Hanwha Solutions eyes global markets with domestically-produced cable compounds

Hanwha Solutions' cross-linked polyethylene (XLPE) cable insulation with a capacity of up to 400 kilovolts [HANWHA SOLUTIONS]

Hanwha Solutions is eyeing an expansion of its presence in global markets with high-voltage cable materials amid increasing demand for electricity worldwide.

The firm said Thursday it recently became the first Korean company to domestically produce cross-linked polyethylene (XLPE) for cables with a capacity of up to 400 kilovolts.

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XLPE refers to a high-purity insulation material that significantly enhances the performance of polyethylene (PE) by incorporating special additives to boost heat resistance.

Hanwha Solutions said it also succeeded in developing XLPE for submarine cables whose quality has been approved by various global cable companies.

The company's sales of high-voltage cable materials jumped 61 percent last year compared to the previous year.

"Cable materials are a key future growth engine of [our] chemical business," said Won Jae-sik, head of Hanwha's polyolefin business. "Hanwha will cultivate markets around the world with various high-voltage cables and technology-based high-value materials."

BY SARAH CHEA [chea.sarah@joongang.co.kr]