In Its Second Year Under Hoban Group, Daehan Electric Wire Launches New Business 'Winning Move'

Seeking New Business Ventures to Secure Future Growth Engines

[Asia Economy Reporter Park Sun-mi] Daehan Electric Wire, now in its second year under the Hoban Group, is laying the foundation for entering new businesses and securing growth engines.

According to Daehan Electric Wire on the 18th, since being acquired by Hoban Group, ranked 37th in the business world, in May last year, the company has expanded investments in cables and new growth engines over the past 10 months to lead the future society.

Daehan Electric Wire chose the optical cable business as its first investment after joining the Hoban Group. It has completed the establishment of optical cable facilities at its Dangjin plant in Chungnam and is pushing forward with the business aiming for mass production within the first half of the year. Additionally, it is accelerating the construction of the Kuwait Daehan plant, the first optical cable manufacturing corporation in Kuwait, planning to target the global market through existing new infrastructure.

Along with this, the company has also begun full-scale establishment of a coastal plant for large-scale submarine cable production. In February, it selected the Gode District of Dangjin Port, located about 10 minutes from the Dangjin plant, as the site for the submarine cable coastal plant. While strengthening competitiveness in the cable sector, it is also expanding investments for the future.

Last month, Daehan Electric Wire signed an investment business agreement (MOU) with FRT, a wearable robot specialist company. By investing in wearable robots worn on the body to enhance muscle strength, the company aims to enter a high-growth new business driven by social demands for worker safety. Utilizing not only the domestic market but also Daehan Electric Wire’s global network, it plans to actively develop overseas markets as a new growth engine.

In addition to this MOU, on the 7th, Daehan Electric Wire and Hoban Construction formed a venture investment association to discover, nurture, and strengthen investments in innovative technology startups. The second investment association includes Daehan Electric Wire and Hoban Construction as contributing members, with participation from some Hoban Group affiliates. Plan H Ventures will manage the operation of the investment association. Through participation in this investment association, Daehan Electric Wire seeks to discover and invest in startups related to renewable energy and the environment in line with its mid- to long-term environmental management strategy, ‘Green 2030.’

A Daehan Electric Wire official said, “Being incorporated into the group along with Hoban Construction and Hoban Business has laid the groundwork for business expansion,” adding, “This year, as a total solution company in the energy and power industry, we plan to focus all efforts on producing visible results.”

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