South Korea's Taihan to invest $360m in new submarine cable plant

South Korean cable manufacturer Taihan announced on July 16 that its board has approved an investment of approximately KRW497.2 billion ($360 million) for the first phase of construction of a new submarine cable plant.

The new facility will be built in Dangjin and will be capable of producing 640kV-class high voltage direct current (HVDC) and 400kV-class high voltage alternating current (HVAC) cables. Groundbreaking is planned within the year, with the first phase targeted to begin operation in 2027.

The company stated the investment is to meet rising global demand for submarine cables, driven by the growth of the offshore wind market and the development of a new "energy highway" in Korea. The new plant will be equipped with a vertical continuous vulcanization (VCV) system and is expected to have a production capacity nearly five times greater than the company's existing plant 1.

Vice Chairman Song Jong-min stated that the new plant will position the company to actively participate in Korea's "west coast energy highway" project. To manage the full submarine cable value chain, the company has also previously secured South Korea’s only cable laying vessel (CLV), the Palos.