Taihan Cable & Solution001440.KS

關於Taihan Cable & Solution

Taihan Cable & Solution is one of South Korea's oldest wire and cable manufacturers, producing power cables from low-voltage lines to extra-high-voltage underground and submarine systems, along with related installation services. Once the core of the former Taihan Electric Wire group, the company was later acquired by construction-centered Hoban Group, now its controlling shareholder. Sales come from Korean utility and construction demand plus export projects for grids and interconnections abroad, and the company has invested in submarine cable capability aimed at offshore wind farms and island interconnection work.

The company competes as the second domestic force behind LS-affiliated cable makers, so relative positioning in high-voltage and submarine segments is a structural theme. Project-based revenue makes results lumpy and dependent on order timing at utilities and offshore wind developers. Grid modernization and electrification underpin long-run demand, while copper input costs are generally passed through contract structures. Hoban Group control links its governance narrative to a privately held construction group, and submarine cable expansion requires capital commitments that investors track closely.

Founded in 1941 as Chosun Electric Wire, Taihan is Korea's oldest cable maker and for decades ran neck and neck with rivals at the top of the domestic industry. Overreach during the 2000s, when the group diversified into construction, resorts, and real estate, left it debt-burdened, and after restructuring the company passed to private equity ownership under IMM in 2015. Hoban, a housing-focused construction group, acquired control in the early 2020s, giving the cable maker a deep-pocketed strategic parent, and the company adopted the English name Taihan Cable & Solution to signal a broader ambition spanning systems, installation, and submarine cable work.

Winning work means qualifying for tenders: utilities prequalify suppliers on type-test certification and installed references, then award contracts in which delivery schedules and performance penalties dominate the risk. Taihan's extra-high-voltage track record clears those hurdles in the Middle East, North America, Australia, and Asia, and overseas footholds, including production in Vietnam, a South African venture, and project bases in Kuwait and Australia, anchor regional sales. The company increasingly bids turnkey, pairing manufacturing with its own installation capability so it captures engineering margin rather than product revenue alone. At home, supply for the national grid operator's transmission program provides a steady baseload of demand beneath international project wins.

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