<기사제목>Daehan Electric Wire Chooses Dangjin, Chungnam as Site for 2nd Submarine Cable Factory

1 Trillion Investment by 2027
Construction of Submarine Plant 2 in Dangjin Gode District
Chungnam Province and Dangjin City Promise Administrative and Financial Support
"Responsible for a Key Role in Global Submarine Cable Supply"

Daehan Electric Wire & Cable has decided to build its second submarine cable factory in Dangjin City, Chungcheongnam-do.

Representatives from Korea Electric Wire Corporation, Chungcheongnam-do, and Dangjin City are signing an investment agreement and taking a commemorative photo. From the left: Oh Seong-hwan, Mayor of Dangjin; Kim Tae-heum, Governor of Chungnam Province; Kim Seon-gyu, Chairman of Hoban Group; Song Jong-min, Vice Chairman of Korea Electric Wire Corporation. Photo by Korea Electric Wire Corporation

On the 18th, Daehan Electric Wire & Cable signed an investment agreement (MOU) for the construction of the second submarine cable factory with Chungcheongnam-do, Dangjin City, and Hoban Group at the Chungcheongnam-do provincial office.

Accordingly, Daehan Electric Wire & Cable will proceed with the construction of the second submarine cable factory in the Gode District of Asan National Industrial Complex in Dangjin City, Chungnam. Dangjin, Chungnam is the region where all of Daehan Electric Wire & Cable’s domestic production facilities, including the cable factory and the first submarine cable factory, are concentrated. Since it has the advantage of utilizing the human and material infrastructure of existing factories, Daehan Electric Wire & Cable has selected this location as the top candidate from the early stages of site selection.

Daehan Electric Wire & Cable plans to invest about 1 trillion KRW and complete the second submarine cable factory by 2027. To respond to the global expansion of submarine cable demand, the factory will be equipped with state-of-the-art facilities such as a Vertical Continuous Vulcanization (VCV) tower to produce 620kV-class High Voltage Direct Current (HVDC) cables and external network submarine cables.

In addition, the company will prioritize hiring excellent local talent and promote the consumption of locally produced agricultural, fishery, and livestock products to help revitalize the regional economy. It will also take the lead in creating a family-friendly corporate culture for the sustainable development of the local community.

Chungcheongnam-do and Dangjin City promised to do their best to provide administrative and financial support within the scope permitted by relevant laws and regulations to ensure the smooth progress of Daehan Electric Wire & Cable’s planned project. Hoban Group also pledged to actively support the sustainable growth of Daehan Electric Wire & Cable’s offshore wind power business.

Kim Tae-heum, Governor of Chungnam Province, who attended the agreement ceremony, emphasized, "Through this investment, Daehan Electric Wire & Cable will secure leadership in the global submarine cable market, contribute to strengthening national competitiveness and energy security, and elevate South Korea’s status." He added, "Chungnam Province and Dangjin City will work together to help Daehan Electric Wire & Cable grow bigger and stronger in Chungnam."

Song Jong-min, Vice Chairman of Daehan Electric Wire & Cable, stated, "Dangjin, Chungnam is the optimal location where Daehan Electric Wire & Cable’s domestic production infrastructure is concentrated and serves as a logistics and transportation hub, enabling supply of submarine cables to domestic and international markets." He added, "We will quickly establish the second submarine cable factory and contribute to Dangjin City’s emergence as a core region of the domestic submarine cable industry."

Meanwhile, Daehan Electric Wire & Cable is currently operating its main production facilities in Dangjin City, including the cable factory, the solution factory producing power equipment, and the first submarine cable factory, which completed its first phase in May. The second phase of the first submarine cable factory is scheduled to be completed in the first half of 2025.