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- Chairman Cho Emphasizes Power Infrastructure as Foundation of the AI Economy, Identifies Power Equipment as Next Growth Driver
- Hyosung Heavy Industries Signs Significant Power Equipment Supply Contracts Across North America and Europe
- Hyosung's Advances in High-Voltage Direct Current (HVDC) Technology Capture Global Attention
SEOUL, South Korea, Sept. 2, 2025 /PRNewswire/ -- Hyosung Heavy Industries is on track to deliver record results this year, with projected sales reaching KRW 5 trillion (approx. USD 3.6 billion) and operating profit topping KRW 500 billion (approx. USD 360 million) for the first time, driven by rising power demand linked to AI adoption. Industry observers point to the leadership of Chairman Cho Hyun-joon as a key factor driving this momentum.
Chairman Cho has identified the power equipment business as Hyosung Group's next growth engine, reaffirming the Group's commitment to maintaining a leading role in the global power equipment market.
- Power Infrastructure at the Heart of the AI Economy, Chairman Cho Emphasizes
Chairman Cho has consistently reinforced his view that "AI is transforming industries and daily life, and reliable power infrastructure has become ever more critical." He further noted, "To anticipate global customer requirements and respond to rapid market changes, Hyosung Heavy Industries must secure distinctive technological competitiveness to position itself as a critical supplier to the AI economy."
Despite a slowdown in the global power sector and strong competition from established European players, Chairman Cho has sustained investment in next-generation grid solutions, including AI-enabled smart factories. Since March of this year, he has been directly engaged as an internal director of Hyosung Heavy Industries, providing full strategic support and drawing on international networks to expand the company's footprint in new and emerging markets.
- Hyosung Heavy Industries Secures Major Power Equipment Orders in North America and Europe
These initiatives are delivering tangible results. Hyosung Heavy Industries has signed a series of high-value contracts across North America and Europe.
Hyosung Heavy Industries has become the first Korean manufacturer to enter into a long-term supply agreement for ultra-high-voltage transformers and reactors with leading German transmission system operators. In Scotland, Hyosung secured an order valued at KRW 85 billion to supply ultra-high-voltage transformers. It also concluded a long-term contract with French transmission operators last year and won additional orders earlier this year. Hyosung is strengthening its position in Europe, one of the most advanced power markets globally, through participation in the UK National Grid's large-scale phase-shifting transformer program and an ultra-high-voltage transformer project for Norway's state-owned utility.
Analysts also highlight the company's timely response to the U.S. power market, which has entered a strong growth cycle, by localizing production at an early stage. This year, Hyosung Heavy Industries won the largest single order for ultra-high-voltage breakers in the North American market and continues to secure additional contracts for advanced, large-capacity products such as 765kV ultra-high-voltage transformers and 800kV gas-insulated switchgear (GIS).
- Hyosung's Technological Competitiveness Brings Global Recognition for HVDC Localization
Hyosung Heavy Industries is accelerating the localization of high-voltage direct current (HVDC) transmission technology as it aims to lead the next phase of the global power market.
The company initiated development of a 200MW HVDC system in 2017 under the leadership of Chairman Cho. Despite financial headwinds at the time, Hyosung committed KRW 100 billion (approx. USD 72 million) to R&D over seven years, achieving the successful localization of a 200MW-class HVDC system in Korea last year—a first for the nation.
HVDC technology converts alternating current (AC) generated at power plants into direct current (DC) for efficient long-distance transmission, and then back it into AC for delivery to homes and businesses. While high-voltage alternating current (HVAC) has been the conventional method, HVDC is increasingly recognized for its superior efficiency in transmitting large amounts of power across long distances. The rise of advanced power semiconductors (IGBTs) and digital control systems has enhanced conversion and voltage management, underscoring HVDC's strategic importance.
Chairman Cho stated, "HVDC is not simply a transmission method—it is a cornerstone technology that will shape the future energy landscape." He added, "We are committed to positioning Hyosung Heavy Industries as a leading player in the global HVDC market."
Looking forward, Hyosung Heavy Industries plans to secure technology leadership through the development of 2GW-class HVDC systems. The company intends to strengthen its position in both domestic and international transmission network projects, demonstrating the capabilities required to lead in the next generation of power infrastructure.
- Chairman Cho Emphasizes Power Infrastructure as Foundation of the AI Economy, Identifies Power Equipment as Next Growth Driver
- Hyosung Heavy Industries Signs Significant Power Equipment Supply Contracts Across North America and Europe
- Hyosung's Advances in High-Voltage Direct Current (HVDC) Technology Capture Global Attention
SEOUL, South Korea, Sept. 2, 2025 /PRNewswire/ -- Hyosung Heavy Industries is on track to deliver record results this year, with projected sales reaching KRW 5 trillion (approx. USD 3.6 billion) and operating profit topping KRW 500 billion (approx. USD 360 million) for the first time, driven by rising power demand linked to AI adoption. Industry observers point to the leadership of Chairman Cho Hyun-joon as a key factor driving this momentum.
Chairman Cho has identified the power equipment business as Hyosung Group's next growth engine, reaffirming the Group's commitment to maintaining a leading role in the global power equipment market.
- Power Infrastructure at the Heart of the AI Economy, Chairman Cho Emphasizes
Chairman Cho has consistently reinforced his view that "AI is transforming industries and daily life, and reliable power infrastructure has become ever more critical." He further noted, "To anticipate global customer requirements and respond to rapid market changes, Hyosung Heavy Industries must secure distinctive technological competitiveness to position itself as a critical supplier to the AI economy."
Despite a slowdown in the global power sector and strong competition from established European players, Chairman Cho has sustained investment in next-generation grid solutions, including AI-enabled smart factories. Since March of this year, he has been directly engaged as an internal director of Hyosung Heavy Industries, providing full strategic support and drawing on international networks to expand the company's footprint in new and emerging markets.
- Hyosung Heavy Industries Secures Major Power Equipment Orders in North America and Europe
These initiatives are delivering tangible results. Hyosung Heavy Industries has signed a series of high-value contracts across North America and Europe.
Hyosung Heavy Industries has become the first Korean manufacturer to enter into a long-term supply agreement for ultra-high-voltage transformers and reactors with leading German transmission system operators. In Scotland, Hyosung secured an order valued at KRW 85 billion to supply ultra-high-voltage transformers. It also concluded a long-term contract with French transmission operators last year and won additional orders earlier this year. Hyosung is strengthening its position in Europe, one of the most advanced power markets globally, through participation in the UK National Grid's large-scale phase-shifting transformer program and an ultra-high-voltage transformer project for Norway's state-owned utility.
Analysts also highlight the company's timely response to the U.S. power market, which has entered a strong growth cycle, by localizing production at an early stage. This year, Hyosung Heavy Industries won the largest single order for ultra-high-voltage breakers in the North American market and continues to secure additional contracts for advanced, large-capacity products such as 765kV ultra-high-voltage transformers and 800kV gas-insulated switchgear (GIS).
- Hyosung's Technological Competitiveness Brings Global Recognition for HVDC Localization
Hyosung Heavy Industries is accelerating the localization of high-voltage direct current (HVDC) transmission technology as it aims to lead the next phase of the global power market.
The company initiated development of a 200MW HVDC system in 2017 under the leadership of Chairman Cho. Despite financial headwinds at the time, Hyosung committed KRW 100 billion (approx. USD 72 million) to R&D over seven years, achieving the successful localization of a 200MW-class HVDC system in Korea last year—a first for the nation.
HVDC technology converts alternating current (AC) generated at power plants into direct current (DC) for efficient long-distance transmission, and then back it into AC for delivery to homes and businesses. While high-voltage alternating current (HVAC) has been the conventional method, HVDC is increasingly recognized for its superior efficiency in transmitting large amounts of power across long distances. The rise of advanced power semiconductors (IGBTs) and digital control systems has enhanced conversion and voltage management, underscoring HVDC's strategic importance.
Chairman Cho stated, "HVDC is not simply a transmission method—it is a cornerstone technology that will shape the future energy landscape." He added, "We are committed to positioning Hyosung Heavy Industries as a leading player in the global HVDC market."
Looking forward, Hyosung Heavy Industries plans to secure technology leadership through the development of 2GW-class HVDC systems. The company intends to strengthen its position in both domestic and international transmission network projects, demonstrating the capabilities required to lead in the next generation of power infrastructure.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Hyosung Heavy Industries Strengthens Global Position in Power Solutions Under Chairman Cho Hyun-joon's Leadership
ANSHUN, China, May 23, 2026 /PRNewswire/ -- On May 21, at the Guizhou Anshun Tourism Development Conference, Mafengwo Travel Group officially launched three flagship "New Mountain Play" benchmark projects — Huangheying Water Cave, Lotus Ancient Cave, and Luoyang Glasswater Gorge — while jointly releasing the 2026 Anshun Mountain Outdoor New Play Playbook with the Anshun Municipal Bureau of Culture, Sports, Radio, TV and Tourism. By redefining mountain outdoor travel experiences through "new play," the initiative injects fresh momentum into Anshun's positioning as an international mountain tourism destination.
"Personalized travel is rising rapidly. Tourism is transitioning from a 'sightseeing economy' to an 'experience economy.' More than just 'having been there,' travelers today seek emotional value from scenic spots and related projects," said Chen Gang, Founder and CEO of Mafengwo, in a speech titled *Co-creating the Super Play Era of Mountain Tourism*. He noted that leveraging benchmark new-play projects such as Huangheying Water Cave, Lotus Ancient Cave, and Luoyang Glasswater Gorge, Mafengwo will work with Anshun to integrate "new play, new formats, new marketing, and new consumption" into a holistic innovation ecosystem for destination-wide play. Together, they aim to revitalize natural resources, energize industrial momentum, link rural revitalization, and jointly build Anshun into a national hub for new mountain play.
At a time when travelers are increasingly weary of "man-made check-in spots" and homogenized internet-famous projects, the newly launched projects abandon the old path of large-scale construction. Instead, they return to the wild itself, adopting a "light development, heavy experience" approach to create mountain plays that are "wild on the outside, refined on the inside." Huangheying Water Cave focuses on "natural wonders + interactive adventure," using its original "water-cave" karst features to create a genuine sense of "underground exploration." Lotus Ancient Cave, based on a massive natural cave, integrates "light ultimate" activities such as via ferrata, rappelling, and cave drop towers, allowing ordinary visitors to feel adrenaline-pumping "heart-racing moments" in a natural setting. Luoyang Glasswater Gorge follows the original river course, using natural elevation differences to design trails for hiking, canyoning, and waterfall rappelling, with minimal artificial construction, emphasizing the pristine "glass water" and an eco-harmonious, back-to-nature mountain experience.
At the "2026 Anshun Mountain Tourism New Play" sharing session, Mafengwo Travel Group and the Anshun Municipal Bureau of Culture, Sports, Radio, TV and Tourism jointly released the *2026 Anshun Mountain Outdoor New Play Playbook*. Ten selected plays in non-traditional mountain settings were featured, including "Night Tour of Dupo Tang — Immersive Journey into the World of Journey to the West," "Watch Intangible Cultural Heritage 'Spider-Man' Climb Cliffs for Bird's Nests," and "370-Meter Free Fall at Balinghe Bridge." These showcase how Anshun creatively uses its karst landscapes as a natural "amusement park" for mountain experiences.
He Weihong, Vice Mayor of Anshun, stated in his address: "In Anshun, the 'City of 21°C,' mountains are no longer just scenery to be viewed. They are living fields to be climbed, immersed in, jumped over, and breathed in. Anshun will take this conference as an opportunity to accelerate the internationalization of its mountain tourism and build a first-class mountain outdoor sports destination." During the event, Anshun Tourism Group also promoted its mountain outdoor travel routes.
By early 2026, the number of outdoor sports participants in China had exceeded 400 million, with participation in mountain hiking, trail running, rock climbing, and canyoning rising year by year. Driven by the dual trends of "nationwide fitness" and "pan-outdoor" activities, mountain play is moving from niche circles to the general public. Unlike the high barriers of traditional outdoor activities, Anshun's new plays target the blue ocean market of "light ultimate + strong experience + high shareability." Whether it's a "bridge bungee jump," checking out the natural wonder "Eye of the Great Sage," or experiencing a "Journey to the West fantasy" at night by Dupo Tang Waterfall — these activities are novel, beginner-friendly, and serve as natural content and social currency.
Anshun's mountain play innovation has also attracted international attention. Anouar, Chief Representative of the Tunisian National Tourism Office in China, noted in his speech that Anshun's innovation in integrating mountain tourism and sports is worth learning from for many international peers. He noted that Tunisia has diverse mountain resources across the country, with history embedded in the mountains and culture in the scenery — this is the unique charm of Tunisia's mountains. He looks forward to China-Tunisia cooperation to explore more mountain tourism opportunities and co-create new partnership models.
An international dialogue session brought together representatives from the Norwegian National Tourist Board, Visit Flanders (Belgium), and the Saudi Tourism Authority to discuss mountain outdoor tourism upgrade from a global perspective. The guests agreed that they were delighted to see that Anshun is not simply replicating a "Switzerland of the East" but is creating an entirely new "universal language of mountain tourism." The internationalization of mountain tourism is not about imitation but about excavating the unique narratives of local landscapes — with its green mountains and clear waters as the canvas and play innovation as the brush, Anshun is painting a vibrant new picture for the world.
A domestic dialogue session brought together frontier explorers, practitioners, and experts in mountain sports tourism to discuss the future development of mountain sports tourism from the perspectives of communities, products, and operations. Qin Chuan, Founder of Wanan Youth Travel, noted that with technological advancements and equipment iteration, more and more "outdoor novices" without professional training can enjoy the pleasures of the wild. Currently, Wanan Youth Travel is selecting and developing "super single products" and continuously improving service quality to deliver ultimate outdoor experiences to visitors.
After the conference, industry guests conducted on-site inspections of new play projects, including Lotus Ancient Cave, Dupo Tang Night Tour, Anshun Ancient Town, and Getu River. Wang Yu, Chief Representative of the Norwegian National Tourist Board in Greater China, remarked: "Anshun and Norway share many similarities. Anshun's new mountain plays emphasize 'light development, heavy experience.' Take Lotus Ancient Cave — it doesn't feel like a 'designed' scenic spot, but rather an extension of Anshun's natural mountain charm itself, an experiential field you can fully immerse yourself in. The scale of this 'light ultimate' experience is just right — thrilling enough, yet truly authentic."
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Light Ultimate, High Experience, Original Ecology, Personalization -- Mafengwo and Anshun Municipal Bureau of Culture, Sports, Radio, TV and Tourism Co-create New Forms of Mountain Tourism
Light Ultimate, High Experience, Original Ecology, Personalization -- Mafengwo and Anshun Municipal Bureau of Culture, Sports, Radio, TV and Tourism Co-create New Forms of Mountain Tourism
