Photo courtesy of Hyosung Heavy Industries
The importance of next-generation power grid technologies capable of reliably supplying large amounts of electricity is growing as AI data centers proliferate and renewable energy generation expands. In particular, as renewable energy facilities and major power demand centers become geographically farther apart, high-voltage direct current (HVDC) transmission is drawing attention as a core technology for future power grids because of its advantages in long-distance, high-capacity transmission.
Hyosung Heavy Industries has pursued research and development to secure and localize core HVDC technologies since 2012 in order to respond proactively to these market changes. Hyosung Chairman Cho Hyun-joon has emphasized, “HVDC is more than a simple transmission technology; it is a core technology that will determine competitiveness in the future energy market,” adding, “We will provide unwavering support so that Hyosung can become a leading force capable of changing the landscape of the global HVDC market.”
The market for key equipment used in large-capacity voltage-source HVDC systems has long been dominated by a handful of global companies. Rather than relying on external technologies, Hyosung Heavy Industries focused on building its own capabilities. It began with a 20-MW-class voltage-source HVDC demonstration project in Jeju Province in 2012 and pursued development in stages. The company later developed major 200-MW-class equipment, including converter valves and control systems, in-house, applied it to actual power grids and accumulated operating experience.
More recently, the company has been expanding this technology to 2-GW-class large-capacity voltage-source HVDC systems based on its experience commercializing 200-MW-class systems. On the 10th, it was finally selected as a participating company in the valve and controller fields of Korea Electric Power Corporation (KEPCO)’s project to localize and demonstrate large-capacity voltage-source HVDC technology. This has given Hyosung Heavy Industries an opportunity to validate its independently developed key equipment on large-scale power grids. The company plans to build references that can support applications in major domestic and overseas projects.
The HVDC market itself is also expected to continue growing. According to a global market research firm, the global HVDC transmission market is projected to grow at an average annual rate of 7.2%, from $15.62 billion in 2025 to $22.07 billion in 2030. The market’s growth potential is increasing as rising electricity demand driven by AI data centers and renewable energy expansion coincides with the modernization of power grids.
Cho Hyun-joon said, “The competitiveness of the power industry going forward will be determined by solutions capable of controlling the entire power grid,” adding, “Based on total-solution capabilities encompassing high-voltage transformer and circuit breaker technologies, as well as power-stabilization systems such as HVDC, ESS and STATCOM, I will elevate Hyosung Heavy Industries to the global top three within five years.”
Hyosung Heavy Industries is also accelerating its global business expansion by leveraging technologies for power equipment and grid solutions, including HVDC. In the United States, it is developing its plant in Memphis, Tennessee, into a key production base for local power infrastructure. Driven in part by contracts with major U.S. technology companies this year, the company’s new orders had reached approximately 9.3 trillion won by August. It is also strengthening its technological competitiveness in Europe. At CIGRE Session 2026, held in Paris, France, last August, the company showcased its independently developed voltage-source HVDC technology and expanded technical cooperation with global customers. Building on the HVDC expertise accumulated in South Korea, Hyosung Heavy Industries is broadening its business opportunities in the global power infrastructure market.
A Hyosung Heavy Industries official said, “We plan to continue making the HVDC technologies we secured proactively a core pillar of our global business expansion and to further strengthen our total-solution capabilities encompassing high-voltage transformers, circuit breakers, HVDC, ESS and STATCOM in the global power infrastructure market, including AI data centers.”
Kim So-hyung, reporter compact@sportschosun.com
This article has been translated by GripLabs Mingo AI.