Ministry Selects Four Companies for HVDC Transformer Development... Kickstarting Early Completion of West Coast Energy Expressway

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The Ministry of Trade, Industry and Energy announced on September 24 that it has selected four companies-Hyosung Heavy Industries, HD Hyundai Electric, LS Electric, and Iljin Electric-as the final participants in the high-voltage direct current (HVDC) converter transformer development project, which is being promoted to expedite the early completion of the West Coast Energy Expressway.

This project aims to localize large-capacity 500kV-class voltage source HVDC converter transformers. Currently, domestic technology remains at the megawatt (MW) level, so independent development of core equipment is urgently needed to establish a gigawatt (GW)-level energy expressway.

In July, the Ministry allocated 6 billion won to this project in the second supplementary budget, and an additional 12 billion won has been included in the government’s budget proposal for next year. The total project size is 56 billion won, with 28 billion won in government funding and 28 billion won from the private sector, covering the period from 2025 to 2027.

After operating a planning advisory group and announcing the project in July, the Ministry finalized the participating companies through a review by an evaluation committee consisting of industry, academia, and research experts. The review assessed technological capability, research competence, commercialization potential, and safety management plans. All of the budget allocated for this year will be fully executed, and the Ministry plans to complete technology development by 2027.

Separately, the private sector is also developing large-capacity HVDC valves and controllers. The government plans to integrate the outcomes of national projects and private research to establish a demonstration line by 2030.

In addition, within this year, the government will establish an 'HVDC Industry Development Strategy' to present specific construction and demonstration plans, foster the industrial ecosystem, and support participating companies so they can advance from localization to export-driven industrialization.

A Ministry official stated, "This project is directly linked to the construction of the energy expressway, a key task for balanced national development, so we will push forward with a sense of urgency," adding, "We will create an HVDC industry ecosystem and secure new growth engines."

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