Hyosung Heavy Industries
 | |
Native name | 효성중공업 |
|---|---|
| Company type | Public |
| Industry | Heavy Industries |
| Founded | 1962 as HanYoung Industrial Co., Ltd. |
| Founder | Cho Hong-jai, former Chairman of Hyosung Group |
| Headquarters | 119 Mapo-daero, Mapo-gu, Seoul, South Korea |
Key people | Woo Tae-hee (CEO) |
| Services | Power Solutions Electrical & Mechanical Solutions |
| Revenue | 4.3 trillion KRW (as of 2024) |
| 257.8 billion KRW (as of 2024) | |
Number of employees | 3,291 (as of 2024) |
| Parent | Hyosung Group |
| Subsidiaries | ChinHung International, Inc. Hyosung Goodsprings |
| Website | https://www.hyosungheavyindustries.com/en |
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.[1][2]
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.[3]
History
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.[4][5][2]
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.[6]
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.[7]
Business Areas
Power Solutions
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.[1][8][9]
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).[10]
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.[11]
Electrical & Mechanical Solutions
The company produces a range of motors from low-voltage small and medium-sized motors to high-voltage ultra-large motors, super-premium efficiency motors, BLDC motors, and Q-Class motors for nuclear power plants. In the generator sector, the company manufactures and exports power generation systems for ships, steam turbines, and water turbines, as well as MG-Sets for fuel rod control to overseas nuclear power plants. Major products include motors & generators (high-voltage motors, low-voltage motors, DC motors, special motors, commercial generators), industrial machinery systems (chemical equipment, gas charging stations), and gear solutions (gearboxes, geared motors).[12]
Sustainable Solutions
The company provides sustainable power equipment, power grid stabilization solutions, hydrogen energy, renewable energy, and digital solutions.[13][4]
Construction
Through ChinHung International, Inc., established in 1959, the company conducts building construction, SOC projects, and housing development. The company constructs residential buildings under the 'Hyosung Harrington Place' brand.[14]
Subsidiaries
- Chinhung International, Inc.
- Hyosung Goodsprings
- Gongdeok Gyeongwoo Development
- Wind Power Business Division
References
- ^ a b "Hyosung Heavy Industries hits W10tr in circuit breaker production". koreaherald.com. 27 November 2024. Retrieved 8 April 2025.
- ^ a b "Hyosung Heavy Industries Surpasses 10 Trillion Won in Circuit Breaker Production". businesskorea.co. Retrieved 8 April 2025.
- ^ 신재희 (2024-12-09). "[Who Is ?] 우태희 효성중공업 대표이사 사장". 비즈니스포스트 (in Korean). Retrieved 2025-04-08.
- ^ a b kwang Ahn, Jae. "Hyosung, Linde to create world's largest liquid hydrogen plant". kedglobal.com. Retrieved 8 April 2025.
- ^ "Industrial giant's roots tied to nylon products". koreajoongangdaily.joins.com. 2009-11-09. Retrieved 2025-04-08.
- ^ KwangTae, Kim (2020-04-28). "Hyosung to build world's largest liquid hydrogen plant | Yonhap News Agency". Yonhap News Agency. Archived from the original on 2025-03-26. Retrieved 2025-07-31.
- ^ "Hyosung Heavy Industries Corp. Company & People | 298040". Barron's. Retrieved 2025-04-08.
- ^ Joo-young, Hwang (2024-06-12). "Hyosung Heavy to ramp up output of power transfomers in Korea, US". The Korea Herald. Retrieved 2025-04-08.
- ^ Dong-il, Lee; Chang-hyo, Oh; Byung-wook, Min. "(CIGRE) 'Technopia of 765 kV Technology in Korea'". epnews.co.kr.
- ^ "Hyosung Heavy Industries Corporation (298040.KS)". finance.yahoo.com. Retrieved 8 August 2025.
{{cite web}}: CS1 maint: url-status (link) - ^ "효성, 국내 최대 전압형 HVDC 변압기 공장 신축…조현준 "기술주권 상징"". News1. 30 July 2025.
- ^ "스태콤·HVDC 등 신사업으로 위기 돌파 기존·신규제품군 해외시장 공략 '투트랙 전략'". electimes.com/news.
- ^ Choi, Jasmine. "Hyosung Dreams of 'Hydrogen City' with Addition of Material of Dreams to Its Hydrogen Ecosystem". businesskorea.co.kr/news.
- ^ "A mixed day for Hyosung as it faces antitrust probe, wins tax lawsuit - 매일경제 영문뉴스 펄스(Pulse)". Pulse (in Korean). Retrieved 2025-04-08.