to encompass the entire group."

[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.

Taihan has been awarded a project worth around KRW 110 billion​Taihan has been awarded a project worth around KRW 110 billion involving replacement of an outdated power grid in the United States.  The project is designed to replace the aging power infrastructure with a new one in the southeastern state of Florida in anticipation of increasing power demand in the region. Taihan will be removing existing cables and supplying a 230kV EHV power grid as a full turnkey service. The successful bid for this contract is thanks to the recognition of the proven track record of Taihan in executing a variety of projects in the U.S. The proposal of new solutions for the replacement of aging power grids was instrumental in moving the project forward. For the New York project secured last year, a unique installation method with a U.S. patent was introduced to showcase laying technology tailored to the urban environment. By securing this deal, the company has brought its cumulative order value for the year to about KRW 200 billion in the U.S. alone. In just one quarter, Taihan has already achieved half of its record annual orders in the U.S. from fiscal year 2022 around KRW 400 billion. While rising electricity consumption and the expansion of renewable energy sources are driving an increase in the demand for power networks across the U.S., over 50% of the existing transmission infrastructure has surpassed 40 years of service, exceeding its life cycle, giving rise to strong anticipation of additional orders to follow. 

​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." 

Traverse Guide Puller Deployed in the U.S.  Taihan Cable & Solution has deployed its independently developed "Traverse Guide Puller" at a Extra high-voltage project site in New York, which the company secured in October last year.   This technology is a new equipment and construction method designed to allow the direction of cable unwinding to be freely changed during the laying of extra-high voltage cables. It proves especially effective in busy urban areas with heavy traffic and pedestrian congestion. The operation requires the occupation of only two traffic lanes, without the need for additional setups such as cranes and scaffolding, thereby reducing public inconvenience and shortening the construction period. In comparison, conventional methods necessitate occupying three or more lanes and additional equipment. Taihan has obtained patents for this technology in the United States, Australia, and South Korea, with patent proceedings also underway in Singapore. With this project, the company anticipates gaining a competitive edge in the rapidly expanding market for urban electrical grid replacement in the U.S. 

International Certification for EHV Submarine CableTaihan Cable & Solution has completed the development of a 154kV EHV submarine cable system and obtained KEMA international certification. KEMA is an accredited testing organization based in the Netherlands, highly regarded internationally in the field of electrical safety. The 154kV class submarine cables are primarily used for connecting offshore wind farms to the mainland through export cables, and for interconnections between lands and continents.   Taihan plans to produce the 154kV at its submarine cable plant 1 at Godae Pier in Dangjin City,which will be completed in 2025. Having developed and secured certification for this cable, Taihan is now positioned to bid on various submarine cable projects both domestically and internationally.​ 

Taihan will establish a HVDC cable test facilityTaihan has announced plans to actively respond to the growing global demand by setting up a specialized test facility for 640kV HVDC (High Voltage Direct Current) cables.  The dedicated test facility will be built on approximately 7,000 square meters (about 2,120 pyeong) of unused land at the Dangjin factory, which is one of Taihan's main production sites. The construction aims to be completed within the first quarter of next year, with a total investment of about 20 billion won. Taihan plans to equip the facility to simultaneously test two lines of HVDC cables, including both  land and submarine cables. Specifically, the facility will be capable of conducting long-term reliability tests (PQ Test), which can take more than a year, and Temporary Over Voltage (TOV) tests, recently adopted as a mandatory test item for international HVDC cables. This will complete the infrastructure needed to perform internationally recognized certifications.  

Taihan announced its tentative consolidated financial results for 2023On the 23rd, Taihan announced its tentative consolidated financial results for 2023, achieving sales of KRW 2,845 billion and an operating profit of KRW 78.4 billion. This represents a 16% increase in sales from KRW 2,450 billion in 2022 and a 63% growth in operating profit from KRW 48.2 billion. The net profit for the year stood at KRW 67.0 billion, marking a substantial 207% expansion from the previous year's KRW 21.8 billion. Last year's operating profit and net profit marked the highest performance in 15 years since 2008. Additionally, the sales reached the highest figure in 12 years since 2011. The backdrop of the outstanding performance can be attributed to the expansion of orders in key global markets such as the United States, Europe, and the Middle East. Since its integration into Hoban Group in 2021, Taihan has been able to create a stable management environment, allowing a focus on its core business. The company has been actively pursuing strategies to penetrate global markets.​​