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MK DB |
South Korea’s Taihan Cable & Solution Co. is set to post record results this year as artificial intelligence (AI)-driven surges in electricity demand usher the power infrastructure industry into a super cycle.
According to industry sources on Thursday, Taihan Cable & Solution is expected to achieve revenue of around 900 billion won ($620 million) in the fourth quarter this year, bringing full-year revenue to roughly 3.5 trillion won.
This would surpass last year’s revenue of 3.28 trillion won and mark an all-time high.
Annual operating profit is also projected to exceed 100 billion won for the second consecutive year. Its order backlog reached a record 3.42 trillion won as of the end of the third quarter.
The company’s strong performance is attributed to expanding sales in global markets such as North America and Europe, as well as the realization of submarine cable revenue through the stable execution of the Yeonggwang-Nakwol Offshore Wind Power Project.
Taihan Cable & Solution plans to secure new growth engines by strengthening its competitiveness in submarine cables.
In particular, it aims to target multiple offshore wind power projects being promoted along the west coast, including the West Coast Energy Highway project.
The West Coast Energy Highway is a large-scale ultra-high-voltage direct current (HVDC) transmission network designed to deliver renewable power directly to the Seoul metropolitan area.
Anticipating long-term growth in the submarine cable market, the company has been investing in product research and developing and facility expansion since 2009.
It completed its first submarine cable plant in Dangjin, South Chungcheong Province, in June, and launched construction of a second facility in September capable of producing 640-kilovolt-class HVDC submarine cables.
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