Taihan Cable & Solution Co. posted its highest revenue in 13 years after doubling down on its core power cable business and expanding globally.
The South Korean manufacturer reported revenue of 3.28 trillion won ($2.5 billion) in 2024, up 15% from a year earlier. Operating profit jumped 44% to 114.6 billion won, reaching the highest level since 2007, while net income edged up 1.6% to 73 billion won.
The company’s strategic shift to focus solely on cable operations, after divesting construction and telecommunications units, has started paying off. Taihan secured about 730 billion won in new orders from the US market in 2023, including contracts for advanced 500kV high-voltage cable systems.
The manufacturer strengthened its foothold in Europe by winning projects in the UK and Sweden, while expanding its presence in Singapore. New orders hit 1.7 trillion won in the fourth quarter of 2023 alone.
The results reflect growing global demand for power transmission infrastructure as countries upgrade their electrical grids. Taihan’s high-voltage direct current technology positions the company to capture more contracts in this expanding market.
