Hyosung Heavy Industries Secures Record Order as Hyun-Joon Cho's U.S. Strategy Pays Off

SEOUL, South Korea, Feb. 12, 2026 /PRNewswire/ -- Under the strategic leadership of Hyosung Chairman Hyun-Joon Cho, Hyosung Heavy Industries has secured a record-breaking contract in the U.S. power market, marking the largest order in the company's history and underscoring its expanding role in U.S. grid modernization efforts.

Hyosung Heavy Industries recently signed a supply contract worth approximately USD 530 million with a major U.S. transmission grid operator for power equipment, including 765kV ultra-high-voltage transformers and reactors. This contract represents the largest single order ever awarded to a Korean power equipment manufacturer in the U.S. market.

In 2025, Hyosung Heavy Industries became the first Korean company to sign a "full-package" supply contract in the United States for power equipment, including 765kV ultra-high-voltage transformers and 800kV ultra-high-voltage GIS(Gas Insulated Switchgears); building on this achievement, the company has continued its streak of large-scale orders into the new year, further cementing its position in the U.S. 765kV segment. Beyond its role as an equipment manufacturer, Hyosung Heavy Industries is expected to play a leading role as a "Total Solution Provider" in the full-scale implementation of U.S. 765kV transmission grid construction projects.

Power demand in the United States is expected to increase by approximately 25% over the next decade, driven by the rapid expansion of AI data centers and the growing adoption of electric vehicles. To meet this projected increase in demand, major U.S. electric utilities are accelerating plans to construct 765kV transmission grids. The 765kV system enables long-distance delivery of large-capacity electricity while significantly reducing line losses compared to existing 345kV or 500kV systems.

Hyosung Heavy Industries currently supplies nearly half of the 765kV ultra-high-voltage transformers installed across the U.S. power grid and has maintained the largest market share in the U.S. 765kV ultra-high-voltage transformer market since the early 2010s. Leveraging its proven product reliability and technological excellence, the company has followed its large-scale supply contract in 2025 with this latest mega-order, further reinforcing its established position in the U.S. 765kV ultra-high-voltage transformer market.

The 765kV ultra-high-voltage transformer is a highly complex piece of power equipment that requires advanced high-voltage insulation technology as well as rigorous testing and validation processes.

Hyosung Heavy Industries established its U.S. subsidiary in 2001 and became the first Korean company to export 765kV ultra-high-voltage transformers to the United States in 2010. Since 2020, the company has operated a transformer manufacturing facility in Memphis, Tennessee, which is currently the only plant in the United States capable of designing and producing 765kV ultra-high-voltage transformers.

The company is also actively advancing efforts to localize talent development. Through partnerships with local technical colleges, Hyosung Heavy Industries is recruiting top talent and is committed to cultivating mid-level managers and executives through comprehensive career development and professional training programs.

This record-scale order was secured under the direct leadership of Hyosung Chairman Hyun-Joon Cho, reflecting the company's long-term investment strategy in the U.S. market and its sustained focus on ultra-high-voltage transmission infrastructure. Chairman Cho has strengthened Hyosung Heavy Industries' U.S. presence through ongoing engagement with federal, state, and industry stakeholders, including U.S. Secretary of Energy Chris Wright, U.S. Senator Bill Hagerty of Tennessee, Oracle Corporation Executive Vice Chair Safra A. Catz, GE Vernova CEO Scott L. Strazik, and Tennessee Governor Bill Lee.

"Driven by the expansion of AI and data centers, power infrastructure has become a core industry directly linked to national security," Chairman Cho stated. "Leveraging Hyosung Heavy Industries' Memphis manufacturing base and its ultra-high-voltage technology, we must establish ourselves as an essential long-term partner in ensuring the stability of the U.S. power grid."

SOURCE HYOSUNG CORPORATION