The Largest Project Ordered in the US
This Year Alone, Orders Worth 520 Billion Won in the US
Daehan Electric Wire announced on the 25th that its U.S. sales subsidiary, T.E.USA, has signed a long-term contract worth 190 billion KRW in the eastern United States. This is the largest project Daehan Electric Wire has secured in the U.S. to date.
Including this order, Daehan Electric Wire has achieved approximately 520 billion KRW in new orders in the U.S. alone this year. This surpasses the annual cumulative order amount of 400 billion KRW in 2022, which was the highest performance since entering the North American market, in just half a year, setting a new record. Previously, at the end of last year, Daehan Electric Wire secured a project in New York, showcasing products specialized for aging power grid replacement and patented new technologies. In March, it also achieved success by winning a turnkey project worth about 110 billion KRW for aging power grid replacement in the Florida area.
With this project order, Daehan Electric Wire will supply all ultra-high voltage power grid materials, including 138 kV (kilovolt) and 345 kV cables and connectors, for a project replacing aging power grids with new ones in the eastern United States. More than 50% of the underground power grid in the U.S. has exceeded the replacement period of 40 years, and with recent advances in artificial intelligence (AI) leading to a sharp increase in power consumption, the need for replacement is growing. Daehan Electric Wire stated, "Having established itself as a major supplier in the North American power market over several years, we will maximize exports to contribute to strengthening national competitiveness."
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