Korean Lawmakers Confirm Taihan's Global Competitiveness

Members of the Foreign Affairs and Unification Committee of the National Assembly of the Republic of Korea visit the LPT2 site in Britain. (Provided by Taihan Cable & Solution) Members of the Foreign Affairs and Unification Committee of the National Assembly of the Republic of Korea visited a key power infrastructure construction site in London, Britain, where they directly confirmed the global competitiveness of a Korean company. Taihan Cable & Solution said on Oct. 15 that members of the National Assembly committee visited the site of the LPT2 (London Power Tunnels 2) project, which is under way in London, on Oct. 12 local time. The visit was arranged during the committee’s schedule in Britain to review the overseas business achievements of Korean companies and cases of economic cooperation between Korea and Britain. Those present at the site included Democratic Party of Korea lawmakers Chung Cheong-rae, Kim Young-ho, Lee Jae-gang and Hong Ki-won; People Power Party lawmakers Kwon Young-se and Ahn Cheol-soo; Rebuilding Korea Party lawmaker Kim Jun-hyung; and Kim Heung-jong, ambassador of the Republic of Korea to the United Kingdom, along with other key officials. LPT2 is a large-scale project being pursued by National Grid, Britain’s power transmission operator, in response to growing electricity demand in London. Its core objective is to strengthen the foundation for a stable power supply by building tunnels beneath the city and installing extra-high-voltage power cables. In the project, Taihan Cable & Solution is taking the lead by handling the turnkey scope, including the supply of 400kV extra-high-voltage cables and accessories as well as system design and engineering. Britain is currently a strategic hub where infrastructure investment is actively taking place amid the replacement of aging power grids and a sharp rise in electricity demand. Building on the LPT2 project, Taihan Cable & Solution has been expanding local business opportunities, and in the first half of this year alone it won a total of four projects in Britain, recording new orders worth about 100.0 billion won ($74.0 million). The lawmakers who visited the site said they hoped Taihan Cable & Solution, as Korea’s first wire and cable company, would continue to enhance the nation’s prestige in the global market based on its accumulated technological capabilities and contribute to the development of the national economy. In response, the company said the visit was an important opportunity to share the role and achievements of Korean companies in overseas markets.