South Korea's Taihan Cable & Solution has signed separate memoranda of understanding with Belgium's Jan De Nul and Dutch marine contractor Boskalis to cooperate in the high-voltage direct current (HVDC) subsea cable sector.
Under the agreements, the companies plan to expand cooperation in HVDC subsea cables and related infrastructure while jointly exploring opportunities in energy transition markets.
Taihan Cable said the partnerships would combine its capabilities in cable manufacturing, installation and project execution with the marine infrastructure expertise of Jan De Nul and Boskalis, strengthening its competitiveness in domestic and international HVDC subsea cable markets.
The agreements were signed at the Korea-EU Energy Transition Cooperation Forum in Brussels and focus on cooperation in HVDC submarine cables and related infrastructure.
The forum was organized by South Korea's Ministry of Climate, Energy and Environment during President Lee Jae-myung's state visit to the European Union and aimed to expand cooperation opportunities in renewable energy and power grid infrastructure.
Jan De Nul and Boskalis are active in offshore wind, marine infrastructure and subsea cable installation projects in Europe and international markets.
Taihan Cable is building a second subsea cable plant in Dangjin capable of producing 640-kV-class HVDC cables. The company also operates South Korea's only cable-laying vessel, Palos, and recently secured the 10,000-ton cable-laying vessel Scandi Connector as it expands its installation capabilities.
“The Korea-EU Energy Transition Cooperation Forum has provided an opportunity to strengthen partnerships with outstanding European companies and secure new growth drivers in the global market. We expect these agreements to enhance the global competitiveness of Korea’s power and energy industries, strengthen technological and business capabilities in the critical HVDC grid sector, and expand the role and standing of Korean companies.
“Leveraging our accumulated technological expertise, quality competitiveness and global network, Taihan Cable & Solution will continue to expand opportunities in the global subsea cable and power infrastructure markets,” said Song Jong-min, Vice Chairman of Taihan Cable & Solution.