Chungnam Province and Taihan Electric Wire Sign Agreement to Build 1 Trillion Won Submarine Cable Factory in Dangjin

Production of Ultra-High Voltage Direct Current Submarine Cables for Long-Distance Transmission

Chungnam Province has successfully attracted investment worth 1 trillion won.

On the 18th, Governor Kim Taeheum signed an investment agreement at the provincial government office with Hoban Group Chairman Kim Seongyu, Daehan Cable CEO Song Jongmin, and Dangjin Mayor Oh Seonghwan. Hoban Group is the parent company of Daehan Cable.

According to the agreement, Daehan Cable plans to invest 1 trillion won by 2027 to build a second submarine cable plant in the Godae District of the Dangjin Asan National Industrial Complex. The new plant will produce high-voltage direct current (HVDC) submarine cables capable of long-distance power transmission, which is expected to strengthen the company's competitiveness in the global market.

As carbon neutrality policies spread worldwide, the submarine cable industry, along with offshore wind power, is emerging as a future growth engine. The global submarine cable market is expected to grow to 33 trillion won by 2030.

Founded in 1941, Daehan Cable currently operates three factories in Dangjin, Chungnam. In particular, the Dangjin Cable Plant, located in Godaemyeon, Dangjin, covers an area of 350,000 square meters and is the largest single cable factory in the world.

Governor Kim stated, "With the investment in the second plant, which will have more than five times the production capacity of the first, Daehan Cable will secure a leading position in the global submarine cable market and contribute to strengthening national competitiveness. We will implement business-friendly policies that foster mutual growth between companies and the region, so that Daehan Cable can continue to grow and develop even further in Chungnam."

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