Hyosung Heavy secures 386.5 bln-won in deals from U.S. big tech firms amid chairman's AI push

SEOUL, Sept. 15 (Yonhap) -- Hyosung Heavy Industries secured 386.5 billion won in power transformer deals with two U.S. tech firms, as group chairman Cho Hyun-joon intensifies the company's AI infrastructure push. Hyosung Group will supply 765-kilovolt ultra-high-voltage transformers for an AI data center in the southern U.S. and 345-kV transformers for another facility in the north.

With U.S. electricity demand surging amid AI data center growth, the industry is entering a supercycle for the first time in 60 years. Cho aims for Hyosung to become one of the world's top three players within five years, offering integrated power solutions such as transformers, circuit breakers, HVDC, STATCOM, and energy storage systems.

The company has also launched a dedicated team to consolidate expertise in these areas. Hyosung is bolstering its local production base in North America, expanding its transformer plant in Memphis, Tennessee, and recently established a joint venture with Quanta to produce ultra-high-voltage circuit breakers. With 9.3 trillion won in cumulative orders in the first eight months of the year, Hyosung has outstripped its full-year order target of 8.4 trillion won.