Deal targets power cable supply and energy infrastructure projects
On April 23, local time, at the ‘Korea-Vietnam Business Forum’, Taihan Cable Vice Chairman Song Jong-min (4th from right) signed a Memorandum of Understanding for cooperation in power cable supply and infrastructure projects with Vietnamese EPC and construction infrastructure company NEWTECONS, in the presence of Minister of Trade, Industry and Energy Kim Jeong-gwan (8th from right) and Vietnam’s Minister of Finance Ngo Van Tuan (7th from right).
Taihan Cable announced on April 24 that it has signed a ‘Memorandum of Understanding (MOU) for Cooperation in Power Cable Supply and Infrastructure Projects’ with NEWTECONS, a Vietnamese EPC and construction infrastructure company. This MOU was established to build a cooperative framework aimed at strengthening competitiveness across Vietnam’s energy infrastructure sector.
The signing ceremony took place on the 23rd at the ‘Korea-Vietnam Business Forum’, an official event for the economic delegation held during President Lee Jae-myung’s state visit to Vietnam. The event, held at a hotel in Hanoi, was attended by government officials from both countries, including representatives from the Ministry of Trade, Industry and Energy and Vietnam’s Ministry of Finance, along with Taihan Cable Vice Chairman Song Jong-min and NEWTECONS CEO Nguyen Quang Thuy.
NEWTECONS is a leading Vietnamese EPC and construction infrastructure company that has executed large-scale projects, including Long Thanh International Airport, industrial complexes, and high-rise mixed-use developments.
Through this MOU, the two companies plan to combine their power cable manufacturing capabilities with their construction and engineering expertise to enhance competitiveness in the energy infrastructure sector and establish a stable supply system and a foundation for project implementation.
Vice Chairman Song Jong-min stated, “This agreement, signed during the economic delegation’s visit to Vietnam, is expected to contribute to strengthening cooperation in the energy infrastructure sector between the two countries and stabilizing the supply chain.”
Prior to the event, on the 22nd, Taihan Cable visited the headquarters of Vietnam Electricity (EVN) in Hanoi to discuss mid-to-long-term cooperation measures. Vice Chairman Song Jong-min, along with the President of the Taihan Vina subsidiary, met with key executives including EVN CEO Nguyen Anh Tuan to share updates on HVDC power grid projects and the 400kV-class EHV (Extra-High Voltage) cable plant currently under construction in Vietnam. Furthermore, both sides held in-depth discussions on technology exchange and the potential for business cooperation in the extra-high voltage power grid sector, agreeing to continuously expand their collaboration.
Taihan Cable has designated Vietnam as its second global production base and is continuously expanding its investment in production infrastructure. Taihan Vina, as its key hub, is currently constructing Vietnam’s first 400kV-class EHV cable plant, with a completion target of 2027.
Jung Suk-yee
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