 |
– Chairman Cho Emphasizes Power Infrastructure as Foundation of the AI Economy, Identifies Power Equipment as Next Growth Driver
– Hyosung Heavy Industries Signs Significant Power Equipment Supply Contracts Across North America and Europe
– Hyosung’s Advances in High-Voltage Direct Current (HVDC) Technology Capture Global Attention
SEOUL, South Korea, Sept. 2, 2025 /PRNewswire/ — Hyosung Heavy Industries is on track to deliver record results this year, with projected sales reaching KRW 5 trillion (approx. USD 3.6 billion) and operating profit topping KRW 500 billion (approx. USD 360 million) for the first time, driven by rising power demand linked to AI adoption. Industry observers point to the leadership of Chairman Cho Hyun-joon as a key factor driving this momentum.
View of the Yangju Substation with Hyosung-developed 200MW Voltage-Source HVDC installed
Chairman Cho has identified the power equipment business as Hyosung Group’s next growth engine, reaffirming the Group’s commitment to maintaining a leading role in the global power equipment market.
- Power Infrastructure at the Heart of the AI Economy, Chairman Cho Emphasizes
Chairman Cho has consistently reinforced his view that "AI is transforming industries and daily life, and reliable power infrastructure has become ever more critical." He further noted, "To anticipate global customer requirements and respond to rapid market changes, Hyosung Heavy Industries must secure distinctive technological competitiveness to position itself as a critical supplier to the AI economy."
Despite a slowdown in the global power sector and strong competition from established European players, Chairman Cho has sustained investment in next-generation grid solutions, including AI-enabled smart factories. Since March of this year, he has been directly engaged as an internal director of Hyosung Heavy Industries, providing full strategic support and drawing on international networks to expand the company’s footprint in new and emerging markets.
- Hyosung Heavy Industries Secures Major Power Equipment Orders in North America and Europe
These initiatives are delivering tangible results. Hyosung Heavy Industries has signed a series of high-value contracts across North America and Europe.
Hyosung Heavy Industries has become the first Korean manufacturer to enter into a long-term supply agreement for ultra-high-voltage transformers and reactors with leading German transmission system operators. In Scotland, Hyosung secured an order valued at KRW 85 billion to supply ultra-high-voltage transformers. It also concluded a long-term contract with French transmission operators last year and won additional orders earlier this year. Hyosung is strengthening its position in Europe, one of the most advanced power markets globally, through participation in the UK National Grid’s large-scale phase-shifting transformer program and an ultra-high-voltage transformer project for Norway’s state-owned utility.
Analysts also highlight the company’s timely response to the U.S. power market, which has entered a strong growth cycle, by localizing production at an early stage. This year, Hyosung Heavy Industries won the largest single order for ultra-high-voltage breakers in the North American market and continues to secure additional contracts for advanced, large-capacity products such as 765kV ultra-high-voltage transformers and 800kV gas-insulated switchgear (GIS).
- Hyosung’s Technological Competitiveness Brings Global Recognition for HVDC Localization
Hyosung Heavy Industries is accelerating the localization of high-voltage direct current (HVDC) transmission technology as it aims to lead the next phase of the global power market.
The company initiated development of a 200MW HVDC system in 2017 under the leadership of Chairman Cho. Despite financial headwinds at the time, Hyosung committed KRW 100 billion (approx. USD 72 million) to R&D over seven years, achieving the successful localization of a 200MW-class HVDC system in Korea last year—a first for the nation.
HVDC technology converts alternating current (AC) generated at power plants into direct current (DC) for efficient long-distance transmission, and then back it into AC for delivery to homes and businesses. While high-voltage alternating current (HVAC) has been the conventional method, HVDC is increasingly recognized for its superior efficiency in transmitting large amounts of power across long distances. The rise of advanced power semiconductors (IGBTs) and digital control systems has enhanced conversion and voltage management, underscoring HVDC’s strategic importance.
Chairman Cho stated, "HVDC is not simply a transmission method—it is a cornerstone technology that will shape the future energy landscape." He added, "We are committed to positioning Hyosung Heavy Industries as a leading player in the global HVDC market."
Looking forward, Hyosung Heavy Industries plans to secure technology leadership through the development of 2GW-class HVDC systems. The company intends to strengthen its position in both domestic and international transmission network projects, demonstrating the capabilities required to lead in the next generation of power infrastructure.