Daehan Cable has secured national financial support to enhance its submarine cable installation capabilities.
On July 2, Daehan Cable announced that the Korea Export-Import Bank will provide 100 billion won (approximately $75 million) to assist in the acquisition of the company's dedicated cable-laying vessel, the 'Scandi Connector.'
This funding follows a previous financial support of 450 billion won for the construction of the second submarine cable factory in Dangjin, which was announced in March. The Export-Import Bank expanded its support to include construction infrastructure, considering Daehan Cable's investment plans, project execution capabilities, and growth potential.
The Scandi Connector, acquired by Daehan Cable in May, is a state-of-the-art cable-laying vessel with a capacity of 11,000 tons. It is equipped with a dynamic positioning system (DP2) and a large dual carousel, enabling the installation of long-distance interconnections and high-voltage direct current (HVDC) submarine cables.
Notably, the vessel can perform seabed anchoring operations, allowing for stable construction even in shallow waters with strong currents along the west coast.
With the addition of the Scandi Connector to its fleet, alongside the existing vessel 'Palos,' Daehan Cable aims to reduce its reliance on foreign vessels and enhance its capabilities in offshore wind and national power grid projects.
A representative from the Export-Import Bank stated, "Securing construction capabilities is as important as production facilities, and this investment will contribute to strengthening the competitiveness of the domestic submarine cable industry."
* This article has been translated by AI.
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