Hyosung Heavy secures $286.7 mil. in deals from US big tech firms amid chairman's AI push

Hyosung Heavy Industries Co. said Tuesday it has secured 386.5 billion won ($286.7 million) in power transformer deals with two U.S. technology companies as Hyosung Group Chairman Cho Hyun-joon step ups the group's push into artificial intelligence (AI) infrastructure. The Korean company will supply 765-kilovolt (kV) ultra-high-voltage transformers worth 220 billion won for an AI data center in the southern United States and 345-kV transformers worth 166.5 billion won for another facility in the northern part of the country. The latest contracts come as Hyosung Group expands its power equipment business amid surging U.S. electricity demand driven by the rapid growth of AI data centers. "With demand for power infrastructure surging in the AI era, the industry is entering a supercycle for the first time in 60 years," Cho said in a release. Cho said Hyosung aims to become one of the world's top three players within five years by providing integrated power solutions ranging from transformers and circuit breakers to power stabilization systems, including high-voltage direct current (HVDC), st