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Taihan is holding its Third Quarter Investor Relations (IR) session.  Consolidated Financial Performance and Order Backlog (Last 5 Years)  Taihan Reports Record Cumulative Revenue for Q3 — Order Backlog Surpasses KRW 3.4 Trillion, Setting a New All-Time High– Revenue of KRW 855 billion and operating profit of KRW 29.5 billion, both up year-on-year– Secured KRW 900 billion in new orders in Q3 alone, sustaining robust growth momentum– Strengthened HVDC submarine cable capabilities, “Steady Progress Toward the West Coast Energy Expressway”– Continuous and stable growth built on a solid financial foundation following Hoban Group acquisition Taihan has reported the highest cumulative revenue in its history for the third quarter, underscoring its consistent and sustainable growth trajectory. On October 30, Taihan announced its provisional consolidated results for Q3, recording revenue of KRW 855 billion and operating profit of KRW 29.5 billion, representing increases of 6.3% and 8.5%, respectively, compared to the same period last year (KRW 804.4 billion in revenue and KRW 27.2 billion in operating profit). Cumulative revenue for the first three quarters reached KRW 2.6268 trillion, the highest in the company’s history. This performance was primarily attributable to robust sales growth in global markets such as the Americas and Europe, as well as stable revenue recognition from submarine cable projects, including the Yeonggwang–Nakwol Offshore Wind Project. The company’s order backlog also hit an all-time high. Taihan secured new orders worth KRW 913 billion during the third quarter, bringing the total backlog to KRW 3.4175 trillion at the end of September—more than triple the figure recorded at the end of 2021 (KRW 1.065 trillion), when the company was acquired by Hoban Group. This surge reflects continued expansion in key business segments such as Extra-high-voltage (EHV) power transmission networks and submarine cables across both domestic and overseas markets. In the third quarter alone, Taihan won several large-scale projects, including the Anma Offshore Wind Power Project (KRW 181.6 billion), the Singapore 400kV EHV power grid project (KRW 109.8 billion), and two EHV power transmission projects in Qatar (totaling KRW 220 billion), demonstrating the company’s technological excellence and global competitiveness. On the same day, Taihan held an Investor Relations (IR) session for institutional investors and analysts, where it presented its quarterly results, major achievements, and investment activities. The company highlighted its expanding investments in the submarine cable business, emphasizing that preparations for participation in the “West Coast Energy Expressway” are progressing smoothly. In July, Taihan acquired a specialized submarine cable installation company to reinforce its turnkey project execution capabilities. In September, the company broke ground on its second submarine cable plant, which will produce 640kV HVDC and 400kV HVAC submarine cables. Located on a 215,000㎡ site, the new plant will feature cutting-edge equipment, including a 187-meter VCV tower—the tallest in Korea—and will provide more than five times the production capacity of the first submarine plant upon completion. Taihan also reported a strengthened financial structure since its acquisition by Hoban Group in 2021. The company’s debt ratio has improved from 266% to the 90% range, while maintaining a current ratio of 182.3% and a borrowing dependency of 27.8%, reflecting strong and stable financial soundness. A Taihan spokesperson stated, “We achieved a record-high order backlog by earning recognition for our technological excellence and execution capabilities in the global EHV and submarine cable sectors,” and added, “We will continue to enhance our business centered on HVDC and submarine cable solutions, taking a leading role in major power infrastructure projects such as Korea’s ‘West Coast Energy Expressway’ and other key global initiatives.” 

Taihan’s investor relations (IR) briefing session is in progress.    Taihan Achieves Record-High First-Half Revenue of KRW 1.77 Trillion- Q2 Sales Surpass KRW 900 Billion; Order Backlog Hits All-Time High of KRW 2.9 Trillion- Three Consecutive Quarters of Revenue and Operating Profit Growth Since Q4 2024- High-Voltage Projects and Overseas Subsidiaries Drive Strong Performance- IR Session Highlights Submarine Cable Business Strategy and Global Competitiveness Taihan has recorded its highest-ever first-half revenue, exceeding KRW 1.77 trillion. According to a provisional earnings disclosure on July 31, Taihan has posted KRW 1.7718 trillion in consolidated revenue and KRW 55.7 billion in operating profit for the first half of 2025. This represents a 7.2% increase from KRW 1.6529 trillion in the same period last year, setting a new performance record in the company’s history. In the second quarter, Taihan recorded KRW 916.4 billion in revenue and KRW 28.6 billion in operating profit, reflecting quarter-on-quarter growth of 7.1% and 5.4%, respectively. This marks the third consecutive quarter of simultaneous revenue and operating profit growth since Q4 2024, indicating continued positive momentum. Notably, quarterly sales surpassed KRW 900 billion for the first time in nearly 15 years, since Q3 2010. The company attributed its robust performance to increased new orders and project revenue realization in global markets. Taihan secured multiple high-voltage cable projects across key regions, including Europe, the United States, and Asia, with an order backlog reaching a historic high of approximately KRW 2.9 trillion at the end of the first half. Revenue from overseas subsidiaries also played a significant role in driving growth. Sales at European subsidiaries—particularly in Germany and the Netherlands—as well as production subsidiaries such as M-TEC in South Africa, increased notably compared to the previous year. On the same day, Taihan held an Investor Relations (IR) session for institutional investors and analysts, providing updates on its Q2 performance and key business issues. The company underscored its global competitiveness in the submarine cable sector and announced it is actively preparing to participate in major domestic and international projects, including the West Coast Energy Highway. Taihan also stated that it is thoroughly reviewing strategies to minimize the impact of U.S. tariffs. A Taihan spokesperson commented, “Driven by strong global demand for power infrastructure investments and the replacement of aging grids, we will continue to strengthen our competitiveness in high-value-added products such as submarine and HVDC cables. Through ongoing performance improvements and active investor communication, we aim to enhance corporate value and reinforce our position as a global leader in the power infrastructure market.”​ 

Taihan Upgraded to 'A' by Korea Ratings—Secures 'A' Ratings from All Three Major Korean Credit Rating Agencies- Korea Ratings upgrades Taihan following NICE Investors Service and Korea Investors Service, assigning an ‘A’ grade with a ‘Stable’ outlook- Upgrade reflects improved profitability, business stability, and sound financial structure- Diversified product portfolio and strong order backlog are expected to sustain continued growthTaihan has received an Issuer Credit Rating (ICR) of ‘A’ with a ‘Stable’ outlook from Korea Ratings (KR), an upgrade from its previous ‘A-, Positive’ rating in 2022. With this latest upgrade, Taihan has now secured ‘A’ credit ratings from all three leading Korea’s credit rating agencies, evidencing official recognition of the company’s robust financial performance and growth potential. Previously, the company was granted ‘A’ ratings from NICE Investors Service in June and Korea Investors Service on July 10. KR identified several key drivers for the rating upgrade: ▲ Expansion in Revenue and Profitability ▲ Maintenance of a Stable Financial Structure ▲ Expectations of Improved Operating Performance Supported by a High-quality Order Intake.  In its official report, KR stated: “Amid favorable business conditions, Taihan is expected to maintain enhanced profitability and stable operating cash flow, underpinned by a diversified product portfolio and continued strong order performance. While investment requirements are expected to rise with ongoing business expansion, the company is anticipated to sustain sound financial stability through its financial buffers and operating cash flow generation capacity.” Additionally, KR highlighted, “Order backlogs have improved both in quantity and quality, with the company securing new orders from global clients across regions such as the United States and Europe, resulting in greater profitability compared to previous periods. Based on its proven track record in both domestic and international cable supply and project execution, Taihan is expected to consistently secure new orders going forward.” A Taihan spokesperson commented, “Receiving ‘A’ ratings from all three major Korean credit agencies is external recognition of both our business growth and financial stability. We will further strengthen our market competitiveness by expanding into the submarine cable and high-voltage direct current (HVDC) cable sectors, ensuring sustainable growth as a trusted partner for our global customers.” 

Photo) Bird’s-eye view of Taihan’s Dangjin submarine cable plant 2​Taihan Decides to Invest USD 360 million in HVDC Submarine Cable Plant Construction… Growth Accelerates- Submarine cable plant 2 to break ground within the Year, with full-scale operation aimed for 2027- In preparation for expanding global HVDC submarine cable demand and the offshore wind power market- VCV tower to be established…Full-scale preparation for the ‘West Coast Energy Highway’- Vice Chairman: “We will lead the global submarine cable market with our turnkey competitiveness.” Taihan launches large-scale investment to strengthen HVDC submarine cable competitiveness and secure growth drivers.  On the 16th, Taihan announced in a regulatory filing that its board of directors has approved an investment of approximately 360 million USD (497.2 billion KRW) for the first phase of construction of the Dangjin submarine cable plant 2 (hereafter 'submarine cable plant 2'), which will be capable of producing HVDC submarine cables. This large-scale investment is aimed at expanding the company’s production infrastructure to meet rising global and domestic demand for submarine cables, the growth of the offshore wind power market, and participation in the accelerating “West Coast Energy Highway” project. The investment period is scheduled through December 2027. Following the investment decision, Taihan plans to break ground on submarine cable plant 2 within the year. The first phase of the new plant will be a dedicated facility capable of producing 640kV-class HVDC (High Voltage Direct Current) and 400kV-class HVAC (High Voltage Alternating Current) submarine cables. It will be equipped with cutting-edge technologies, including a VCV (Vertical Continuous Vulcanization) system — a core facility for manufacturing extra-high-voltage cables. The first phase of the plant is targeted to begin operation in 2027. A second phase of investment to further expand production capacity will be strategically pursued based on future market conditions. The site for Taihan submarine cable plant 2 is located in the Godae District of the Asan National Industrial Complex in Dangjin, Chungcheongnam-do, adjacent to the company’s existing submarine plant 1. The site spans approximately 215,000 square meters — equivalent to about 30 soccer fields. Once operational, the new plant is expected to deliver production capacity nearly five times greater than that of submarine cable plant 1. With this expansion, all of Taihan’s domestic production infrastructure — including the cable plant, solution plant, and both submarine cable plants 1 and 2 — will be concentrated in Dangjin, creating strong human and logistical synergies. Vice Chairman Song Jong-min stated, “By moving forward with the construction of submarine cable plant 2, we are not only responding to the growing demand for HVDC submarine cables, but also positioning ourselves to actively participate in the expanding ‘West Coast Energy Highway’ project.” He added, “With our turnkey competitiveness in submarine cables, we aim to lead the global market, strengthen national competitiveness, and contribute to energy security.” This investment is driven by the growing global demand for submarine cables. The submarine cable market, valued at approximately USD 4.3 billion in 2022, is projected to expand to around USD 20 billion by 2029. In particular, the global HVDC submarine cable segment is experiencing rapid growth, fueled by the development of supergrids — cross-border power transmission networks — and the large-scale expansion of offshore wind power generation. To respond to this growing demand, Taihan is steadily expanding its production capacity in phases. The company has also secured PALOS, Korea’s only CLV (Cable Laying Vessel), enabling it to manage the entire submarine cable value chain — from design and manufacturing to transportation, installation, and maintenance. As only a handful of companies worldwide possess full turnkey capabilities in the submarine cable sector, Taihan is well-positioned to secure a wide range of business opportunities in the years ahead. 

Taihan’s Credit Rating Upgraded to ‘A’ by Korea Investors Service- Korea Investors Service upgrades Taihan’s credit rating from ‘A-’ to ‘A’, maintaining a Stable outlook- Upgrade follows NICE Investors Service’s reaffirmation of the same rating- Evaluation highlights improved profitability, business stability, and a strengthened financial structureTaihan has been upgraded to an ‘A’ Issuer Credit Rating (ICR) with a Stable outlook by Korea Investors Service (KIS), one of Korea’s leading credit rating agencies. This represents an improvement from the previous ‘A-/Stable’ rating issued in 2023, further validating the company’s external creditworthiness. KIS identified several factors for the upgrade, including: △A stable and diversified business foundation △Revenue growth and consistent profitability △An improved financial structure. In its report released on July 10, KIS stated, “Taihan has established a stable business base through a diversified product portfolio and is actively pursuing further diversification, particularly in high-value-added areas such as submarine and optical cables.” KIS further noted: “Despite the volatility in copper prices, Taihan has maintained relatively stable operating profit margins thanks to its vertically integrated production structure.” “Following its acquisition by Hoban Group, the company has improved its financial structure through capital injections and paid-in capital increases. It is expected to maintain financial stability with both these funds and cash flows from operations.” The agency also emphasized Taihan’s growing order backlog, citing increased new orders in international markets such as Singapore, the UK, and Sweden. “Consolidated net debt has improved substantially, decreasing from KRW 456.7 billion at the end of 2021 to negative KRW 126.1 billion as of March 2025.” Notably, this credit rating upgrade was implemented without a prior adjustment in the rating outlook, which is uncommon. While agencies typically revise the outlook to ‘Positive’ before upgrading a rating, KIS directly raised the credit rating while maintaining a ‘Stable’ outlook—signaling high external confidence in Taihan’s improved credit standing. Earlier in June, NICE Investors Service, another major Korean credit rating agency, also reaffirmed Taihan’s credit rating at ‘A (Stable)’, reflecting ongoing recognition of the company’s performance and financial soundness. As a result, Taihan now holds ‘A’ ratings from both of Korea’s top rating agencies. A company spokesperson stated, “This credit rating upgrade reflects external recognition of our strong profitability, financial stability, and competitiveness in high-value-added sectors. We believe the market’s growing trust in our submarine and HVDC cable solutions played a significant role.” The spokesperson added, “Through responsible management and continued business expansion, we will continue to strengthen our corporate value and lay the foundation for sustainable growth.” An Issuer Credit Rating (ICR) reflects a company’s overall business profitability and debt repayment capacity and is a key indicator of its external creditworthiness. Since joining Hoban Group, Taihan has built a solid financial and business foundation and continues these assessments to foster trust among clients and stakeholders. 

Photo 1. Taihan and SuperNode signed an MOU for the development of next-generation superconducting cables. (From left: Taihan Vice Chairman Song Jong-min, SuperNode CEO John Fitzgerald) Photo 2. Representatives from Taihan and SuperNode pose for a commemorative photo following the MOU signing. (Front row, from left: Taihan Vice Chairman Song Jong-min, SuperNode CEO John Fitzgerald)​   Taihan Signs MOU with SuperNode to Co-Develop Next-Generation Superconducting Cables, Advancing Future Grid Technologies- Partners with the Irish cable company SuperNode to develop high-performance superconducting cables through collaboration in design, manufacturing, and materials- Achieves significant improvements in efficiency and ease of installation compared to conventional superconducting cables- Vice Chairman Song Jong-min stated, “We will lead the global superconducting cable industry through technological advancement” Taihan has established a strategic partnership with the global superconducting cable company SuperNode to co-develop next-generation superconducting cables, thereby solidifying its position as a leader in future power infrastructure solutions. On June 17 (local time), Taihan signed a Memorandum of Understanding (MOU) with the Irish cable firm SuperNode in London, UK. The signing ceremony was attended by over 20 representatives from both companies, including SuperNode CEO John Fitzgerald, CTO Andrew Carlisle, Taihan Vice Chairman Song Jong-min, and Nam Jeong-se, Executive Director of the Global Energy Division. Headquartered in Dublin, SuperNode specializes in the development of superconducting cable systems for transmission, distribution, and data center applications. The company possesses proprietary design technology that significantly enhances efficiency and simplifies installation compared to traditional superconducting cables. By adopting innovative polymer-based materials instead of conventional stainless-steel corrugated sheaths, SuperNode’s technology reduces cooling losses and extends the installation interval of cooling systems by more than five times—improving operational efficiency and reducing costs. This MOU aims to establish a collaborative framework for the joint development and production of advanced superconducting cables. Taihan and SuperNode will collaborate closely across design, manufacturing, and materials, strengthening technological competitiveness through extensive technical exchanges, including the sharing of cable technology. Additionally, the companies will explore opportunities for joint participation in global superconducting cable projects. “We are very pleased to collaborate with Taihan in preparing for the large-scale production of next-generation superconducting cables,” said SuperNode CEO John Fitzgerald. “By combining Taihan’s over 80 years of manufacturing excellence with our innovative design technology, we anticipate accelerating the commercialization of high-capacity superconducting cables that will facilitate electrification in renewable energy and data center markets.” Vice Chairman Song Jong-min stated, “Through the integration of Taihan’s cable manufacturing expertise with SuperNode’s advanced superconducting design capabilities, we are confident in our ability to enhance our global competitiveness in the superconducting sector. We will continue to lead the growth of the global superconducting cable industry through technological advancements.” Superconducting cables utilize specialized materials that demonstrate zero electrical resistance when cooled below a specific temperature, serving as an alternative to traditional copper conductors. In comparison to copper or aluminum cables, superconducting cables provide significantly enhanced power transmission efficiency. Unlike conventional cables, which necessitate higher voltages to transport large currents, superconducting cables can transmit high-capacity currents at lower voltages, establishing them as a fundamental technology for next-generation power infrastructure.​

Taihan Initiates Comprehensive Expansion of Busduct Business to Enhance Production Capacity and Product Competitiveness- Expands dedicated busduct manufacturing facility to three times its original scale and installs advanced production equipment- Commences production of epoxy-insulated busducts to drive entry into the high-capacity power distribution market- Strengthens technological capabilities and diversifies product portfolio to address growing global demandTaihan has commenced a comprehensive expansion of its busduct business aimed at substantially enhancing production capacity and broadening its product portfolio. The company has expanded its dedicated busduct manufacturing facility within the Dangjin Cable Plant in Chungcheongnam-do to approximately three times its previous scale. This expansion was accompanied by the installation of advanced core equipment to significantly reinforce production capabilities. The facility expansion project, initiated in November of last year, was completed this month, with full-scale mass production officially commencing last Tuesday. To improve both production efficiency and product competitiveness, Taihan has expanded its existing PET (polyethylene terephthalate) insulation line and newly introduced epoxy insulation systems, which are known for their superior thermal resistance and high dielectric strength. Epoxy-insulated busducts are engineered to deliver stable performance in high-voltage and high-temperature environments, making them particularly well-suited for mission-critical infrastructure such as data centers, smart buildings, and semiconductor manufacturing facilities. This strategic investment is expected to accelerate Taihan’s entry into the expanding high-capacity power distribution market. A company spokesperson stated, “Recognizing the strong growth trajectory of the global busduct market, Taihan remains committed to advancing our technological competitiveness through continuous investment in R&D and product innovation.” The spokesperson added, “We have supplied our in-house developed busduct solutions to domestic and international clients with proven reliability, and this expansion will serve as a catalyst for securing new business opportunities.” Busducts are integrated power distribution systems used to supply stable electricity to large-scale buildings and industrial facilities. As global infrastructure scales up and energy consumption intensifies, demand for efficient and reliable power delivery systems continues to rise. According to industry sources, the global busduct market is projected to grow from KRW 14 trillion in 2022 to approximately KRW 23 trillion by 2028. 

South African Ambassador Visits Taihan's Plant to Discuss Business Expansion in South Africa​- Toured large-scale cable manufacturing plant and discussed South Africa's power industry.- Shared business plans for M-TEC, Taihan's South African production corporation.- Vice Chairman Song: “We will enhance M-TEC’s competitiveness to drive exports across Africa.”- Ambassador Mququ: “With South Africa's growing commitment to renewable energy, Taihan is expected to play a pivotal role.” Taihan reinforces its leadership in the African cable market. On April 19, Taihan (CEO Song Jong-min) announced that the South African Ambassador to Korea visited its Dangjin cable plant on April 18 to discuss strategies for expanding Taihan’s business in South Africa. The meeting was held at the plant to provide a comprehensive understanding of the cable production process and allow firsthand experience of Taihan’s large-scale manufacturing facilities. The visit was attended by H.E. Ms. Sindiswa Mququ, South African Ambassador to Korea; Mr. Thulane Nyembe, Counsellor Political; and Mr. Kwangsu Jin, Marketing Officer. Taihan was represented by Vice Chairman Song Jong-min and Executive Director Baek Seung, Head of Corporate Management. This marked Ambassador Mququ’s first corporate visit since assuming her post in October. During the visit, Ambassador Mququ toured the Dangjin cable plant and engaged in discussions with Vice Chairman Song regarding South Africa’s power development strategies. They reviewed the current status and future support plans for M-TEC, Taihan’s South African production corporation, including plans to expand its facilities. To enhance its production capacity, M-TEC will introduce new production lines for medium- and low-voltage (MV/LV) cables in the first half of this year, improving both volume and quality. Further discussions covered ongoing and upcoming projects with Eskom, South Africa’s state-owned power company. The parties also explored ways to strengthen local technical expertise through training programs and workforce exchange initiatives. Ambassador Mququ expressed appreciation for Taihan’s contributions to stabilizing South Africa’s power supply and creating jobs. She remarked, “With South Africa's growing commitment to renewable energy, including solar and offshore wind power, we expect Taihan to play a pivotal role in the sector.” Vice Chairman Song stated, “Africa presents vast opportunities for business expansion due to its rich natural resources and skilled workforce. South Africa, in particular, is a key market given its advanced economic and educational infrastructure.” He continued, “We will strengthen M-TEC’s competitiveness to drive revenue growth in South Africa and expand exports to neighboring African countries.” M-TEC, established in 2000 through Taihan's strategic investment, is a comprehensive cable manufacturer that supplies a wide range of power and communication cables. The company currently employs approximately 350 staff. 

Taihan announced on the 28th that its consolidated financial statements for Q3 provisionallyTaihan announced on the 28th that its consolidated financial statements for Q3 provisionally indicated sales amounting to KRW 804.4 billion with an operating profit of KRW 27.2 billion. Sales surged by 28% from the prior year’s KRW 630 billion, while operating profit marked a 56% growth, up from KRW 17.4 billion. Notably, this third-quarter operating profit stands as the largest on record since the adoption of the Korean International Financial Reporting Standards (K-IFRS) in 2010 for measuring consolidated quarterly performance. Total sales for the first three quarters amounted to KRW 2.4573 trillion, while operating profit reached KRW 93.4 billion, demonstrating respective year-over-year growths of 18% and 58% when compared to KRW 2.0883 trillion and KRW 59.1 billion during the same period last year. The cumulative operating profit for this year exceeds by over 17% the annual operating profit of KRW 79.8 billion achieved in 2023. Sales have also reached their peak in the last 13 years, marking the highest since 2010. The primary factor behind the boost in performance is identified as the steady generation of sales from high-profit products, leveraging a large backlog of orders. As of the end of the first half of the year, Taihan had amassed a record-high order backlog of KRW 2.0055 trillion, with orders steadily coming in from regions such as the United States, Europe, and the Middle East. As the company continues to win substantial project orders during the second half of the year, Taihan is expected to sustain its strong business performance. In fact, in the third quarter alone, the company managed to secure contracts worth KRW 280 billion in the United States, raising its total order volume for the year to KRW 610 billion. Earlier this month, Taihan secured a mega-project in Singapore worth KRW 840 billion, which is equivalent to 30% of last year’s annual revenue, thereby laying the groundwork for future sales growth. 

Taihan has successfully signed a massive contract estimated at KRW 190 billion in the United StatesTaihan Cable & Solution has announced that T.E.USA, its American sales subsidiary, has successfully signed a massive long-term contract estimated at KRW 190 billion in the eastern United States. This undertaking marks the largest project ever secured by Taihan within the United States, and it stands as one of their most significant international contracts. To address the rapidly growing power demand in the eastern United States, Taihan will furnish all necessary extra high voltage power grid components, such as 138 kV and 345 kV cables and accessories, for a project aimed at upgrading old power grids to new ones. With the addition of this contract, Taihan’s new orders from the U.S. this year amount to KRW 520 billion. Therefore, the company has, within half a year, surpassed the 2022 annual order intake of KRW 400 billion, the highest since its entry into the North American market, thereby setting a new record for orders in the U.S.