Taihan Cable & Solution is making a major strategic investment in Vietnam, an initiative that not only expands the Korean company’s global footprint but also underscores the Greater Ho Chi Minh City region’s robust economic momentum.

Taihan, established in 1941 as the first wire and cable company in South Korea, will invest a substantial 75 billion won ( US$54.1 million ) to build the first 400-kilovolt ( kV ) extra-high voltage cable factory in Vietnam.

The new plant will serve both the domestic market and export demand, reinforcing the role of its Vietnamese subsidiary, Taihan Vina, as a cornerstone for high-tech cable production and a key export hub.

This new investment decision was discussed last week among Dong Nai provincial officials, with  provincial chairman Vo Tan Duc saying his province will provide the Korean corporation with its full support so that the new investment project can go smoothly in both construction and operations.

Taihan Vina has its representative office in Ho Chi Minh City, and the new investment, it says, is a testament to Greater Ho Chi Minh City’s attractiveness to foreign investors, a trend evidenced by its strong performance throughout the year.

Dong Nai province has attracted over US$2 billion in foreign direct investment in the first eight months of the year alone, according to the provincial statistics office. This capital was distributed across 121 new projects and an equal number of 121 operating projects with increased capital, demonstrating a confidence not just in starting new ventures but in expanding current operations within the province.

The province’s economic vitality extends beyond investment inflows. Between January and August, the province’s export turnover, its statistics office reports, surged by nearly 19% year-on-year to almost US$22.9 billion, resulting in a substantial trade surplus of over US$6.5 billion.

These figures reflect a powerful economic engine that is not only attracting capital, but is also generating significant trade and sustaining a high-level of commercial activity in the region. Dong Nai’s expanded development space and abundant land fund, following its recent merger with old Binh Phuoc province, the office reports, have further amplified its appeal.

Taihan Cable & Solution’s plan to start building its new plant in the first half of 2026, with operations starting in 2027, aligns, it notes, with the province’s forward-looking vision. The project, which also anticipates creating more than 100 new local jobs, aims to elevate Taihan Vina into a major global production hub for extra-high voltage cables.

Taihan Vina was established in 2005 as a joint venture called Taihan Sacom Cable between Taihan Cable & Solution and its Vietnamese partner Sacom. Taihan later acquired full ownership and renamed the company Taihan Vina in 2016.

The facility, Taihan’s first manufacturing factory in Vietnam, was launched in July 2007 in Long Thanh Industrial Park, which will also house the new facility. Taihan Vietnam already had a strong base with sales of 140.3 billion won ( US$101.3 million ) last year, according to Business Korea, and this new investment will build on that success.

In addition to production in South Korea and Vietnam, Taihan has overseas offices in South Africa, the Democratic Republic of Congo, Hong Kong, Mongolia, the US, Canada, the United Arab Emirates, Saudi Arabia, Kuwait, Singapore, Malaysia, Thailand and Australia.