South Korea’s Taihan Cable & Solution Co. has reported a significant upswing in its U.S. business, surpassing a cumulative order total of $32 million (42.8 billion won) in just the fourth week of January. This brisk performance marks a continuation of the company’s strong start to the year, already exceeding 10% of its record annual U.S. orders of $300 million in 2022.
The surge in orders spans across key U.S. regions including New York, California, and Arizona, reflecting the broad appeal and applicability of Taihan Cable’s product range. The company’s offerings cover a wide spectrum, including extra-high-voltage (EHV) cables for transmission, medium-voltage (MV) and low-voltage (LV) cables for distribution, as well as processed wires.
This growth in orders is largely attributed to the substantial investments in the power generation, transmission, and distribution sectors in the U.S. The Inflation Reduction Act’s focus on renewable energy expansion and the periodic replacement of aging power grids every 30 years have created a conducive environment for Taihan Cable’s expansion.
In response to these market dynamics, Taihan Cable is strategically planning to broaden its market reach and order book with specialized products such as submarine cables and high-voltage direct-current (HVDC) cables, commencing mass production this year.
The company’s strategy involves leveraging its diverse portfolio in the U.S., encompassing extra-high-voltage, medium/low-voltage, and processed wire products. Since establishing a sales subsidiary in New York in 2001, Taihan Cable has progressively expanded its U.S. footprint, opening branches on the West Coast in Los Angeles (2013) and on the East Coast in New Jersey (2017). Looking ahead, the company is exploring the possibility of acquiring local cable factories or subsidiaries in the U.S. to further solidify its presence in the market.
This robust performance in the U.S. signifies Taihan Cable & Solution’s increasing influence in the global cable and solutions sector, particularly in a market experiencing rapid growth and transformation due to evolving energy policies and infrastructure needs.
