Eximbank Provides 450 Billion Won in Financial Support for Taihan Cable's HVDC Plant

The Export-Import Bank of Korea announced on March 9 that it will provide financial support totaling 450 billion won to Taihan Cable for the construction of its second submarine cable factory in Dangjin, Chungnam Province.

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This support combines 200 billion won in export financing and 250 billion won from the Supply Chain Stabilization Fund to expand domestic production capacity of high-voltage direct current (HVDC) submarine cables, which are a national core resource. This is part of the "K-Finance Package," which utilizes all of Eximbank's financial tools to provide one-stop support for Korean companies.

The Dangjin Plant No. 2 of Taihan Cable, supported by Eximbank, is a facility that will produce submarine cables essential for ▲the creation of large-scale offshore wind farms, ▲the full-scale development of the West Coast Energy Expressway, and ▲cross-border power grid interconnection. The Ministry of Trade, Industry and Energy has designated submarine cables as a national core resource and has been managing them as such since 2025. In particular, HVDC submarine cables are a critical infrastructure for the national power grid as well as for the construction of global artificial intelligence (AI) data centers, where demand is rapidly increasing. Eximbank plans to use its recently introduced "AI Transformation (AX) Special Program" to further support the growth of related industries.

In addition, the aim is to establish a stable domestic supply chain for power grid infrastructure, thereby both reducing external dependence and strengthening energy security.

This policy-based financial support also serves as assistance for reshoring companies that are building new factories in Korea instead of overseas. This is expected to contribute to balanced regional development by creating new jobs in the Dangjin area and revitalizing related upstream and downstream industries.

An official from Eximbank stated, "We will continue to actively support Korean companies in securing technological leadership in the global market, and promote the reshoring of companies with core technologies to revitalize the regional economy. We will also maximize synergy with the Supply Chain Stabilization Fund to help Korean companies secure global industrial competitiveness."

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