Hyosung Chairman Cho Hyun-joon Secures $287M U.S. Orders in Global Top-3 Push

• Signs AI data center transformer contracts with two major U.S. tech companies in September
• Includes approximately $163 million in 765kV transformers and $124 million in 345kV transformers
• Chairman Cho Hyun-joon: 'A super cycle that comes once in 60 years... We will become a global top 3 within 5 years.'

SEOUL, South Korea, Sept. 15, 2026 /PRNewswire/ -- Hyosung Heavy Industries secured approximately $287 million in orders for ultra-high-voltage transformers from major U.S. tech companies in September alone. Hyosung Group Chairman Cho Hyun-joon's years-long efforts to build a localized U.S. production and solutions system are now beginning to deliver results.

Hyosung Heavy Industries announced on the 15th that it has signed supply contracts totaling approximately $287 million for ultra-high-voltage transformers with two major U.S. tech companies.

The ultra-high-voltage transformers ordered this time will be deployed at newly built AI data centers in the northern and southern regions of the United States. They consist of 765kV ultra-high-voltage transformers worth approximately $163 million and 345kV ultra-high-voltage transformers worth approximately $124 million, and will be supplied to data centers that consume enormous amounts of electricity.

This contract is the result of Hyosung Heavy Industries cementing its position as a "key partner" in the local power infrastructure market, including big tech companies, based on the high product reliability it has built up over the years.

Chairman Cho Hyun-joon: "A once-in-60-years super cycle... We will become a global top 3 within 5 years"

The major orders from U.S. tech companies validate Chairman Cho Hyun-joon's forward-looking strategy, meticulously prepared in response to the AI-driven shift in the power market.

Chairman Cho said, "In the AI era, demand for power infrastructure has exploded, ushering in a super cycle that comes once in 60 years." He added, "Based on the competitiveness of our 'total solution'—covering not only transformers and circuit breakers but also power stabilization systems such as HVDC, STATCOM, and ESS—we will make Hyosung Heavy Industries a global top-three player within five years."

Chairman Cho has been focusing on nurturing the data center and power infrastructure businesses in preparation for the AI era. In particular, he noted that global data center operators, including big tech companies, are seeking partners who can take responsibility for "stable power supply" and "rapid construction."

Chairman Cho has emphasized, "No matter how many data centers you build, they are useless without a power supply," and "We must develop the AI data center business, where Hyosung's overwhelming capabilities are fully concentrated, into the group's future growth axis."

The U.S. Tennessee ultra-high-voltage transformer plant acquired by Hyosung Heavy Industries in 2020 has now become a key base for taking the lead in the local supply chain. Once the ongoing expansion of the Memphis plant is completed, it will have the largest ultra-high-voltage transformer production capacity in the United States. In July, the company established a joint venture with Quanta, a leading North American energy infrastructure solutions company, for ultra-high-voltage circuit breakers—completing the hardware foundation for the "total solution" that Chairman Cho has championed, with local production capabilities for circuit breakers joining transformers.

In early September, the company also established a "Data Center Business Team," bringing together design personnel for power equipment such as transformers and circuit breakers, as well as stabilization solutions including ESS, microgrids, and STATCOM, into a single organization as part of its strategy to target the global data center market as a "one-stop partner."

Hyosung Heavy Industries Emerges as 'Partner of Choice' Amid Surging U.S. Data Center Power Demand

The United States, the world's largest power market, is seeing a sharp expansion of AI data center investment led by big tech companies. According to global investment bank Goldman Sachs, U.S. data center power demand is projected to grow at a compound annual rate of 15% through 2030, with approximately US$50 billion (KRW 66 trillion) expected to be invested in new power infrastructure to support this growth.

Hyosung Heavy Industries has held the No. 1 market share in the U.S. 765kV ultra-high-voltage transformer market since the early 2010s, and has supplied nearly half of all 765kV ultra-high-voltage transformers currently installed in the U.S. power transmission grid.

Beyond ultra-high-voltage transformers, the company has built an unrivaled product lineup ranging from 72.5kV to 800kV ultra-high-voltage circuit breakers. It is also seeing a significant increase in orders for STATCOM (Static Synchronous Compensator) systems—power stabilization equipment—positioning the company to continue playing a key role in the AI data center power infrastructure market, where investment is rapidly expanding.

Meanwhile, Hyosung Heavy Industries' new orders through August reached approximately $6.9 billion, surpassing last year's full-year order volume. The company has also raised its annual order target from approximately $6.2 billion to $8.9 billion.

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