Taihan Electric Wire, Discusses Construction of Ultra-High Voltage Cable Factory in Dong Nai Province, Vietnam

[Financial News] Taihan Electric Wire announced on the 11th that it has conducted discussions with the authorities of Dong Nai Province, Vietnam, regarding the construction of an ultra-high voltage cable factory by its Vietnamese subsidiary, Taihan Vina (TAIHAN CABLE VINA).
The previous day, Kim Junseok, vice president of Taihan Electric Wire's management, Kim Eungseo, executive director of the management planning office, and Choi Seungho, head of Taihan Vina, visited Dong Nai Province to meet with Vo Tan Duc, governor of Dong Nai Province. They discussed the construction plan of the ultra-high voltage cable factory, the economic effects of the investment, smooth administrative procedures, and infrastructure support plans. Taihan Electric Wire had previously announced on the 13th of last month that it would invest approximately 75 billion won to build Vietnam's first 400kV ultra-high voltage cable factory. The factory will be established in the Long Thanh Industrial Complex in Dong Nai Province, where Taihan Vina's existing high, medium, and low voltage factories are located. Construction is set to begin in the first half of next year, with operations targeted for 2027. The current local workforce of about 300 people is planned to be increased by more than 100 additional hires. 
Vo Tan Duc, governor of Dong Nai Province, expressed gratitude by saying, "This investment is a very important and meaningful decision that will greatly contribute to the expansion of Vietnam's transmission and distribution network," and added, "Dong Nai Province plans to actively support Taihan Vina's business investment to proceed smoothly and promptly."
Through the establishment of this factory, Taihan Vina plans to respond to the increasing demand for ultra-high voltage cables in Vietnam and expand exports to global markets such as Europe, the Americas, and ASEAN, aiming to achieve annual export results of over 100 million dollars.

ehcho@fnnews.com Eunhyo Cho Reporter