대한전선

Taihan met with Saudi Arabia's Minister of Industry and Mineral ResourcesTaihan Cable & Solution met with Saudi Arabia's Minister of Industry and Mineral Resources​at a hotel in Seoul on December 15th to discuss cooperation plans, including investment in a cable factory. The meeting was organized to discuss investment and business cooperation in Saudi Arabia during the Saudi minister’s visit to Korea. The attendees shared the current status of an extra-high-voltage cable factory in Saudi Arabia that Taihan is promoting and discussed future plans in detail.  

Catalyzing Growth: Aggressive InvestmentAmid Global Power Grid UpswingTaihan raises KRW 520 Billion to "Build Submarine Cable Plant 2"- Capital to be raised through underwriting of forfeited shares following the rights offering, with the majority shareholder Hoban E&C participating in the offering- KRW 470 billion investment in Submarine Cable Plant 2 to “fully meet the demand for HVDC submarine cables”- Strengthening competitiveness by securing production bases in expanding infrastructure investment areas like the U.S. and Europe.- Positioning to be a global leader in all power grid areas, including underground and submarine. Taihan seeks to secure future growth engines amid the surging global power grid infrastructure.  Taihan Cable & Solution (CEO Song Jong-min) announced on Thursday that it has decided to undertake a rights issue by approximately KRW 520 billion to build the Submarine Cable Plant 2. The strategy involves constructing additional plants for submarine cables to target the offshore wind power market, where demand is growing due to the expansion of renewable energy. Additionally, the company aims to enhance global competitiveness by establishing production bases in regions where investment in electricity infrastructure is accelerating, such as the United States and Europe. The rights issue will will take the form of underwriting forfeited shares following the rights offering. Taihan plans to allocate approximately 0.5 new shares for each share held to existing shareholders (as of January 18) and will initiate a subscription offer for existing shareholders from February 27 to 28. An oversubscription privilege is granted within the range of 20% of the allocated shares. Hoban E&C the majority shareholder (40.1%), is set to participate in the rights issue.  □ Investment of KRW 470 billion in Submarine Cable Plant 2, "Securing the Growth Engine of HVDC Submarine Cable"Taihan is set to invest approximately KRW 470 billion in the construction of the second submarine cable plant, referred to as "Submarine Plant 2," utilizing financial resources secured through the rights offering. Following the ongoing construction of Submarine Plant 1 at the Go-dae Pier at Dangjin Port, Chungcheongnam-do, Taihan plans to expedite the construction of Plant 2 to proactively meet the expanding global demand for submarine cables. The Submarine Plant 2 will be a specialized facility capable of producing 525kV-class HVDC (High-Voltage Direct Current) submarine cables and 345kV-class export cables. The plant is expected to be completed in 2026 and operational in the first half of 2027. Featuring cutting-edge equipment, including a VCV (Vertical Continuous Vulcanizing) tower—a pivotal component for extra-high voltage cable production—the second plant will boast approximately five times the production capacity of the first submarine plant. □ "Securing Production Bases" in Regions with Expanding Infrastructure Investment, Such as the U.S. and EuropeTaihan will also invest in securing production bases in regions with active infrastructure investment. Approximately 50 billion won, raised through the rights offering, will be strategically allocated to regions including the U.S., Europe, and the Middle East.  Specifically, in the U.S., the company aim to enhance competitiveness in orders, aligning with its Buy American policy by establishing local production facilities in areas where Taihan’s orders and sales are increasing annually. In Europe, the expansion of infrastructure investment, driven by the transition to renewable energy and the construction of new power grids, will be capitalized upon as the company extends its influence through the establishment of local production bases. "As we find ourselves amidst a global super cycle, witnessing a surge in demand for renewable energy generation and power grids, we intend to capitalize on this opportunity and sustain our growth," stated an official from Taihan. "Through proactive and aggressive investments, our aim is to emerge as a global leader, showcasing unparalleled competitiveness across all power grid sectors, encompassing both underground and submarine cables." 

Groundbreaking​ Ceremony for Submarine Cable Offshore Plant in Dangjin, Chungcheongnam-do: Accelerating Offshore Wind Power ProjectsTaihan announced that on December 9, 2022, it hosted a groundbreaking​ ceremony for a submarine cable offshore plant in the Asan National Industrial Complex, located in Dangjin City, Chungcheongnam-do. Taihan's submarine cable offshore plant will be constructed on a site of approximately 44,800 m2 (11.07 acres) near the Go-dae Pier at Pyeongtaek-Dangjin Port. This location is strategically placed within a 10-minute drive from Taihan's main production facility, the Dangjin Plant, ensuring the improved efficiency of construction, operations, and management by leveraging the existing infrastructure and resources of the plant. Taihan confirmed the suitability of this site for the submarine cable offshore plant construction in February 2022 and has since then fast-tracked the land acquisition, plant design, and major equipment procurement processes, etc. Construction commenced in December 2022, with completion planned for the second half of 2023. Taihan aims to use the submarine cable offshore plant as a strategic base to capture a significant share of the rapidly expanding global offshore wind power market. 

Groundbreaking ceremony​ for Kuwait Optical Cable FactoryOn January 30, 2023 , Taihan announced that it had held an groundbreaking ceremony​ for "Taihan Kuwait," an optical cable manufacturing factory located in Kuwait on January 29, 2023. Taihan Kuwait is a joint venture between Taihan and Rank, a local construction and trading company, and is the first optical cable manufacturing entity in Kuwait. The Taihan Kuwait factory will be constructed on a 5,000 m2 (1.23 acre) site within the Mina Abdulla Industrial Area, situated in the southeastern part of Kuwait City. The factory design has been approved, and permits for initiating construction and placing major equipment orders have been secured. It is anticipated that the factory will be fully operational and generating revenue by the second half of this year. Taihan aims to capture the Kuwait optical cable market and actively respond to the increasing demand resulting from infrastructure expansion. Additionally, by leveraging its business network that has supplied cables throughout the Middle East for over 50 years, the company plans to extend its reach to neighboring GCC (Gulf Cooperation Council) countries such as Saudi Arabia and Qatar. 

Taihan meets with the Minister of Investment of Saudi Arabia to discuss the local business promotion​On the Nov. 13th, 2022, Taihan announced that it had met with Saudi Arabia's Minister of Investment Khalid A. AlFalih, who was visiting Korea, in the afternoon of the Nov. 11th, 2022 to discuss plans for investment and business expansion, etc. in Saudi Arabia. Related persons of both sides, such as Minister Alfalih, CEO of Saudi Electricity Project Development Co. Mahdi N. AlDosary, Director of Korea Office of the Ministry of Investment of Saudi Arabia Hesham AlMasaud, Hoban Group Chairman Kim Seon-kyu, President of Taihan, Na Hyung-gyun and Vice President of Taihan Kim Yun-soo, and Hoban E&C Executive Director Kim Min-seong, attended the meeting. The two sides exchanged opinions on mid- to long-term business expansion plans in Saudi Arabia, including the Saudi extra-high-voltage cable production corporation that Taihan is promoting. Earlier, on the Oct. 26th, 2022, after the two sides signed an investment agreement for a Saudi extra-high voltage cable production corporation at the ‘Future Investment Initiative (FII) Forum’ hosted by the Ministry of Investment of Saudi Arabia in Riyadh, they had a meeting to discuss the business in detail. 

South African Ambassador to Korea visits Taihan to discuss business expansion in South AfricaThe South African ambassador to Korea visited Taihan's headquarters on the Nov. 1st, 2022 to discuss ways of Taihan's expanding its business in South Africa. About 10 key officials including South African Ambassador to Korea Zenani N. Dlamini, Economic Counselor of the South African Embassy in Korea Seema Sardha, Chairman of Hoban Group Kim Seon-kyu, President of Taihan Na Hyung-gyun, and Executive Director of Hoban E&C Kim Min-seong attended the meeting. The meeting lasted about an hour and a half, and the main contents of the meeting were the facility investment plan of M-TEC, the South African production corporation of Taihan, and the opportunities and plans, etc. for Hoban Group's business expansion through it. 

Taihan discusses business cooperation with Saudi Arabia’s Aramco​On the Oct. 14th, 2022, Taihan discussed ways to cooperate with Saudi Arabia's Aramco, the world's largest oil company, at Hoban Park to reinforce its global partnership. About 20 key officials including Ahmad A. Al-Sa'adi, Senior Vice President of Aramco, Mutib A. Al-Harbi, CEO of Aramco Korea, Bandar F. Al-Otabi, Procurement Representative, Hoban Group Chairman Kim Seon-gyu, Hoban E&C Vice Chairman Song Jong-min, and Taihan President Na Hyung-gyun attended the meeting. Through this discussion, the two companies agreed to strengthen their business partnership. Taihan requested extensive support for the construction of a Saudi extra-high-voltage cable production plant, which is being promoted by Taihan, and Aramco expressed appreciation for Taihan's interest and investment in Saudi Arabia and said that it will actively cooperate on business development plans of the two companies. 

The South African production corporation M-TEC of Taihan promotes the advancement of facilities​Taihan promotes the advancement of production facilities of M-TEC, a cable production corporation located in South Africa. MV/LV is a cable that is in high demand, accounting for about 90% of South Africa's underground power market. Through this investment, M-TEC plans to update MV/LV cable production facilities. Above all, M-TEC will extend the CCV (Catenary Continuous Vulcanization) line, which performs the insulation process, and reinforce the production line that specially treats the conductor surface. This investment will be completed by 2023. M-TEC expects to secure production efficiency three times or more compared to the previous production efficiency, and enhance product and price competitive edge by extending the core facilities for MV/LV cables. 

Construction for the extra-high-voltage cable factory in Saudi ArabiaTaihan appears ready to step up its local investment plan in Saudi Arabia. On the 15th, the company signed a new contract at Hoban Park Building #2 (Umyeon-dong, Seocho-gu) on creating a joint venture (JV) tasked with building an extra-high voltage cable production plant in Saudi Arabia. Taihan’s joint investor for the project is the Mohammed Al-Ojaimi Group, an EPC specializing in the transmission and distribution of electricity across Saudi Arabia. Taihan is set to invest 51% of the USD 80 million in total investments (approx. KRW 100 billion) for this new project. The factory will be built on a site stretching across 70,000m2 in a high-tech industrial complex located in Riyadh, the nation’s capital. Once the factory is complete, Taihan will begin the local production of extra-high-voltage cables and power equipment required in extra-high-voltage power grids, and this, in turn, will have a positive impact in helping the company secure the technology and competitive pricing it needs to grow its business in the Middle East, Europe, and Africa. 

Taihan and Hoban Construction create a “Second Venture Investment Association”Taihan formed another venture investment association with Hoban Construction to help discover and incubate innovative technology startups, and also to strengthen their investment. “Plan H,” an accelerator under the Hoban Group, will take the lead in managing this venture investment association. By participating in this venture investment association, Taihan plans to discover and invest in startups related to new and renewable energy and the environment in line with its “Green 2030” initiative, the company’s mid- to long-term environmental management strategy. Going forward, the company will continue to discover and invest in promising startups in the new renewable energy and ESG fields, and at the same time create synergy by working closely with Hoban Construction across a variety of fields.