Chairman Hyun-Joon Cho's Proactive Investments Strengthen Hyosung Heavy Industries' Position as a U.S. Power Grid Total Solution Provider

• Anticipated U.S. power market growth, preemptively securing the Memphis manufacturing facility.
• Established local production systems for 765kV transformers and 800kV circuit breakers.
• Strengthened position as a core supply partner for the U.S. ultra-high-voltage power grid.

SEOUL, South Korea, Sept. 2, 2026 /PRNewswire/ -- As the U.S. power infrastructure market grows rapidly—driven by the spread of AI data centers and the replacement of aging power grids—the localization strategy proactively pursued by Hyosung Chairman Hyun Joon Cho is now delivering results.

Chairman Cho Hyun-Joon foresaw early on the growing importance of power infrastructure amid the rise of AI and has emphasized that "Hyosung Heavy Industries must become a game changer in the power infrastructure market that will drive the transformation of global industry."

To meet growing large-scale power demand from AI data centers and other sources, the United States is expanding its 765kV ultra-high-voltage transmission networks, which enable long-distance, high-capacity power transmission. Hyosung Heavy Industries currently holds nearly half of the U.S. market for 765kV ultra-high-voltage transformers and offers a full portfolio of ultra-high-voltage circuit breakers ranging from 72.5kV to 800kV.

Building upon its Memphis ultra-high-voltage transformer plant, the company recently established a local production base capable of manufacturing ultra-high-voltage circuit breakers up to 800kV. This comprehensive system enables Hyosung to directly manufacture and supply core power equipment for 765kV transmission networks within the United States, further reinforcing its standing as a core supply partner for the expansion of the U.S. ultra-high-voltage power grid.

Secured the Memphis plant ahead of the expansion of the U.S. power market

Chairman Cho Hyun-Joon determined that a U.S. production base would become the core of future competitiveness in the power market and decided in 2020 to acquire the ultra-high-voltage transformer plant in Memphis, Tennessee. Despite various concerns at the time, he judged that securing a local production base was necessary, considering the growth potential of the U.S. power market and the expansion capacity offered by the site's ample land.

Hyosung Heavy Industries has invested a total of $300 million (approximately KRW 440 billion) from the plant acquisition through three rounds of expansion and plans to expand production capacity by more than 50% compared to current levels by 2028. Once the expansion is completed, the Memphis plant will have the largest ultra-high-voltage transformer production capacity in the United States.

The Memphis plant is the only plant in the United States capable of producing 765kV-class ultra-high-voltage transformers. The 765kV ultra-high-voltage transformer is a power equipment product with high design and production complexity, and Hyosung Heavy Industries has maintained an unrivaled No. 1 market share in the U.S. 765kV ultra-high-voltage transformer market since the early 2010s.

From transformers to circuit breakers… Becoming a 'Total Solution Provider'

Hyosung Heavy Industries is further expanding its U.S. local production system through a joint venture with Quanta for ultra-high-voltage circuit breakers.

The company has established a joint venture with Quanta, a leading North American energy infrastructure solutions company, for ultra-high-voltage circuit breakers and is scheduled to begin local production this October. Through this, Hyosung Heavy Industries has become the first Korean power equipment company to possess production capabilities for both transformers and circuit breakers in the United States.

The establishment of the joint venture was led directly by Chairman Cho Hyun-Joon. He judged that a partnership with Quanta was necessary to respond to the expansion of the U.S. power market and drove the collaboration, meeting with Quanta's CEO and other key executives in the United States this March to reach a final agreement on establishing the joint venture.

Quanta holds a broad business base and customer network across power and energy infrastructure projects throughout the United States, including utilities, power generation, energy storage systems (ESS), and data centers. Hyosung Heavy Industries plans to combine its power equipment technology with Quanta's infrastructure solutions capabilities to expand collaboration in the U.S. market beyond supplying individual power equipment toward a broader range of power solutions businesses.

Chairman Cho Hyun-Joon emphasized, "The future of the power industry lies not only in equipment but also in the capability to comprehensively manage power flow, storage, and stability. Building on our standing in the North American market, we will firmly establish our position as the global No. 1 total solution provider."

Website: https://www.hyosung.com/en/

SOURCE HYOSUNG CORPORATION