Taihan Cable Goes All-In on HVDC Investment... Considering New Cable Laying Vessel Investment

Building a Cluster in Dangjin, Chungnam
Expanding Investments in Submarine Cables for Proactive Response
Securing a New Cable Laying Vessel at the First and Second Factories

Taihan Cable is planning to invest in a new cable laying vessel to expand its submarine cable business. This strategy aims to proactively strengthen its construction capabilities as the submarine cable market is rapidly growing due to surging power demand and the expansion of long-distance direct current transmission.

Joo Hyungkyun, Executive Director of the Submarine Business Division at Taihan Cable, said in an interview with The Asia Business Daily on December 1, "We have invested 200 billion won in the first factory and 400 billion won in the second factory, and including both, we plan to expand to a total scale of 1 trillion won in the future." He added, "Along with this, we are also considering investing in a new cable laying vessel."

Joo Hyungkyun, Executive Director of the Submarine Business Division at Taihan Cable, introduced Taihan Cable's Dangjin cable factory in Chungnam at BIXPO 2025, a power and energy industry expo held on the 6th of last month at the Kim Daejung Convention Center in Gwangju. Taihan Cable.

Dedicated cable laying vessels for submarine cables are considered core assets in the cable industry. Large cable laying vessels are high-value equipment, costing between 300 billion and 400 billion won each, and only about 10 companies worldwide possess such vessels, making them extremely rare. Companies that secure their own cable laying vessels gain greater project execution stability and a competitive edge in contract bidding. For example, competitor LS Marine Solution currently owns three such vessels, is building one more, and is considering acquiring an additional one, thereby expanding its capacity to handle orders.

Taihan Cable's existing cable laying vessel, Palos (PALOS), is the only dedicated submarine cable vessel in Korea and has the advantage of being able to operate in shallow waters. Since March last year, it has been deployed for both internal and external network cable laying in the Yeonggwang Nakwol offshore wind power project, as well as in numerous domestic and overseas offshore wind projects. Taihan Cable plans to add additional cable laying vessels in the future to further increase its cable laying capacity.

Meanwhile, Taihan Cable was recently selected as the first company in the cable industry to become a 'supply chain stabilization leading enterprise' in the submarine cable sector, as part of a government initiative. The company was recognized for its comprehensive investments in submarine cable production and construction capabilities, which contributed to stabilizing the supply chain of the domestic offshore wind power industry.