대한전선

Taihan Accelerates Expansion into Vietnam’s Energy Infrastructure Market, Signs MOU with Local EPC Firm

- Vice Chairman Song Jong-min signs MOU with NEWTECONS during Vietnam economic delegation visit

- Discusses mid- to long-term cooperation, including HVDC power grid projects, with Vietnam Electricity (EVN)

- “Will contribute to strengthening energy infrastructure cooperation and stabilizing supply chains”

Taihan Cable & Solution is accelerating its expansion into Vietnam’s energy infrastructure market through a strategic partnership with a local company.

The company announced that it has signed a Memorandum of Understanding (MOU) with NEWTECONS, a leading EPC (Engineering, Procurement and Construction) and construction infrastructure company in Vietnam, to cooperate on power cable supply and infrastructure projects. The agreement aims to establish a collaborative framework to enhance competitiveness across Vietnam’s energy infrastructure sector.

The signing ceremony took place on April 23 (local time) during the Korea–Vietnam Business Forum, an official event held in conjunction with the Korean economic delegation’s visit to Vietnam. The event, held in Hanoi, was attended by key government officials from both countries, including representatives from Korea’s Ministry of Trade, Industry and Resources and Vietnam’s Ministry of Finance, as well as Taihan Vice Chairman Song Jong-min and NEWTECONS CEO Nguyen Quang Thuy.

NEWTECONS is a prominent EPC and construction infrastructure company in Vietnam, with a strong track record in executing large-scale projects such as Long Thanh International Airport, industrial complexes, and high-rise mixed-use developments. The company has established a solid presence in the local construction market based on its proven execution capabilities and extensive experience.

Through this MOU, the two companies plan to combine Taihan’s manufacturing expertise in power cables with NEWTECONS’ construction and engineering capabilities to strengthen competitiveness in energy infrastructure projects. They also aim to establish a stable supply system and project execution framework. Leveraging this partnership, both parties will explore joint business opportunities to meet growing local infrastructure demand and expand cooperation through technical advisory and information exchange.

Vice Chairman Song Jong-min stated, “This agreement, signed during the Korean economic delegation’s visit to Vietnam, is expected to contribute to strengthening bilateral cooperation in the energy infrastructure sector and stabilizing supply chains. Our collaboration with NEWTECONS, a leading local EPC company, will serve as a significant opportunity to expand business in Vietnam’s rapidly growing energy infrastructure market.”

Prior to the forum, on April 22 (local time), Taihan visited the headquarters of Vietnam Electricity (EVN) in Hanoi to discuss mid- to long-term cooperation plans. Vice Chairman Song, accompanied by the head of Taihan Vina, met with EVN CEO Nguyen Anh Tuan and other senior executives to share updates on HVDC power grid projects and the construction status of Vietnam’s first 400kV-class EHV (Extra High Voltage) cable plant. Both sides also held in-depth discussions on potential collaboration and technical exchange in the extra-high-voltage power grid sector and agreed to further expand their partnership.

Taihan has designated Vietnam as its second global production hub and continues to expand investments in local manufacturing infrastructure. Taihan Vina serves as the core base, where the company is currently constructing Vietnam’s first 400kV-class EHV cable plant, scheduled for completion in 2027.

Meanwhile, Vietnam is experiencing rapidly increasing demand for power infrastructure driven by fast-paced industrialization and urbanization. Electricity demand is expected to grow at an annual rate of approximately 10–12% through 2030. In particular, the expansion of transmission and distribution infrastructure and industrial complexes is driving sustained demand for high-quality power cables.