Latest news with #TaihanCable&Solution
Korea Herald
5 days ago
- Business
- Korea Herald
Taihan to build Vietnam's first ultra-high-voltage cable plant
Korean cable manufacturer Taihan Cable & Solution announced Wednesday that it will build its first overseas facility for ultra-high-voltage electric cable in Vietnam, betting on the country's rapidly growing electricity demand. The company will invest 75 billion won ($54.2 million) to expand the existing facility of its Vietnamese subsidiary, Taihan Vina, in Dong Nai province, southern Vietnam. The expansion, set for completion in 2027, will make it Vietnam's first facility to produce cables exceeding 400 kilovolts. According to the Vietnamese government, the nation's power demand is expected to grow by 10 to 12 percent annually through 2030, driven by increasing investment from global manufacturers and large-scale infrastructure projects. With the expanded local capacity, Taihan aims to boost its competitiveness in local power grid bids by cutting manufacturing and delivery costs compared to production in Korea. Beyond serving the local market, the company plans to turn the Vietnamese facility into a key export hub for Europe, North America and Oceania, leveraging Vietnam's central position on global shipping routes and its 17 active free trade agreements. 'Vietnam's favorable industrial environment, infrastructure and geographical advantages will provide a strong foundation for Taihan Vina to establish itself as a major global supplier in the ultra-high-voltage cable sector," said a Taihan official. "With this plant investment, Taihan Vina will lead the improvement of Vietnam's power grid while expanding its footprint from Asia to markets worldwide.'
Korea Herald
16-07-2025
- Business
- Korea Herald
Taihan Cable & Solution invests W497m in Dangjin new plant
South Korean cable manufacturer Taihan Cable & Solution said Wednesday that it will invest 497.2 billion won ($358.1 million) to build a second high-voltage direct current submarine cable plant in Dangjin, South Chungcheong Province, aiming to bolster its competitiveness in the global energy infrastructure market. Construction will begin on the new facility — referred to as Dangjin Submarine Cable Plant 2 — this year, and it is scheduled to be operational by December 2027. It will produce 640 kilovolts HVDC and 400 kilovolts HVAC submarine cables using cutting-edge Vertical Continuous Vulcanization systems. The plant will be located adjacent to the company's first submarine cable plant, covering 215,000 square meters. Once operational, the second plant will have five times the production capacity of the first plant, enabling Taihan to meet demand and also allowing all infrastructure to be concentrated in Dangjin. This investment is a response to the rapidly growing demand for submarine cables. The market is projected to grow from 6 trillion won in 2022 to 28 trillion won by 2029, with HVDC demand accelerating due to energy transition initiatives. 'This investment positions us to lead the global submarine cable market through turn-key capabilities, from design and production to installation and maintenance,' said Vice Chairman Song Jong-min.
Korea Herald
18-06-2025
- Business
- Korea Herald
Taihan partners with Ireland's SuperNode for next-gen superconducting cables
South Korean electric wire and cable maker Taihan Cable & Solution said Wednesday it has signed a memorandum of understanding with Irish firm SuperNode to jointly develop next-generation superconducting cable technology. The signing ceremony was held on Tuesday in London, with key executives from both companies in attendance. Dublin-based SuperNode is known for its advanced cable design that improves efficiency and ease of installation over existing superconducting solutions. Superconducting cables use materials with zero electrical resistance at very low temperatures, offering higher transmission efficiency than conventional copper or aluminum cables. The strategic partnership aims to enhance the competitiveness of both companies in the high-capacity cable market. Taihan and SuperNode will collaborate across design, manufacturing and materials to accelerate the development and production of next-generation superconducting cables. The agreement also opens the door to joint participation in global energy infrastructure projects. 'We are excited to move toward large-scale production of next-generation superconducting cables with Taihan's over 80 years of manufacturing expertise," said SuperNode CEO John Fitzgerald. "This collaboration will position us as leaders in the growing superconducting cable industry," added Taihan Cable & Solution Vice Chairman Song Jong-min.
Korea Herald
16-06-2025
- Business
- Korea Herald
Taihan Cable joins UK's Global Offshore Wind 2025 to showcase submarine cable solutions
South Korean undersea cablemaker Taihan Cable & Solution on Monday announced its participation in Global Offshore Wind 2025, the UK's largest offshore wind energy exhibition held in London this week. Organized by RenewableUK, the event brings together industry leaders and innovators to exchange insights on emerging technologies and market trends. Taihan will present its offshore wind power solutions, high-voltage direct current submarine cable systems and a model of its cable-laying vessel, Palos. The company plans to highlight its submarine cable turnkey capabilities across the entire value chain, from design and production to installation and maintenance. It will also showcase its role in the Yeonggwang Nakwol offshore wind power project in Korea, where it supplies submarine cables and deploys Palos for installation. The first phase was completed in May, with additional work scheduled for June and July. Taihan will further introduce its expanded production facilities in Dangjin, South Chungcheong Province. Its first submarine cable plant is set for full operation this month, while a second facility is expected to launch in 2027. Vice Chairman Song Jong-min will attend the event to engage with global clients and partners. 'GOW 2025 is a key opportunity to show our total offshore wind capabilities,' he said, emphasizing the company's goal of sustainable growth in the global energy sector. Taihan is steadily expanding its production and installation capabilities, with its first submarine plant producing up to 320-kilovolt HVDC cables and a second 640kV-capable facility set to launch in 2027, targeting large-scale offshore wind projects and future initiatives on the west coast.
Korea Herald
14-03-2025
- Business
- Korea Herald
Taihan Cable eyes $27.5b opportunity in National Grid's HVDC projects
South Korean wire and cable maker Taihan Cable & Solution said Friday that it has signed a framework agreement with National Grid to supply high-voltage direct current cable systems for the UK company's power grid project. To secure a stable supply chain in the HVDC market ahead of anticipated shortages, National Grid has signed the agreement for both cable systems and transformers. The total project volume is estimated at 59 billion pounds ($76.2 billion), with more than 15 submarine and underground HVDC projects planned over the next eight years. As part of the agreement, Taihan has secured an opportunity to join projects worth about 21.3 billion pounds. Starting this year, the company will be eligible to bid for 525 kilovolt and 320kV cable system projects. 'This agreement is highly meaningful as it recognizes the technological competitiveness of Taihan's HVDC cable systems in the advanced European power market,' said Vice Chairman Song Jong-min. 'We will continue to enhance the quality reliability and technical capabilities of our HVDC cable systems, further expanding our business opportunities not only in Europe but also in global markets.'
