Cho Hyun-joon’s U.S. Power-Market Investment Pays Off... Hyosung Heavy Industries Wins 386.5 Billion Won Order from Big Tech

[Financial News] Cho Hyun-joon, chairman of Hyosung Group (Photo) has seen his expanded investment in the United States power market lead to orders from big-tech companies.
Hyosung Heavy Industries announced on the 15th that it had signed supply contracts worth a combined 386.5 billion won with two U.S. big-tech companies for ultra-high-voltage transformers for artificial intelligence (AI) data centers.
The ultra-high-voltage transformers secured in these orders will be installed at new AI data centers being built in the southern and northern United States. The contracts comprise a 220 billion-won 765-kV ultra-high-voltage transformer contract and a 166.5 billion-won 345-kV ultra-high-voltage transformer contract. The equipment will supply data centers that consume enormous amounts of electricity.
Hyosung Heavy Industries secured the major big-tech orders after strengthening its local production base and power-solutions business in the United States to meet rising demand for power equipment driven by the expansion of AI data centers. In the world’s largest power market, investment in AI data centers is growing, led by big-tech companies. According to global investment bank Goldman Sachs, U.S. data-center power demand is expected to grow by an average of 15% annually through 2030. Approximately $50 billion, equivalent to 66 trillion won, is expected to be invested in new power infrastructure to support this growth.
Cho said, “As demand for power infrastructure explodes in the AI era, a once-in-60-years supercycle has arrived. Based on our competitiveness across not only transformers and circuit breakers but also power-stabilization systems—including high-voltage direct current transmission (HVDC), static synchronous compensators (STATCOM), and energy storage systems (ESS)—we will make Hyosung Heavy Industries one of the global top three within five years.”
Cho particularly noted that global data-center operators, including big-tech companies, are looking for partners that can help secure stable power supplies and enable rapid construction. “Building a data center is useless if there is no power supply,” Cho emphasized. “We must develop the AI data-center business, which brings together Hyosung’s overwhelming capabilities, into a core future growth engine for the group.”
Meanwhile, the ultra-high-voltage transformer plant in Tennessee, United States, acquired by Hyosung Heavy Industries in 2020, has become a key base for leading the local supply chain. Once its ongoing expansion is completed, the Memphis plant will have the largest ultra-high-voltage transformer production capacity in the United States. In July, Hyosung Heavy Industries also established a joint venture with Quanta Services, a leading North American energy-infrastructure solutions company, to produce ultra-high-voltage circuit breakers locally. This completed its local production system for circuit breakers in addition to transformers. Earlier this month, the company established a “Data Center Business Team” that brought together in one organization the personnel responsible for designing power equipment, including transformers and circuit breakers, as well as stabilization solutions such as ESS, microgrids, and STATCOMs.

[email protected] Kim Mi-hee Reporter