Taihan Cable, a leading player in the wire and cable industry, is making strategic moves to penetrate the energy infrastructure market. The company is forging partnerships with local firms in Vietnam to accelerate this process. On April 24, Taihan Cable publicized the signing of a Memorandum of Understanding (MOU) for Power Cable Supply and Infrastructure Business Cooperation with Newtecons, a prominent Vietnamese EPC (Engineering, Procurement, and Construction) and construction infrastructure company.
The MOU is designed to establish a cooperative framework that will enhance the overall competitiveness of the energy infrastructure business in Vietnam. The signing ceremony was held on April 23, as part of the official “Korea-Vietnam Business Forum”. This event was part of President Lee Jaemyung’s visit to Vietnam and took place at a hotel in Hanoi.
The ceremony was graced by government officials from both countries, including representatives from the Ministry of Trade, Industry and Energy and the Ministry of Finance of Vietnam. Also present were Song Jongmin, Vice Chairman of Taihan Cable, and Nguyen Quang Thuy, CEO of Newtecon.
Newtecon is a leading EPC and construction infrastructure company in Vietnam. It has executed major projects such as the Long Thanh International Airport, industrial complexes, and high-rise mixed-use developments. With its stable business execution capabilities and extensive experience, Newtecon has established a strong foothold in the local construction market.
The MOU between Taihan Cable and Newtecon aims to merge their power cable manufacturing capabilities and construction and implementation expertise. This collaboration is expected to enhance the competitiveness of energy infrastructure projects and establish a stable supply system and business execution base. The two companies will also explore joint business opportunities to meet local infrastructure development demand and expand the scope of cooperation through technical consulting and information sharing.
Vice Chairman Song expressed his optimism about the agreement, stating, “This agreement, signed during the Vietnam economic delegation’s schedule, is expected to contribute to strengthening cooperation in the energy infrastructure sector and stabilizing the supply chain between the two countries.” He further added, “Cooperating with Newtecon, a leading local EPC company, will be a crucial opportunity to expand business in the rapidly growing Vietnamese energy infrastructure market.”
In a related development, Taihan Cable visited the headquarters of Vietnam Electricity (EVN) in Hanoi on April 22, to discuss mid- to long-term cooperation plans. This move underscores Taihan Cable’s commitment to establishing a stable supply system and business execution base in Vietnam.
