Seoul: Taihan Cable and Solution Co., South Korea's second-largest cable manufacturer, announced its intention to construct a new 1 trillion-won (US$715 million) facility dedicated to producing submarine cables. This development marks a significant expansion for the company as it aims to meet the rising global demand for high-voltage direct current transmission systems. The new plant will be strategically located in Dangjin, approximately 100 kilometers south of Seoul, with completion targeted for 2027. According to Yonhap News Agency, Taihan Cable is already operating three cable-producing plants in Dangjin. The construction of this new facility underscores the company's commitment to enhancing its production capabilities and solidifying its position in the market. Furthermore, the company anticipates that the global market for submarine cables will expand significantly, projecting it to reach 33 trillion won by 2030. This move aligns with Taihan Cable's strategic vision to capitalize on the growing demand and reinforce its standing as a key player in the industry.