Korea Joongang Daily
Korea JoongAng Daily

Hyosung Heavy Industries secures $540 million ultra-high-voltage transformer contract in U.S.

Hyosung Heavy Industries has clinched a $540 million contract with an undisclosed major U.S. transmission grid operator to supply ultra-high-voltage transformers and reactors, the company said Tuesday.

2026-02-10

Hyosung Heavy Industries to invest $157M to double capacity at Memphis transformer plant

Hyosung Heavy Industries said Tuesday it will invest $157 million in its Memphis high-voltage transformer plant in Tennessee to more than double the factory's production capacity by 2028.

2025-11-18

Power equipment makers post big Q3 earnings on AI boom

Korean power equipment makers continued to post strong earnings in the third quarter, driven by booming demand for high-voltage transformers and data center infrastructure amid a global AI investment surge.

2025-10-23

Supreme Court approves suspended prison sentence for Hyosung chief

The Supreme Court on Thursday upheld a lower court's suspended prison sentence for Hyosung Group Chairman Cho Hyun-joon, seven years and nine months after he was indicted for embezzlement and other charges.

2025-10-16

Samsung, Hyosung, Hyundai attend Trilateral Executive Dialogue in Japan

Top business leaders from Korea, U.S. and Japan gathered in Tokyo this week for the Trilateral Executive Dialogue, a forum for economic cooperation, to discuss supply chain risks surrounding China and ways to strengthen trilateral collaboration.

2025-10-15

In this ‘cool’ industry, Hyosung juices up high-voltage push in the U.S.

As energy demand soars in the United States, Hyosung Heavy Industries is moving to power up domestic production as it brings its expertise and capabilities to the country.

2025-09-22

Hyosung Heavy Industries breaks ground on new Changwon factory for HVDC transformers

Hyosung Heavy Industries broke ground Wednesday on a new factory at its Changwon complex to produce high-voltage direct current (HVDC) transformers, marking a major push into next-generation power transmission.

2025-07-30

Kakao founder and three others summoned in probe involving ex-first lady

Special counsel Min Joong-ki’s team investigating former first lady Kim Keon Hee has summoned four prominent business figures for questioning, including tech giant Kakao founder Kim Beom-su.

2025-07-14

Special counsel investigates Kim Keon Hee's ties to IMS Mobility amid financial misconduct allegations

A special counsel investigation is zeroing in on the former first lady Kim Keon Hee's alleged connection to a little-known tech firm, raising suspicions of influence peddling and covert financial gains.

2025-07-11

Chinese inverter security risks expose overreliance in Korea’s solar supply chain

The discovery of unidentified devices in Chinese-made solar inverters in the United States has fueled tighter scrutiny in Korea — where most solar power components are imported from China — due to its heavy import reliance on its neighbor.

2025-05-30