South Korean cable manufacturer Taihan Cable & Solution said Wednesday that it will invest 497.2 billion won ($358.1 million) to build a second high-voltage direct current submarine cable plant in Dangjin, South Chungcheong Province, aiming to bolster its competitiveness in the global energy infrastructure market.
Construction will begin on the new facility — referred to as Dangjin Submarine Cable Plant 2 — this year, and it is scheduled to be operational by December 2027.
It will produce 640 kilovolts HVDC and 400 kilovolts HVAC submarine cables using cutting-edge Vertical Continuous Vulcanization systems. The plant will be located adjacent to the company’s first submarine cable plant, covering 215,000 square meters.
Once operational, the second plant will have five times the production capacity of the first plant, enabling Taihan to meet demand and also allowing all infrastructure to be concentrated in Dangjin.
This investment is a response to the rapidly growing demand for submarine cables. The market is projected to grow from 6 trillion won in 2022 to 28 trillion won by 2029, with HVDC demand accelerating due to energy transition initiatives.
“This investment positions us to lead the global submarine cable market through turn-key capabilities, from design and production to installation and maintenance,” said Vice Chairman Song Jong-min.
hyelimchung@heraldcorp.com
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