Taihan Cable & Solution (Taihan Cable) announced that it has signed an agreement with KG Steel at Hoban Park in Seocho-gu, Seoul, South Korea, that will provide Taihan Cable with the land it need to build a second submarine cable factory.

Per an on-line report in Korea IT Times, a signing ceremony was held that included Vice Chairman Song Jong-min and President Park Sung-hee of Taihan Cable. They were with management from the parent companies, including Kim Dae-heon, planning president of Hoban Group, and Kwak Jeong-hyun, strategy president of KG Group. The event emphasized both groups’ commitment to strengthening business cooperation and establishing a forward-looking collaboration model. “Through the purchase of convertible bonds, KG Steel will receive 110 billion won (approximately $78.5 million) for the land, reflecting its high valuation of Taihan Cable’s potential growth in the submarine cable sector and the belief that their collaboration will generate future value.”

The acquired site, approximately 215,000 sq m, is located in the Godeok District, Asan National Industrial Complex in Dangjin, South Chungcheong Province. It is adjacent to Taihan Cable’s existing first submarine cable factory. This area forms Korea’s largest cable production cluster, close to Taihan Cable’s major production facilities—the Dangjin Cable and Solution Factories. Taihan Cable plans to produce submarine cables, underground cables, and power and communication-related products in this integrated location, maximizing synergy effects.

The new factory will include a VCV tower for producing 620kV class HVDC submarine cables and external network submarine cables. “Furthermore, both companies intend to bolster their collaboration in the North American market, leveraging their years of experience and expertise to explore opportunities for increased exports to the U.S. and joint business ventures.”

Taihan Cable & Solution (Taihan) has secured a landmark contract in Singapore, further solidifying its position as a global leader in the high-voltage power grid sector.

Per reports in Korea IT TIMES and BusinessKorea, Taihan announced on Oct. 4 that it had signed two contracts with Singapore’s SP PowerAssets Limited for the supply and installation of 400 kV high-voltage power grids.

The NDC373 project, one of the two contracts, is valued at around $360 million, making it the largest high-voltage AC transmission network export in South Korea’s history. This project involves constructing a 400 kV high-voltage underground power grid, the highest voltage used locally, across Singapore. Taihan will execute the project in a full turn-key manner, handling everything from power grid design and production to laying, connection and testing.

“We will continue to contribute to enhancing national competitiveness by widely promoting the excellence of Korean cable technology and products in key markets such as the United States, Europe, and Asia,” said Taihan Vice Chairman Song Jong-min. “Taihan’s success in securing this contract amidst competition from leading global companies underscores its robust capabilities and reputation in the industry.”

Taihan’s track record in Singapore includes previously 400 kV projects in 2016 and 2022. It noted that Taihan is “the only domestic company to participate in all 400kV full turn-key projects conducted in Singapore.”

Taihan Cable & Solution Co. (Taihan Cable) held a completion ceremony on Sept. 9 at its new optical fiber plant, Taihan Kuwait, located in the Mina Abdullah Industrial Area, southeast of Kuwait City.

Per a report in Yonhap, the factory spans 5,000 sq m, with production facilities and testing equipment identical to those at Taihan’s Dangjin cable factory. The Kuwait plant will help Taihan Cable expand into the Middle East market. The project was done through a partnership with a local builder, Rank General Trading and Contracting Co.

Taihan Kuwait was scheduled to start full-scale production of certified production in September. With the addition of the Kuwaiti plant, Taihan Cable has seven production facilities, the others include three in South Korea, one in Saudi Arabia, one in South Africa and one in Vietnam. The ceremony included speeches, a report on the establishment of the corporation and a tour of the factory.

The article said that Taihan Cable aims to dominate the Kuwaiti optical cable market, which has relied entirely on imports. Demand for optical cables is expected to rapidly grow in line with the launch of “New Kuwait 2035,” a mid-to-long-term national development plan. “Taihan plans to secure the Kuwaiti market and expand into neighboring GCC countries, such as Saudi Arabia and Qatar, leveraging its network which has been supplying cables throughout the Middle East for over 50 years.”

“Establishing production infrastructure in Kuwait, following our Dangjin cable factory, will allow us to respond actively to the growing global demand for optical fiber cables,” said Taihan Cable Vice Chairman Song Jong Min. “We will continue to enhance national competitiveness by expanding global operations through continuous localization of production.”

Taihan Cable & Solution has been selected as the cable supplier for a 320kV Voltage Source Converter (VSC)--VDC and 500kV HVAC power grid project in the U.S.

A press release said that the contract from LS Power Grid California, LLC, includes multiple cable orders worth approximately $68 million, to improve the reliability of the power grid in Northern California, including regions such as Silicon Valley and San Jose. It noted that the area has seen a surge in electricity demand due to the recent expansion of AI- related businesses and other advanced IT companies.

The contract marks Taihan’s official entry into the U.S. HVDC market. The company’s VSC technology allows for easier bidirectional power transmission and simpler converter station installation compared to Line Commutated Converter (LCC) HVDC technology. It can also be applied to renewable energy generation, such as wind and solar power. VSC-HVDC is increasingly used, and only a handful of companies worldwide have successfully commercialized this technology.

Taihan previously developed South Korea’s first 525kV VSC-HVDC cable system, which has a 3,000-sq-mm cross-sectional area and a maximum operating temperature of 90°C. “With this latest contract, Taihan is poised to actively pursue further HVDC projects both domestically and internationally.”

Taihan was the first company in South Korea to develop and commercialize this technology, and it has successfully secured and executed all 500kV HVAC projects conducted in North America. “With this latest win, Taihan has achieved the remarkable accomplishment of carrying out all 500kV projects conducted in the U.S.”

Anticipating the increased demand for replacing aging power grids in the U.S., Taihan has focused its efforts on the U.S. market since 2017. “This strategic focus has yielded continuous success, with the company recording approximately $455 million in new orders this year alone, achieving record-breaking results.”

South Korea’s Taihan Cable & Solution (TC&S) announced that on July 24, they held a launching ceremony for the 6,200-ton submarine cable laying vessel “Palos” at the Godeok Pier in the Asan National Industrial Complex, Dangjin, Chungcheongnam-do, where their submarine cable factory is located.

Per a report in KoreaITtimes.com, the Palos is the only offshore wind power CLV (Cable Laying Vessel) in the country and can load up to 4,400 tons of submarine cable at once. Attendees at the event included representatives from the Ministry of Trade, Industry, and Energy, Korea Electric Power Corporation, Korea Wind Energy Industry Association, as well as various power companies, clients, and partner companies also attended.

Palos is a CLV designed and built specifically for submarine cable laying from the start, offering superior performance compared to CLBs (Cable Laying Barges) that are repurposed cargo barges. Unlike general vessels, Palos has a flat bottom, allowing it to be deployed to various sites regardless of water depth. It is equipped with advanced features such as the Dynamic Positioning System (DP2), which ensures precise vessel positioning. It can travel at a speed of up to 9 knots, enabling it to manage submarine cable laying much more accurately and stably compared to CLBs, which are towed by tugboats and cannot respond as effectively to weather changes and tides.

“Today’s launching ceremony marks South Korea’s rise to one of the few countries globally equipped with a CLV, with only about 30 such vessels existing worldwide,” said CT&S Vice Chairman Song Jong-min. “Palos will ... serve as a critical strategic asset that protects Korea’s offshore wind power market from overseas influences.”

In other news, TC&S said the company has won a new U.S. power grid EHV cable order worth $137 million. The company will supply the cables to an unnamed customer for an underground project in the eastern part of the U.S.

TC&S noted that its net profit for 2023 (71.87 billion won) was triple that of the prior year (21.83 billion won), and that the company’s order backlog is now 1.94 trillion won as of the end of the first quarter.

South Korea’s Taihan Cable & Solution announced that it plans to set up a specialized test facility for HVDC (High Voltage Direct Current) cable at one of its main production sites in Dangjin.

A press release said that the dedicated test facility will be built on approximately 7,000 sq m of unused land at the Dangjin plant, which is one of Taihan’s main production sites. The construction aims to be completed within the first quarter of next year. Taihan plans to equip the facility to be able to simultaneously test two lines of HVDC cables, including both land and submarine cables. Specifically, the facility will be capable of conducting long-term reliability tests (PQ Test), which can take more than a year, and Temporary Over Voltage (TOV) tests, recently adopted as a mandatory test item for international HVDC cables. This will complete the infrastructure needed to perform internationally recognized certifications.

In other news, Taihan Cable & Solution reported on Feb. 22 that it had won a project for a 500 kV EHV power project from the Electric Power Systems Engineering Company, a joint venture of the Egyptian government. The project involves linking an existing substation and a new HVDC converter station in the Badr region, located in the northeast of Egypt, with underground power cables. Taihan will supply 500 kV HVAC cables and oversee the project management.

“With this order, Taihan has made its first entry into the Egyptian EHV market,” the release said. It noted that 500kV is the highest voltage used in Egypt. “Taihan succeeded in pioneering the market, breaking through the competition not only with local companies but also with leading global companies.”

South Korea’s Taihan Cable & Solution Co. reports that it has been awarded a project worth more than $80 million for replacement of an outdated power grid in the U.S.

Per a press release and multiple media reports, including The Korea Economic Daily, the project is designed to replace the aging power infrastructure with a new one in the southeastern state of Florida in anticipation of increasing power demand in the region. Taihan will be removing existing cables and supplying a 230 kV EHV power grid as a full turnkey service.

The press release said that winning the bid was helped by having a proven track record in executing projects in the U.S. Its proposal for the replacement of aging power grids was instrumental in moving the project forward. For the New York project secured last year, a unique installation method with a U.S. patent was introduced to showcase laying technology tailored to the urban environment.

By securing this deal, the company has brought its cumulative order value for the year to more than US$145 billion in the U.S. alone. “In just one quarter, Taihan has already achieved half of its record annual orders in the U.S. from fiscal year 2022 of nearly $290 million. While rising electricity consumption and the expansion of renewable energy sources are driving an increase in the demand for power networks across the U.S., over 50% of the existing transmission infrastructure has surpassed 40 years of service, exceeding its life cycle, giving rise to strong anticipation of additional orders to follow.

Taihan Cable & Solution (Taihan) reported winning a contract from Germany’s TenneT and another for the Yeonggwang Nakwol offshore wind farm in South Korea.

A press release said that Taihan won a contract from Germany’s TenneT to supply it EHV power cable in a deal worth about US$45 million. The project calls for 380kV underground cables that will be used to expand the transmission network for power generation. Taihan will supply the EHV cables and cable accessories, and be responsible for the power network design, cable laying, connection and testing. Taihan previously won two projects in Germany’s HV cable market worth US$52.4 million.

Taihan also reported that it has won a contract worth approximately $75 million to supply subsea cables for the 365 MW Yeonggwang Nakwol offshore wind farm in South Korea. Per multiple media reports, the order is for inter-array subsea cables that will connect 64 offshore wind turbines installed at the wind farm, and the cables connecting them with a new substation on Songi Island.

The cables will be made at Taihan’s Dangjin plant. Last October, the company was a preferred subsea cables supplier for the 532 MW Anma offshore wind project.

“With the Yeonggwang Nakwol project, we will contribute to the stabilization of the subsea cable supply chain by actively participating in various offshore wind power projects being advanced in Korea, and increase export competitiveness by using it as a stepping stone for expansion into the growing offshore wind power market in Europe and the United States,” Taihan said.