$360M investment to be made for first phase of South Korean subsea cable manufacturing plant

South Korean Taihan Cable & Solution is investing $360 million for the first phase of construction of its second submarine cable manufacturing facility, which will once operational deliver a production capacity nearly five times greater than the company’s first submarine cable plant.

Taihan opened the first phase of its first submarine cable plant that produces inter-array cables, covering around 44,800 m2 behind Godae Pier at Pyeongtaek’s Dangjin Port, in May 2024. The second phase, which includes facilities for the production of export cables, was on schedule for completion by the first half of 2025.

The company’s board of directors has approved an investment of approximately $360 million (KRW 497.2 billion) for the first phase of construction of the submarine cable plant 2, spanning approximately 215,000 square meters, located in the Godae District of the Asan National Industrial Complex in Dangjin, adjacent to the existing plant.

Following the investment decision, the plan is to break ground this year. The first phase of the new plant will be dedicated to producing 640 kV-class HVDC and 400 kV-class HVAC submarine cables, and will feature a Vertical Continuous Vulcanization (VCV) system.

This first phase is expected to begin operation in 2027, while the second phase of investment to further expand production capacity will be pursued based on future market conditions.

According to Taihan, the investment is driven by rising global and domestic demand for submarine cables, the growth of the offshore wind power market, as well as the company’s participation in the West Coast Energy Highway project.

“By moving forward with the construction of submarine cable plant 2, we are not only responding to the growing demand for HVDC submarine cables, but also positioning ourselves to actively participate in the expanding ‘West Coast Energy Highway’ project,” said Taihan’s Vice Chairman Song Jong-min.

“With our turnkey competitiveness in submarine cables, we aim to lead the global market, strengthen national competitiveness, and contribute to energy security.”

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