Hyosung Heavy Industries said it signed a contract with a U.S. power grid operator to supply power systems, such as 765kV ultra high-voltage transformers and reactors.
The deal, for about 787 billion won, represents the largest single order in the United States by a Korean company.
Hyosung Heavy Industries made the feat of wining the company’s biggest -ever order under the leadership of Hyosung Chmn. Cho Hyun-joon.
In 2025, Hyosung Heavy Industries became the first Korean company to strike a deal for a “full supply package contract”, encompassing power equipment, such as 765kV ultra-high-voltage transformers and 800kV ultra high-voltage circuit breakers, in the United States.
The company reconfirmed its dominant position in the U.S. 765kV ultra-high-voltage market by landing the latest order this year.
Of late, the United States is predicted to see power demand surge at an annual average growth rate of 25 percent in the next decade on the back of the construction of AI datacenters and the expanding of EVs.
Major power business operators are scrambling to build 765kV ultra-high-voltage power transmission networks to ensure a stable supply of large-sized power. The 765kV ultra-high-voltage power transmission networks are capable of transmitting larger capacity power over long distances and reducing transmission losses compared to 345kV and 500kV.
Currently, Hyosung Heavy Industries has supplied nearly half of the 765kV ultra-high-voltage transformers installed in the U.S. power grid.
In particular, the company has proved product reliability and technology power in the U.S. power market as it has ranked first in the U.S. 765kV ultra-high-voltage transformer market since the early 2010s.
Hyosung Heavy Industries, which won a large 765kV ultra-high-voltage transformer supply contract in 2025, has strengthened its No. 1 position in the U.S. ultra-high-voltage transformer market by landing the latest mega order.
The company has already secured an exclusive capability to supply 800kV ultra-high-voltage circuit breakers, on top of the 765kV transformers. Hyosung Heavy Industries, a total solution provider beyond a simple equipment maker, is expected to play a pivotal role in the U.S. 765kV transmission network buildup project market, which is expected to get a boost.
The 765kV transformers with high design difficulty degrees and high-voltage power insulation technology are required to undergo difficult testing and verification. In 2001, the company established a U.S. corporate entity and it became the first Korean company to export the 765kV transformer to the United States.
The company has been operating the Memphis transformer plant, established in 2020 — the sole facility in the United States capable of designing and producing the 765kV transformers.
Hyosung Heavy Industries’ plant in Changwon boasts the world’s top-level 765kV transformer production capacity. and the company has maximized its local production capacity by applying Korea’s same quality management knowhow and technology power to the Memphis plant.
A whole view of the Memphis ultra-high voltage transformer plant in the United States, owned by Hyosung Heavy Industries.
The company has built standardized systems encompassing procurement, design and production at the Memphis and raised efficiency, as it has done at the Changwon plant. It has been accelerating efforts to localize manpower development.
Hyosung Heavy Industries has secured gifted manpower in cooperation with technology universities in the region, and the company has been fostering mid-level managers and executives through the operation of career development and specialized educational programs.
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