Daehan Electric Wire US Corporation Wins 100 Billion KRW Ultra-High Voltage Power Grid Project

The Largest Scale Since Establishing the US Corporation... Expanding Competitiveness

Construction site in the United States where cables supplied by Daehan Electric Wire are being used (Photo by Daehan Electric Wire)

[Asia Economy Reporter Lee Hye-young] On the 15th, the American subsidiary of Korea Electric Wire announced that it had secured a large-scale project worth up to 100 billion KRW.

Under this contract, Korea Electric Wire's US subsidiary will supply ultra-high voltage underground cables, accessories, and ultra-high voltage overhead cables to a local power company over three years starting from 2022.

Korea Electric Wire expects sales of up to 100 billion KRW through this project. This is the largest project secured since its entry into the US market in the early 2000s.

In particular, this project holds significant meaning as it is a cooperative contract based on mutual trust, unlike typical product supply contracts. The company explained that this order is recognized comprehensively in terms of technology, quality, project execution capability, and ESG (environment, social, and governance) factors such as safety·and environment.

Last year, Korea Electric Wire's US subsidiary achieved its highest performance since establishment by securing orders worth approximately 280 billion KRW. This was the result of selecting the US, where there is high demand for replacing aging power grids, as a strategic region and promoting technology-centered, locally focused sales activities. The demand for power grids across North America is expected to continue expanding this year as well.

A Korea Electric Wire official stated, "As the Biden administration's large-scale infrastructure construction projects are gaining momentum, this will be a great opportunity for Korea Electric Wire, which has established itself as a major cable supplier in the US," adding, "We plan to continue investing, including securing production subsidiaries, to expand competitiveness in the US market."

This content was produced with the assistance of AI translation services.