Cooperation in Eco-friendly Energy Fields such as Offshore Wind Power and Solar Power
Collaboration on Localization of Key Materials like HVDC and Submarine Cables
Daehan Electric Wire announced on the 27th that it signed a memorandum of understanding (MOU) with Hanwha Solutions at the Hanwha Building in Jung-gu, Seoul, to jointly promote the 'Global TOP Project.'
The signing ceremony was attended by Song Jong-min, Vice Chairman of Daehan Electric Wire, Nam Yi-hyun, Head of Hanwha Solutions Chemical Division, and executives and employees from both companies.
This MOU was pursued with the goal of establishing a strategic partnership to secure future growth engines. Both companies promised mutual cooperation in various areas such as product development and commercialization, certification acquisition, and expansion of sales networks. To this end, they plan to actively support their core competencies and technologies.
Daehan Electric Wire and Hanwha Solutions signed an MOU at the Hanwha Building on the 26th. From the left, Jongmin Song, Vice Chairman and CEO of Daehan Electric Wire, and Ihyun Nam, CEO of Hanwha Solutions Chemical Division. [Photo by Daehan Electric Wire]
First, the two companies will jointly develop and pursue certification for key materials used in HVDC (High Voltage Direct Current) and submarine cables, as well as XLPE (cross-linked polyethylene) insulation materials used in ultra-high voltage cables. Through this, they plan to realize material localization and technological independence while enhancing the competitiveness of Daehan Electric Wire's cable products. Daehan Electric Wire has developed the 500kV current-type HVDC land cable and the 525kV voltage-type HVDC land cable with a 90℃ allowable temperature, both designated as national core technologies, for the first time in Korea, and is pursuing orders in domestic and international markets.
Cooperation will also be strengthened in the eco-friendly energy business. Through strategic alliances in the offshore wind and solar energy sectors, they plan to maintain close business and information exchanges and seek business opportunities.
Additionally, they plan to pool efforts to enhance business competitiveness by actively promoting the expanded application of both companies' products and systems and global joint marketing to pioneer new markets.
Vice Chairman Song Jong-min said, "We expect that establishing a mutual cooperative relationship with Hanwha Solutions will improve competitiveness across all business areas," adding, "In the rapidly changing global market, we will expand cooperation fields based on the technological capabilities of both companies to enhance national competitiveness and increase corporate value, extending collaboration to the group level in the future."
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