대한전선

Taihan Selected as Government’s “Leading Company for Supply Chain Stabilization” in Submarine Cable Sector

- First company in Korea’s wire and cable industry to be designated under the government-led program

- Recognized for intensive investment in submarine cables and efforts to stabilize the offshore wind supply chain

- Company commits to strengthening the submarine cable supply chain and supporting the sustainable development of the national energy industry

Taihan Cable & Solution announced that it has been selected by the Government of the Republic of Korea as a “Leading Company for Supply Chain Stabilization” in the submarine cable sector, becoming the first company in Korea’s wire and cable industry to receive this designation. The designation is valid for an initial period of three years from the date of selection and may be extended for up to five years.

The “Leading Company for Supply Chain Stabilization” program identifies companies that proactively respond to global supply chain risks while enhancing the self-reliance and competitiveness of domestic industries. Designated companies receive various forms of support, including financial assistance, policy support, and tax incentives.

Taihan explained that its selection reflects comprehensive investments to strengthen submarine cable manufacturing and installation capabilities, as well as its contribution to stabilizing the supply chain for Korea’s offshore wind power industry. Submarine cables are a critical component of offshore wind power, a key pillar of the energy transition, and any disruption in their supply can delay individual projects and hinder the broader growth of the renewable energy sector.

According to Korea’s 11th Basic Plan for Long-Term Electricity Supply and Demand, the domestic offshore wind market is projected to grow rapidly to approximately 14 GW by 2030. In this context, Taihan’s aggressive investments and technology development are regarded as key solutions for addressing structural shortages in submarine cable supply.

In anticipation of growing demand and global supply constraints, Taihan declared the full-scale expansion of its submarine cable business in 2020 and has since strengthened its turnkey capabilities through major investments. These include the construction of a dedicated submarine cable plant, the acquisition of PALOS, Korea’s only offshore wind cable-laying vessel (CLV), and the acquisition of a specialized installation subsidiary. These efforts have enabled the company to secure and supply major domestic offshore wind projects, including Yeonggwang-Nakwol and Anma.

Furthermore, Taihan is constructing a second submarine cable plant capable of producing 640 kV HVDC submarine cables and is reviewing the acquisition of a dedicated HVDC cable-laying vessel. These initiatives are progressing as part of the company’s preparation to participate in national strategic projects, including the “West Coast Energy Highway.”

A Taihan official stated, “This designation reaffirms our role in establishing a stable offshore wind power value chain in Korea. Leveraging continued facility investment and technological development, we will further strengthen the submarine cable supply chain and contribute to the sustainable advancement of the national energy industry.”

Companies selected as Leading Companies for Supply Chain Stabilization receive priority access to the Supply Chain Stabilization Fund, as well as various benefits such as government financial support and tax reductions.