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Taihan Surpasses KRW 3 Trillion in Order Backlog for the First Time, Achieving All-Time High Performance

- Order Backlog Reaches KRW 3.25 Trillion as of End of August, a 3.5-Fold Increase Over Five Years with a Compound Annual Growth Rate​ of 30%

- Secured New Orders of KRW 510 Billion in August Alone from Projects Including Anma Offshore Wind, Singapore, and Qatar

- Accelerating Global Power Infrastructure Market Penetration by Strengthening Competitiveness in Submarine and HVDC Cables

Taihan is demonstrating robust growth, recording its highest-ever order backlog. The company announced that its order backlog reached KRW 3.25 trillion as of the end of August, marking the first time it has exceeded the KRW 3 trillion threshold and setting a new all-time record. This represents a substantial 3.5-fold increase from KRW 945.5 billion at the end of 2020, just before its acquisition by the Hoban Group, with a compound annual growth rate (CAGR) of over 30% during this period.

This backlog figure exclusively tracks long-term, high-profit project-based orders, primarily consisting of extra-high-voltage power grids. It does not include sales from its materials business (such as processed copper wire), communication cables, or domestic private sector sales.

In August alone, Taihan secured over KRW 510 billion in new orders, which significantly contributed to the backlog expansion. These key projects include: the Anma Offshore Wind Submarine Cable Project (KRW 181.6 billion), the Singapore 400kV Extra-High-Voltage Power Grid Project (KRW 110 billion), and the Qatar Extra-High-Voltage Power Grid Project (KRW 220 billion). All these are large-scale projects to build submarine and extra-high-voltage underground cables in both domestic and international markets, to be executed on a full turnkey basis, covering everything from cable production and connection to construction and testing.

Taihan attributes the order expansion to its extensive experience in executing projects and its turnkey capabilities in key global markets. For example, in Singapore, Taihan has secured five consecutive 400kV turnkey projects, leading to a number one market share in the 400kV and higher voltage sector. Similarly, in Qatar, the company has strengthened its position as a key supplier by successfully completing numerous projects over several decades.

Moving forward, Taihan plans to secure sustained growth by strengthening its competitiveness in the submarine and HVDC cable sectors. To this end, the company has confirmed its investment in a second submarine cable factory capable of producing 640kV HVDC submarine cables. Additionally, by acquiring Ocean C&I, a specialized submarine cable construction firm, Taihan has secured the capability to provide a full value chain, from production and transport to installation and maintenance.

A Taihan official stated, “We have achieved our highest-ever order backlog by proving our technological and execution capabilities in extra-high-voltage power grids and submarine cables, both domestically and internationally. We will continue to advance our business capabilities in submarine and HVDC cables to play a pivotal role in next-generation power infrastructure projects, including the 'West Coast Energy Superhighway' initiative.”

◎ Order Backlog Status for the Past 5 Years​                                        (Unit: KRW 100 million)​