PR
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 leadership
Taihan 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.
