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Taihan Strengthens Partnership with Hyosung to Target the 'Next-Generation Power Market'
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Taihan Strengthens Partnership with Hyosung to Target the 'Next-Generation Power Market'
Taihan announced on the 22nd that it had signed a memorandum of understanding (MOU) with Global Top-Tier Hyosung Group for “technical cooperation in the power industry and discovery of new business models.”
Taihan seeks to forge a strategic partnership with Hyosung Group through this MOU, striving to boost its competitive advantage in the power industry. The plan is to combine the core strengths of each company to jointly develop new technologies and materials while extending their reach into the global market.
Taihan will jointly work on enhancing an AI-powered asset management system for power infrastructure with Hyosung Heavy Industries. With the integration of Taihan’s partial discharge condition monitoring system and Hyosung Heavy Industries’ asset remote management system (ARMOUR plus), they are set to unveil an enhanced solution for power infrastructure management. This safety diagnostic solution enables real-time monitoring of the entire power system, including various electrical facilities and connecting cables, allowing for the early detection of abnormalities and prevention of failures.
As the rising global power demand drives the growth of the asset management market focused on minimizing power infrastructure failures, various business opportunities are expected to emerge.
Also Taihan will collaborate on the joint development and commercialization of eco-friendly new materials with Hyosung Chemical. In particular, the plan involves developing eco-friendly polypropylene (PP) material, which is gaining attention as a next-generation cable insulation material, in order to achieve localization and boost their competitive edge in the global arena.
With a simpler production process than traditional XLPE-insulated cables, PP cables enable effective power transmission and are considered suitable for HVDC, a key facility for efficient long-distance transmission. Being a thermoplastic resin, the PP cables are recyclable post-use and have minimal CO2 emissions during the production process, driving high demand in advanced markets like Europe, where carbon neutrality standards are stringent.
