Dangjin Submarine Cable Plant 2 to Begin Construction Aiming for 2027 Operation
Building Facilities Including VCV Tower to Meet Global Demand
Daehan Electric Wire is pushing forward with a large-scale investment to strengthen its competitiveness in high-voltage direct current (HVDC) submarine cables and secure future growth engines. The company plans to invest approximately 900 billion KRW solely in the construction of Dangjin Submarine Cable Plants 1 and 2, with an initial 497.2 billion KRW allocated to the first phase of Plant 2.
On July 16, Daehan Electric Wire announced that its board of directors had resolved to invest 497.2 billion KRW in the first phase construction of Dangjin Submarine Cable Plant 2, which will be capable of producing HVDC submarine cables. This investment aims to expand production infrastructure in response to increasing domestic and international demand for submarine cables, the expansion of the offshore wind power market, and participation in the 'West Coast Energy Expressway' project. The investment period is set until December 2027.
Daehan Electric Wire plans to begin construction of Submarine Cable Plant 2 within this year. The first phase of Plant 2 will be a dedicated facility capable of producing 640kV-class HVDC and 400kV-class high-voltage alternating current (HVAC) submarine cables, and will be equipped with state-of-the-art systems such as the vertical continuous vulcanization (VCV) system, a core facility for high-voltage cable production.
The company aims to begin operations of the first phase plant in 2027, and plans to strategically pursue a second phase investment to further expand production capacity, taking into account future market conditions.
The site for Submarine Cable Plant 2 is located adjacent to Plant 1 in the Gode Industrial District of the Asan National Industrial Complex in Dangjin, South Chungcheong Province, and covers an area of approximately 215,000 square meters?equivalent to the size of 30 soccer fields. Once operational, Plant 2 is expected to secure a production capacity about five times greater than Plant 1. At the same time, all of Daehan Electric Wire’s production infrastructure?including the existing cable and solution plants as well as Submarine Cable Plants 1 and 2?will be concentrated in Dangjin, creating significant synergy effects.
Song Jongmin, Vice Chairman and CEO of Daehan Electric Wire, stated, “By pushing forward with the construction of Submarine Cable Plant 2, we are not only responding to the growing demand for HVDC submarine cables, but also preparing to participate in the full-scale 'West Coast Energy Expressway' project.” He added, “By securing turnkey competitiveness in submarine cables, we will lead the global submarine cable market, contribute to strengthening national competitiveness, and enhance energy security.”
Daehan Electric Wire is gradually securing production capabilities in response to the expanding demand for submarine cables. The company has acquired PALOS, the only cable laying vessel (CLV) in Korea, enabling it to handle the entire value chain?from design, production, and transportation to installation and maintenance. As only a handful of companies worldwide possess turnkey competitiveness, Daehan Electric Wire is expected to secure a variety of opportunities in the global market.
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