
South Korean electric wire and cable maker Taihan Cable & Solution announced Wednesday that its sales for last year are estimated to have reached 3.28 trillion won ($2.2 billion), a 15.4 percent increase from around 2.84 trillion won in 2023.
These figures mark the first time since 2011 that the company has exceeded 3 trillion won in annual revenue. Operating profit rose 43.6 percent on-year to 114.6 billion won from 79.8 billion won, while net income amounted to 73 billion won.
Taihan Cable & Solution achieved these record-breaking figures solely through its core cable and solutions business. Before 2010, the company operated several minor affiliates in construction and communication but later streamlined its focus to specialize in cables.
The company’s growth has been driven by an increase in global orders, particularly in the US, Europe and Asia. In the US, Taihan secured contracts worth approximately 730 billion won last year, along with procurements of heating, ventilation and air conditioning (HVAC) and high-voltage direct current (HVDC) cable systems.
In Europe, Taihan won major projects in the UK and Sweden, securing 1.7 trillion won in new orders in the final quarter of 2024 alone.
“We have been expanding investments in electrical infrastructure, particularly in the US and Europe,” said a company official. “By strengthening our global production bases and securing more HVDC cable contracts, we aim for sustainable growth and continued value enhancement.”
By Park Min-ha (en23mp@heraldcorp.com)