The Taihan Cable submarine plant expansion is underway as South Korea’s second-largest cable company commits $358 million to new facilities. The move reflects rising global demand for high-voltage direct current (HVDC) cable systems.
The company announced plans to start the first stage of construction on its No. 2 submarine cable plant in Dangjin. Located about 80 kilometers south of Seoul, the facility will begin operations in 2027. This investment marks a significant step in Taihan Cable’s long-term strategy to expand its global presence.
Officials said the first-stage funding focuses on meeting increasing demand for HVDC cable systems. These systems efficiently transmit large amounts of power over long distances, offering lower losses than traditional alternating current systems.
Furthermore, the Taihan Cable submarine plant development aligns with the company’s broader plan to invest 1 trillion won in Dangjin. The second stage of funding will further expand the No. 2 plant’s capacity, supporting future growth in the renewable energy sector.
Currently, Taihan Cable operates its No. 1 submarine cable plant in Dangjin, alongside facilities for underground power cables and advanced cable solutions. This diversified production network strengthens its ability to serve global markets effectively.
However, industry experts expect the global submarine HVDC cable market to grow significantly. Forecasts predict the market size will rise from 6 trillion won in 2022 to 28 trillion won by 2029. Such growth highlights the critical role of HVDC systems in supporting renewable energy projects worldwide.
The Taihan Cable submarine plant expansion ensures the company remains competitive as demand accelerates for efficient power transmission solutions. The new plant will support large-scale offshore wind and energy transition projects across Asia, Europe, and North America.
Nevertheless, this strategic investment positions Taihan Cable as a key player in the global energy infrastructure market. It also demonstrates South Korea’s commitment to technological innovation and renewable energy development.
