Taihan Cable Targets Vietnam's Energy Infrastructure Market... Signs MOU with Local EPC Newtecon

Power Cable Supply and Infrastructure Business Cooperation
Establishing a Stable Supply System and Business Execution Base
Discussing Cooperation with Vietnam Electricity (EVN)

Taihan Cable is accelerating its entry into the energy infrastructure market through partnerships with local companies in Vietnam.

On April 24, Taihan Cable announced that it had signed a "Memorandum of Understanding (MOU) for Power Cable Supply and Infrastructure Business Cooperation" with Newtecons, a Vietnamese EPC (Engineering, Procurement, and Construction) and construction infrastructure company. This MOU was established to build a cooperative framework aimed at strengthening the overall competitiveness of the energy infrastructure business in Vietnam.

The signing ceremony took place on April 23 during the official "Korea-Vietnam Business Forum," held as part of President Lee Jaemyung's visit to Vietnam. The event, held at a hotel in Hanoi, was attended by government officials from both countries—including representatives from the Ministry of Trade, Industry and Energy and the Ministry of Finance of Vietnam—as well as Song Jongmin, Vice Chairman of Taihan Cable, and Nguyen Quang Thuy, CEO of Newtecon.

On the 23rd (local time), Taihan Cable signed a memorandum of understanding (MOU) with Newtekon at the Korea-Vietnam Business Forum. (From the fourth left, Song Jongmin, Vice Chairman of Taihan Cable, and Nguyen Quan Thuy, CEO of Newtekon. Taihan Cable).

Newtecon is a leading EPC and construction infrastructure company in Vietnam, having carried out major projects such as Long Thanh International Airport, industrial complexes, and high-rise mixed-use developments. With stable business execution capabilities and extensive experience, it has established a solid presence in the local construction market.

Through this MOU, the two companies plan to combine their power cable manufacturing capabilities and construction and implementation expertise to enhance the competitiveness of energy infrastructure projects and establish a stable supply system and business execution base. Building on this, they will seek joint business opportunities to meet local infrastructure development demand and continue to expand the scope of cooperation through multifaceted exchanges such as technical consulting and information sharing.

Vice Chairman Song stated, "This agreement, signed during the Vietnam economic delegation's schedule, is expected to contribute to strengthening cooperation in the energy infrastructure sector and stabilizing the supply chain between the two countries." He added, "Cooperating with Newtecon, a leading local EPC company, will be a crucial opportunity to expand business in the rapidly growing Vietnamese energy infrastructure market."

Prior to the event, on April 22, Taihan Cable visited the headquarters of Vietnam Electricity (EVN) in Hanoi to discuss mid- to long-term cooperation plans. Vice Chairman Song Jongmin, along with the head of the Taihan Vina subsidiary, met with Nguyen Anh Tuan, CEO of EVN, and other key executives to share updates on the HVDC power grid project and the status of the 400kV-class extra-high voltage (EHV) cable factory currently under construction in Vietnam. Both sides also held in-depth discussions on technology exchange and potential business cooperation in the EHV power grid sector and agreed to continue expanding their collaboration.

Taihan Cable has designated Vietnam as its second global production base and is continuously expanding its investment in production infrastructure. Taihan Vina serves as the core base, and is currently building Vietnam's first 400kV-class EHV cable factory, scheduled for completion by 2027.

Meanwhile, Vietnam is a market where demand for power grid expansion is rapidly increasing due to accelerated industrialization and urbanization. The country’s annual power demand is expected to grow by about 10 to 12 percent per year until 2030. In particular, with the active development of transmission and distribution infrastructure and industrial complexes, demand for high-quality power cables continues to rise.

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