Under the agreement, Taihan Cable & Solution will construct its second submarine cable plant in Dangjin City, South Chungcheong Province, South Korea. The company plans to invest USD 718.03 million to complete the second plant by 2027. The plant will produce 620 kV high-voltage direct current (HVDC) cables and external network submarine cables.
Nov 19, 2024
Taihan Cable & Solution has signed a memorandum of understanding (MOU) with South Chungcheong Province and Dangjin City to build a second submarine cable plant. The signing ceremony took place at the South Chungcheong Provincial Office.
Under the agreement, Taihan Cable & Solution will construct its second submarine cable plant in the Godae District of the Asan National Industrial Complex in Dangjin City, South Chungcheong Province in South Korea.
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The company plans to invest USD 718.03 million to complete the second plant by 2027. To meet the growing global demand for submarine cables, the plant will produce 620 kV high-voltage direct current (HVDC) cables and external network submarine cables. It will also feature state-of-the-art equipment such as a vertical continuous vulcanization (VCV) tower.
Song Jong-min, Vice Chairman, Taihan Cable & Solution, said, “Dangjin is not only home to Taihan Cable & Solution’s domestic production infrastructure but also a central hub for logistics and transportation, making it the ideal location to supply submarine cables to both domestic and international markets. We will swiftly establish the second submarine cable plant, helping Dangjin emerge as the core region for South Korea’s submarine cable industry.”
Kim Tae-heum, Governor of South Chungcheong Province, said, “Through this investment, Taihan Cable & Solution will secure a leading position in the global submarine cable market, enhance national competitiveness, and contribute to energy security, raising South Korea’s stature. South Chungcheong Province and Dangjin City will work together to support Taihan Cable & Solution’s growth and success in South Chungcheong Province.”
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Earlier, Taihan Cable & Solution completed the first phase of its first submarine cable plant in May 2024. The second phase of the first submarine cable plant is slated for completion in the first half of 2025.
