"U.S. Expert" Cho Hyunjoon’s Persistence Pays Off...Hyosung Signs Largest Supply Contract Since Its Founding

Hyosung Heavy Industries has achieved the largest order in its history in the U.S. power market. This was the result of direct leadership from Hyosung Chairman Cho Hyunjoon, a seasoned expert on the United States.

Hyosung Heavy Industries announced on the 10th that it had signed a power equipment supply contract worth 787 billion won with a major U.S. transmission system operator for 765 kV ultra-high-voltage transformers, reactors, and other power equipment. Among Korean power equipment companies operating in the U.S. market, this is the largest single-project contract ever.

Profile photo of Cho Hyunjun, Chairman of Hyosung. Hyosung Heavy Industries

원본보기 아이콘

Recently, major U.S. power companies have been anticipating a sharp increase in electricity demand due to the construction of artificial intelligence (AI) data centers and the expansion of electric vehicle adoption, and they are racing to plan the construction of 765 kV transmission networks to ensure stable power supply. A 765 kV transmission network can transmit large-capacity power over long distances and has the advantage of significantly reducing transmission losses compared with existing 345 kV or 500 kV lines.

The 765 kV ultra-high-voltage transformer is a power device with a high level of design complexity, requiring advanced high-voltage insulation technology and rigorous testing and verification processes. As a leader in the 765 kV ultra-high-voltage transformer sector, Hyosung Heavy Industries established its U.S. subsidiary in 2001 and, in 2010, became the first Korean company to export 765 kV ultra-high-voltage transformers to the United States. Since 2020, it has been operating a transformer plant in Memphis, Tennessee, and this Memphis plant is currently the only facility in the United States capable of designing and manufacturing 765 kV ultra-high-voltage transformers.

Hyosung Heavy Industries also signed a large-scale supply contract for 765 kV ultra-high-voltage transformers to the United States last year. On top of that, it has now secured this extra-large order early this year. Based on this, Hyosung Heavy Industries plans to further solidify its position as the overwhelming No. 1 in the U.S. 765 kV ultra-high-voltage transformer market.

A 765 kV extra-high-voltage transformer by Hyosung Heavy Industries installed on the U.S. transmission grid. Hyosung Heavy Industries

원본보기 아이콘

Furthermore, Hyosung Heavy Industries has a product lineup capable of supplying ultra-high-voltage circuit breakers up to 800 kV. The company expects to play a central role in U.S. 765 kV transmission network construction projects, going beyond simple equipment manufacturing to act as a total solution provider.

Chairman Cho played a major role in securing this order. He has built personal relationships with top executives in the U.S. energy and power sector, including U.S. Secretary of Energy Chris Wright, thereby enhancing the brand value of Hyosung Heavy Industries.

Chairman Cho acquired the Memphis plant in the United States and has steadily nurtured it. He has invested a total of 300 million dollars (about 440 billion won), and once the ongoing expansion is completed, the plant will have the largest production capacity in the United States.

Chairman Cho emphasized, "With the spread of AI and data centers, power infrastructure has now become a core industry directly linked to national security," adding, "Based on the Memphis plant of Hyosung Heavy Industries and our ultra-high-voltage technology, we must establish ourselves as an irreplaceable key partner in stabilizing the U.S. power grid."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.