Taihan Cable sees strong US business in January

South Korea's Taihan Cable & Solution Co. announced on Friday that it has surpassed a cumulative order in the US amount of $32 million (42.8 billion won) in the fourth week of January continuing its brisk performance since the beginning of the year. 

The order amount for this month exceeds 10% of the annual record set in 2022, the year when the company achieved its highest annual orders in the US ($300 million.)

The orders are distributed across key regions in the United States, including New York, California, and Arizona.

The product range includes extra-high-voltage (EHV) cables for transmission, medium-voltage (MV) and low-voltage (LV) cables for distribution, as well as processed wires.

The US is witnessing significant investments in the power generation, transmission, and distribution sectors due to policies after the Inflation Reduction Act focusing on renewable energy expansion and the periodic replacement of aging power grids every 30 years.

Taihan Cable plans to expand its market and orders with strategic products such as submarine cables and high-voltage direct-current (HVDC) cables, starting mass production this year.

The company aims to leverage its competitive portfolio of extra-high-voltage, medium/low-voltage, and processed wire products in the US.

Having established a sales subsidiary in New York in 2001, Taihan Cable entered the US market and expanded its presence with the opening of a West Coast branch in Los Angeles in 2013 and an East Coast branch in New Jersey in 2017. The company is considering acquiring local cable factories or subsidiaries in the US.

Write to Hyung-Kyu Kim at khk@hankyung.com