Daehan Electric Wire Secures Long-Term Contract in the US... Orders Worth 720 Billion KRW This Year

"Accelerating Facility Investments for Production Localization"

Daehan Electric Wire is solidifying its market position by achieving consecutive order successes in the United States. The company plans to pursue measures to enhance competitiveness, including reviewing facility investments for local production in the U.S.

Daehan Electric Wire & Cable is laying cables in the United States. Photo by Daehan Electric Wire & Cable

Daehan Electric Wire announced on the 5th that its U.S. sales subsidiary, T.E.USA, secured a long-term cable supply project in the western region of the United States. The company will supply power cables worth 30 billion KRW annually, totaling 90 billion KRW over up to three years. It also won a cable supply project worth approximately 20 billion KRW in the eastern U.S.

The total order amount in the U.S. market this year has exceeded 720 billion KRW, marking the highest performance since Daehan Electric Wire entered the North American market. This surpasses the previous record of about 400 billion KRW in annual orders in 2022.

More than half of the underground power grid in the U.S. has passed its 40-year replacement cycle, and recent increases in demand for artificial intelligence (AI) and data centers have caused a surge in power consumption. As a result, investments in replacing aging power grids and building new power networks have been ongoing.

The cables supplied under this contract will be used to build power grids in key regions across the United States.

Daehan Electric Wire stated, "We are reviewing various measures to strengthen competitiveness, including facility investments for local production."