South Korean cable manufacturer Taihan Cable & Solution announced Wednesday its plans to invest 497.2 billion KRW ($358.1 million) in a second high-voltage direct current (HVDC) submarine cable plant in Dangjin, South Chungcheong Province. This strategic move aims to bolster the company’s position in the competitive global energy infrastructure market.
The new facility, dubbed Dangjin Submarine Cable Plant 2, will break ground this year and is slated for completion by December 2027.
Utilizing cutting-edge Vertical Continuous Vulcanization systems, the plant will produce 640 kilovolt HVDC and 400 kilovolt HVAC submarine cables. The 215,000-square-meter facility will be situated adjacent to Taihan’s existing submarine cable plant.
Upon completion, the second plant will boast five times the production capacity of its predecessor. This expansion will not only meet growing demand but also consolidate Taihan’s infrastructure in Dangjin.
The investment comes in response to the booming submarine cable market, which is projected to surge from 6 trillion KRW (4.5 billion USD) in 2022 to a staggering 28 trillion KRW (21 billion USD) by 2029. This growth is largely driven by increasing HVDC demand, fueled by global energy transition initiatives.
“This strategic investment positions us to lead the global submarine cable market,” said Vice Chairman Song Jong-min. “Our turn-key capabilities now span the entire process, from design and production to installation and maintenance.”
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