Taihan Cable & Solution (001440)
Taihan Cable & Solution (001440) is one of Korea’s two big cable makers, selling extra-high-voltage and submarine cables into US and Singapore grid and AI data-center projects. Q1 2026 operating profit jumped 122.9% to ₩60.4 billion, a quarterly record, on a record ₩3.83 trillion order backlog.
| Ticker | 001440 |
|---|---|
| Exchange | KOSPI |
| Sector | Industrials · Wire & Cable |
| Country | South Korea |
| Held by ETF | RISE AI Electricity Infrastructure ETF (0101N0) |
| Wikidata | Q16178308 |
| Last updated | 2026-06-10 |
Next event:Next report · H1 2026 반기보고서 (semi-annual report), estimated · Estimated from Korea's 45-day semi-annual filing deadline; not company-confirmed. Last report: Q1 2026 분기보고서 filed 2026-05-15. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-04-29)
Taihan Cable & Solution posted Q1 2026 revenue of ₩1.083 trillion, up 26.6% year over year, with operating profit more than doubling to ₩60.4 billion, its best quarter since adopting K-IFRS in 2010; non-operating items left a small consolidated net loss of ₩6.8 billion, and the order backlog hit a record ₩3.83 trillion.
| Revenue | ₩1.083조 (KRW 1,083.4 billion)+26.6%YoY |
|---|---|
| Operating profit | ₩604억 (KRW 60.4 billion)+122.9%YoY · Operating margin 5.6%; best quarter since K-IFRS adoption in 2010 |
| Net income | ₩-68억 (KRW -6.8 billion) · Consolidated net loss as non-operating items offset the operating gain |
| Order backlog | ₩3.83조 (KRW 3,827.3 billion) · Record high; about 3.5x the level at end-2021 |
Recent & upcoming events
- · Q1 2026 분기보고서 filed.Confirmed consolidated Q1 revenue of ₩1.083 trillion, operating profit of ₩60.4 billion, and a ₩6.8 billion consolidated net loss in the regulatory filing. (source)
- · FY2025 사업보고서 filed.Full-year 2025 revenue of ₩3.636 trillion, up 10.5%, with operating profit of ₩128.6 billion (+11.7%) and consolidated net income of ₩89.9 billion. (source)
- · Groundbreaking for Dangjin submarine cable plant 2.Broke ground on the roughly $360 million Dangjin plant for 640kV-class HVDC and 400kV-class HVAC submarine cables, with nearly five times the capacity of plant 1 and operation targeted for 2027. (source)
- · Board approves $360 million HVDC submarine cable investment.Approved a 497.2 billion won first-phase investment in submarine cable plant 2 at the Asan National Industrial Complex in Dangjin. (source)
Consolidated figures are from Taihan's DART 분기보고서/사업보고서; backlog and order figures are company disclosures reported by Seoul Shinmun and Seoul Economic Daily.
Figures are as of 2026-06-10 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Taihan Cable & Solution do?
Taihan, founded in 1955, makes the conductors of a power system: extra-high-voltage transmission and distribution cables, submarine cables for offshore wind and island interconnection, solar and industrial cables, busducts, and communication and optical lines, with turnkey installation capability that includes its own cable-laying vessels. The company has been under Hoban Group since 2021, and the new owner’s capital has gone into capacity: a 497.2 billion won ($360 million) first-phase investment in a second submarine-cable plant in Dangjin, designed for 640kV-class HVDC and 400kV-class HVAC cables with nearly five times the capacity of plant 1, targeted for operation in 2027 (Taihan, Jul 16, 2025). FY2025 revenue was ₩3.636 trillion, up 10.5%, with operating profit of ₩128.6 billion (DART 사업보고서).
How is AI driving Taihan’s business?
Through the long-haul projects that AI-era grids require. Management attributes the record quarter to technology and quality “gaining recognition in global markets,” with particular strength in ultra-high-voltage projects driven by AI data-center expansion in the United States and Singapore (Seoul Shinmun, Apr 29, 2026). The forward bet is HVDC: Korea’s KEPCO plans HVDC routes to the capital region inside a 72.8 trillion won grid build-out to 2038 (Korea Times), and Taihan’s Dangjin plant 2 is built for exactly that cable class. Vice Chairman Song Jong-min framed the investment this way:
“With our turnkey competitiveness in submarine cables, we aim to lead the global market, strengthen national competitiveness, and contribute to energy security.”
— Song Jong-min, Vice Chairman, Taihan Cable & Solution (Taihan press release)
What did Taihan report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Taihan posted revenue of ₩1.083 trillion, up 26.6% year over year, and operating profit of ₩60.4 billion, up 122.9%, its best quarter since adopting K-IFRS in 2010, with the operating margin at 5.6% versus a five-year average of 2.76% (DART 분기보고서, Seoul Shinmun). Non-operating items left a small consolidated net loss of ₩6.8 billion in the filing. New orders were ₩734 billion, and the order backlog ended the quarter at a record ₩3.827 trillion, roughly 3.5 times its level at the end of 2021 (Seoul Economic Daily).
What are the risks for Taihan?
- Project and execution risk. Long-dated EHV and submarine projects can slip; the Dangjin plant must be built, qualified, and filled with orders by 2027.
- Below-the-line volatility. Q1 2026 showed record operating profit but a consolidated net loss, as FX and other non-operating items swung the bottom line (DART).
- Copper and FX. Cable economics move with copper prices and the won between order and delivery.
- Competition. It chases the same HVDC and submarine demand as larger rivals, including LS Cable & System at home and global majors abroad.
- Margin base. Even the record quarter ran a 5.6% operating margin, so small cost shocks matter.
Related securities, concepts & terms
- Korea AI Power Infrastructureparent
- High-Voltage Direct Current (HVDC)related
- Gaon Cable (000500)sibling
- LS Electric (010120)related
Related indices & ETFs
- RISE AI Electricity Infrastructure ETF (0101N0) · KB Asset ManagementKorea-listed ETF (Sep 23, 2025) tracking the KRX-Akros AI Electricity Infrastructure Index; this company is a constituent.
- KRX-Akros AI Electricity Infrastructure Index (KAIEI) · KRX-AkrosKRX-Akros thematic index of Korean electricity-infrastructure and data-center-power companies that includes Taihan Cable & Solution.
These references describe index-tracking relationships as a matter of fact and are not a recommendation to buy any product. Akros, as the index provider, may receive licensing fees from product sponsors. Review the product's prospectus before investing.
Frequently asked questions about Taihan Cable & Solution
What does Taihan Cable & Solution do?
Taihan makes wire and cable across the grid: extra-high-voltage transmission and distribution cables, submarine and solar cables, busducts, and communication and optical cables, with turnkey installation capability including its own cable-laying vessels. Founded in 1955 and part of Hoban Group since 2021, it reported FY2025 revenue of ₩3.636 trillion, up 10.5% (DART 사업보고서).
Why is Taihan part of the Korea AI power infrastructure concept?
Because AI load needs long-haul conductors. Management attributes its record results to ultra-high-voltage projects driven by AI data-center expansion in the United States and Singapore (Seoul Shinmun), and the company is investing $360 million in a Dangjin plant to make 640kV-class HVDC submarine cables, the technology behind projects like Korea's planned West Coast grid corridors, with operation targeted for 2027 (Taihan).
What did Taihan report in Q1 2026?
Revenue of ₩1.083 trillion, up 26.6% year over year, and operating profit of ₩60.4 billion, up 122.9%, its best quarter since adopting K-IFRS in 2010, on a 5.6% operating margin; non-operating items left a small consolidated net loss of ₩6.8 billion (DART 분기보고서, Seoul Shinmun).
How big is Taihan's order backlog?
A record ₩3.827 trillion at the end of Q1 2026, about 3.5 times the level at the end of 2021 when Hoban Group took over, with ₩734 billion of new orders booked in the quarter (Seoul Shinmun, Seoul Economic Daily).
When does Taihan next report earnings?
Korean issuers do not pre-announce earnings dates. The next regulatory filing is the H1 2026 반기보고서 (semi-annual report), due around August 14, 2026 under Korea's 45-day semi-annual deadline; that date is estimated, not company-confirmed. Taihan last filed its Q1 2026 분기보고서 on May 15, 2026 (DART).
Sources & references
- 대한전선 분기보고서 (2026.03) · Q1 2026 quarterly report · Taihan Cable & Solution / DART (FSS), 2026-05-15
- 대한전선 사업보고서 (2025.12) · FY2025 annual report · Taihan Cable & Solution / DART (FSS), 2026-03-18
- 대한전선 1분기 매출 1조 834억, 영업이익 604억… 분기 최대 실적 · Seoul Shinmun, 2026-04-29
- Taihan Cable Order Backlog Triples in 5 Years Under Hoban Group · Seoul Economic Daily, 2026-05-21
- Taihan Cable & Solution to invest $360 million in HVDC submarine cable plant 2 in Dangjin · Taihan Cable & Solution, 2025-07-16
- South Korean Subsea Cable Factory Breaks Ground · offshoreWIND.biz, 2025-10-02