Hyosung Heavy Industries Secures Record KRW 787 Billion Order for Ultra-High Voltage Equipment in US
Hyosung Heavy Industries has secured its largest ever order in the US, worth approximately KRW 787 billion, to supply 765kV ultra-high voltage transformers and reactors. This contract was signed with a leading US transmission grid operator and marks a significant achievement for the company, reaffirming its strong position in the US market. The order reflects the increasing power demand in the US, projected to rise by 25% over the next decade. The company has maintained a leading market share in the US since the early 2010s, supplying about half of the transformers currently installed in the transmission grid.
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Hyosung Heavy Industries has announced a record order worth approximately KRW 787 billion with a major US transmission grid operator for 765kV ultra-high voltage transformers and reactors. This order is the largest single project ever for a Korean power equipment company in the US market.
The demand for power in the US is expected to increase by approximately 25% in the next decade, prompting rapid development of 765kV transmission networks. Hyosung has supplied about half of the transformers in the US grid and has maintained a top market share since the early 2010s.
The company is expanding its role as a total solutions provider, enhancing its credibility through strategic relationships in the US energy sector. Hyosung's Memphis plant, acquired in 2020, serves as the only facility in the US capable of designing and producing these transformers. The company aims to establish itself as Korea's sole provider of total HVDC solutions by 2027.
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