Taihan Cable & Solution signed a land agreement with KG Steel at Hoban Park in Seocho-gu, Seoul. This deal secures a site for a second submarine cable factory and supports Taihan Cable’s global growth plans.
Taihan Cable land deal and investment
Leaders from both groups attended the signing ceremony. Taihan Vice Chairman Song Jong-min and President Park Sung-hee joined Hoban Group planning president Kim Dae-heon and KG Group strategy president Kwak Jeong-hyun. Together, they underlined a commitment to closer and longer-term cooperation.
Through a convertible bond deal, KG Steel receives 110 billion won (about 78.5 million dollars) for the land. This approach shows strong confidence in Taihan Cable’s submarine cable growth and indicates that both companies expect meaningful future value.
Strategic site near Taihan Cable’s existing submarine cable factory
Through a convertible bond deal, KG Steel receives 110 billion won (about 78.5 million dollars) for the land. This approach shows strong confidence in Taihan Cable’s submarine cable growth and indicates that both companies expect meaningful future value.
Taihan Cable will produce submarine cables, underground cables and power and communication products at this hub. In turn, the company increases synergies, shortens logistics routes and strengthens its ability to handle large transmission projects.
New HVDC-capable plant and North American growth focus
The second factory will include a VCV tower that produces 620 kV-class HVDC submarine cables and external network submarine cables. This new capacity prepares Taihan Cable to serve next-generation offshore wind links, interconnectors and long-distance transmission projects that need ultra-high-voltage technology.
Furthermore, Taihan Cable and KG Steel plan to deepen their cooperation in the North American market. They aim to use their combined experience to grow exports to the U.S. and to explore joint ventures that expand their presence in the region.