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Hyosung Heavy Industries
Hyosung Heavy Industries Corporation (Korean: 효성중공업, 曉星重工業) is a South Korean heavy industries company specializing in power transmission and distribution solutions, transformers, construction and renewable energy. It is a subsidiary of Hyosung Group.
In 2024, the company reported a revenue of 4.3 trillion KRW. Its operating income stood at 257.8 billion KRW, while the total number of employees was 3,291.
Hyosung Heavy Industries was originally established in 1962 as HanYoung Industrial Co., Ltd. In 1969, it developed Korea's first 154kV extra-high-voltage transformer. The company was renamed as Hyosung Heavy Industries Corporation in 1977. Throughout the 1980s and 1990s, the company expanded its operations in power solutions and circuit breakers. In 2018, it was spun off from the Hyosung Corporation as an independent entity. Since 2019, the company has invested heavily in hydrogen energy and digital solutions to enhance its technological capabilities.
In 2020, Hyosung Heavy Industries signed a memorandum of understanding with Linde Group to cooperate on liquid hydrogen production, storage, and distribution. In 2024, the company announced the commercialization of a 100% hydrogen engine generator.
The company's headquarters is located in Seoul, South Korea. It also operates manufacturing plants in Changwon, South Korea. Additionally, the company has a global presence with locations in China, India, Vietnam and the United States.
Hyosung Heavy Industries has the highest cumulative market share in Korea's power transmission and distribution sector. The company produces power equipment including extra-high voltage transformers, extra-high voltage circuit breakers, and electrical components, while providing engineering, design, manufacturing, installation, testing, and maintenance services for power equipment.
Major products include power equipment (extra-high voltage transformers, distribution transformers, shunt reactors, extra-high voltage circuit breakers, switchgears, mobile substations), power systems (STATCOM, DC transmission and distribution systems, ESS, microgrids, solar power solutions), digital solutions (power equipment asset management solutions, preventive diagnostic systems), and welding solutions (arc welders, resistance welders).
In 2024, the company completed development of a 200MW ultra-high-voltage direct current (HVDC) transformer. The HVDC transformer manufacturing plant is scheduled to be built in Changwon, South Gyeongsang Province, and is scheduled for completion in 2027.
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Hyosung Heavy Industries
Hyosung Heavy Industries Corporation (Korean: 효성중공업, 曉星重工業) is a South Korean heavy industries company specializing in power transmission and distribution solutions, transformers, construction and renewable energy. It is a subsidiary of Hyosung Group.
In 2024, the company reported a revenue of 4.3 trillion KRW. Its operating income stood at 257.8 billion KRW, while the total number of employees was 3,291.
Hyosung Heavy Industries was originally established in 1962 as HanYoung Industrial Co., Ltd. In 1969, it developed Korea's first 154kV extra-high-voltage transformer. The company was renamed as Hyosung Heavy Industries Corporation in 1977. Throughout the 1980s and 1990s, the company expanded its operations in power solutions and circuit breakers. In 2018, it was spun off from the Hyosung Corporation as an independent entity. Since 2019, the company has invested heavily in hydrogen energy and digital solutions to enhance its technological capabilities.
In 2020, Hyosung Heavy Industries signed a memorandum of understanding with Linde Group to cooperate on liquid hydrogen production, storage, and distribution. In 2024, the company announced the commercialization of a 100% hydrogen engine generator.
The company's headquarters is located in Seoul, South Korea. It also operates manufacturing plants in Changwon, South Korea. Additionally, the company has a global presence with locations in China, India, Vietnam and the United States.
Hyosung Heavy Industries has the highest cumulative market share in Korea's power transmission and distribution sector. The company produces power equipment including extra-high voltage transformers, extra-high voltage circuit breakers, and electrical components, while providing engineering, design, manufacturing, installation, testing, and maintenance services for power equipment.
Major products include power equipment (extra-high voltage transformers, distribution transformers, shunt reactors, extra-high voltage circuit breakers, switchgears, mobile substations), power systems (STATCOM, DC transmission and distribution systems, ESS, microgrids, solar power solutions), digital solutions (power equipment asset management solutions, preventive diagnostic systems), and welding solutions (arc welders, resistance welders).
In 2024, the company completed development of a 200MW ultra-high-voltage direct current (HVDC) transformer. The HVDC transformer manufacturing plant is scheduled to be built in Changwon, South Gyeongsang Province, and is scheduled for completion in 2027.