This paper describes various characteristics of the new compounds for cable jackets and model cables advanced in waterproof performance in order to essentially solve the problems of underground (URD) distribution class power cable failures. Several compounds were manufactured by the inclusion of additives to base resins available in Korea and tested for basic property, mechanical and electrical characteristics. Two model cables were created by using the compounds determined in the test as being the most appropriate for new structured model cable jacket material. The waterproof performance and mechanical strength of the new cable jackets were verified by applicable tests. As a result, MDPE and LLDPE compounds were superior as cable jackets in both mechanical and electrical characteristic aspects when compared with conventional PVC. In addition, the model cables composed of the new compounds based on MDPE showed good quality results in the water permeability test.