Taihan Cable & Solution Co. said its order backlog has hit 3 trillion won ($2.2 billion) for the first time, growing nearly three and a half times since its acquisition by Hoban Group in 2020.

The company said that its backlog stood at 3.25 trillion won ($2.34 billion) at the end of August, up from 945.5 billion won at the end of 2020, just before the Hoban deal.

The compound annual growth rate during this period reached above 30 percent, with the backlog surpassing 3 trillion won for the first time in the company’s history.

The backlog excludes sales from Taihan’s copper wire processing business, telecommunications cable operations, and domestic private-sector transactions. It reflects only mid- to long-term project-based orders with strong profitability, most of which are tied to extra-high voltage power grid projects.

In August alone, Taihan secured new contracts worth over 510 billion won. They include the 181.6 billion won Anma offshore subsea cable project on Korea’s west coast, the 110 billion won Singapore 400 kilovolt extra-high voltage power grid project, and the 220 billion won Qatar extra-high voltage power grid project.

All three projects involve building subsea and underground extra-high voltage cables in domestic and overseas markets. They will be executed on a full turn-key basis covering cable production, connection, construction, and testing.

Taihan said its accumulated project experience and turn-key capabilities in major global markets have been central to its order growth.

Looking ahead, the company plans to reinforce its competitiveness in subsea cables and high-voltage direct current cables and position itself as a key player in next-generation power infrastructure projects.

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