A domestically produced self-propelled laying vessel, essential equipment for the installation of submarine cables in offshore wind power complexes, held its commissioning ceremony on the 24th at the Godae District of Asan National Industrial Complex and officially began operations.
The Ministry of Trade, Industry and Energy announced that on this day, Lee Ho-hyun, Director of the Energy Policy Office, attended the commissioning ceremony of the self-propelled laying vessel 'PALOS' operated by Korea Electric Wire Co., Ltd.
A self-propelled laying vessel is a ship equipped with the ability to move independently. Existing domestic submarine cable laying vessels were in the form of barges and required tugboats to move. Compared to barge-type laying vessels, self-propelled laying vessels operate about four times faster. They can install 13 km of submarine cable per day, which is expected to contribute to the expansion of offshore wind power supply and the construction of submarine transmission lines.
The Ministry of Trade, Industry and Energy stated, "As the global expansion of offshore wind power continues, the submarine cable market is growing, and it is expected to play a significant role in the overseas advancement of the domestic power industry." According to CRU, a UK-based raw materials market research firm, the submarine cable market is projected to grow from $4.9 billion (approximately 6.8 trillion KRW) in 2022 to $21.7 billion (approximately 30 trillion KRW) by 2029.
At the commissioning ceremony, Director Lee Ho-hyun said, "To secure the submarine cable market for our industry, a comprehensive strategy encompassing the offshore wind power industry, cable industry, and shipbuilding industry is necessary, covering cable development, manufacturing, installation, and the construction and operation of laying vessels." He added, "We will also provide opportunities for our companies to build track records through the smooth promotion of the West Coast High Voltage Direct Current (HVDC) transmission project."
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