Taihan Electric Wire’s unstoppable run changes the landscape of the European submarine cable market. > News

Through this forum, Taihan Electric Wire was able to sign a memorandum of understanding (MOU) with global maritime infrastructure giants Jan De Nul of Belgium and Boskalis of the Netherlands. These are not just construction companies, but ‘top tier’ companies with world-class technology and extensive project implementation experience in the offshore wind power and submarine cable installation fields. Taihan Electric Wire is the only domestic company to enter into this agreement and has established a practical bridgehead for entering the European market. This partnership is significant in that it is a complementary model that combines Taihan Electric Wire's cable manufacturing and total solution capabilities with the partner's marine infrastructure expertise. As a result, Taihan Electric Wire has established a strong network that can play a leading role in the power grid infrastructure expansion project in Europe.

HVDC (High Voltage Direct Current Transmission) technology, the core of this agreement, is currently called a ‘game changer’ in the global power market. It is considered an essential element of the next-generation power grid because it has significantly lower transmission losses than existing AC methods and enables long-distance, high-capacity power transmission. The global HVDC market is expected to grow rapidly to approximately $26.4 billion by 2034, and this market expansion is an excellent opportunity for Taihan Electric Wire. Taihan Electric Wire is sparing no effort in investing in hardware, including building a second factory capable of producing 640kV HVDC cables in Dangjin, South Chungcheong Province. In addition, we have fully internalized turnkey performance capabilities that span from manufacturing to transportation and construction, including securing an additional 10,000-ton laying vessel 'Scandi Connector'.

The stock market and investment industry are also reacting immediately to Taihan Electric Wire's actions. Recently, Taihan Electric Wire's stock price has been on the rise due to favorable news from Europe and expectations for the overall power equipment industry. However, since the market's high expectations are already reflected in the stock price, such as the PER exceeding the industry average, investors need to take a cautious approach. Nevertheless, it is a positive sign that foreign investors continue to show interest and that the global policy trend of power grid modernization is supported. As global infrastructure projects become more active again in line with expectations of easing geopolitical risks, Taihan Electric Wire's order backlog and the possibility of performance improvement are further increased.

Taihan Electric Wire’s future depends on increasing orders and global market share for submarine cables, a high value-added product. A turnkey strategy that goes beyond simply product delivery and involves everything from the initial design of the project to installation is the most efficient route to maximize profitability. In the future, when demand for power grid modernization not only in Europe but also around the world, including North America and Asia, becomes visible, this cooperation with Yandenul and Boskalis will serve as a strong reference. If Taihan Electric Wire solidifies its position as a 'total solution company' with both technological and construction capabilities, it has ample potential to evolve beyond a simple wire manufacturer into a global energy infrastructure company.