Hyosung Chairman Cho Hyun-Joon Aims to Make the Memphis Power Transformer Plant the Largest Transformer Factory in the U.S.
SEOUL, South Korea, Dec. 12, 2025 /PRNewswire/ -- Hyosung Heavy Industries announced that it will invest $157 million in its Power transformer plant located in Memphis, Tennessee, to expand Power transformer production capacity by more than 50% by 2028.
Total $300 Million Investment Makes the Plant the Largest Transformer Facility in the U.S.
Hyosung Heavy Industries' additional expansion follows the directive of Chairman Cho Hyun-Joon, who emphasized the need to establish a forward-looking operating framework that positions the company ahead of the curve in the AI-era power infrastructure market.
Hyosung Heavy Industries has invested a total of $300 million, including the acquisition of the Memphis plant and this latest third-phase expansion. With this additional investment, the Memphis Power transformer plant will hold the largest production capacity in the United States.
The Memphis plant is the only facility in the U.S. capable of designing and manufacturing 765kV Power transformers. The 765kV Power transformer, known for its high design and manufacturing complexity, significantly reduces transmission losses compared to existing 345kV or 500kV transformers.
Through this investment, Hyosung Heavy Industries strengthens its position as the operator of the largest Power transformer production facility in the U.S., enhancing both technological competitiveness and local production and supply capabilities—solidifying its position as a leading company within the global power equipment industry's Big Four.
The Outcome of Chairman Cho Hyun-Joon's Steadfast Leadership
Chairman Cho has viewed establishing a U.S. production base as a key driver of competitiveness in the future power infrastructure market, leading to the acquisition of the Power transformer plant in Tennessee in 2020. The decision reflected his confidence in the long-term growth potential of the U.S. power market and the expansive site capabilities of the Memphis facility, despite internal concerns regarding various risks at the time of acquisition.
Chairman Cho stated, "The future of the power industry lies not only in equipment, but in the capability to holistically manage power flow, storage, and stability," adding, "Based on our strengthened position in the North American market through this expansion, we will firmly establish our standing as a global total solutions provider."
This year, Chairman Cho met with numerous Silicon Valley IT leaders and key figures in the global energy sector—including U.S. Secretary of Energy Chris Wright, Qatar Minister of State for Energy Affairs Saad Sherida Al-Kaabi, Oracle CEO Safra Catz, and International Energy Agency Executive Director Fatih Birol—to engage in in-depth discussions on industry transformation and potential collaborations.
In particular, he met with Senator Bill Hagerty three times this year, including during the "Korea-U.S.-Japan Economic Dialogue" last October, maintaining close communication. He also met with Tennessee Governor Bill Lee and agreed to collaborate in making the Memphis plant a core hub for the North American power industry.
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Hyosung Chairman Cho Hyun-Joon Announces Major Expansion of Memphis Power Transformer Plant
Celebrating the Tournament's 50th Anniversary
HONG KONG, April 2, 2026 /PRNewswire/ -- Marriott Bonvoy, Marriott International's award-winning travel platform, today announced a renewed partnership with Hong Kong China Rugby (HKCR) to serve as an Official Partner of the Cathay/HSBC Hong Kong Sevens 2026. The partnership marks Marriott Bonvoy's return to one of the city's most iconic sporting events after previously partnering with the tournament from 2016 to 2019. The reunion also coincides with the 50th anniversary of the Hong Kong Sevens, celebrating five decades of world-class rugby, vibrant fan experiences, and the unifying power of sport.
The Cathay/HSBC Hong Kong Sevens 2026 will take place at Kai Tak Sports Park from 17 – 19 April 2026, bringing together the world's best rugby sevens teams and passionate fans from around the globe.
Building on its role as a Founding Partner of Kai Tak Sports Park, Marriott Bonvoy's return to the Hong Kong Sevens underscores the brand's enduring connection to Hong Kong's sporting heritage and commitment to inspiring travel through passion points like sport—empowering travellers to pursue what they love while connecting with a global community of fans.
"We are thrilled to return to the Hong Kong Sevens in its landmark 50th year," said Betty Tian, Managing Vice President, Customer, Greater China, Marriott International. "Shared passion for sport brings people together in powerful ways, uniting fans across cultures, generations, and geographies. As a lifelong travel partner, Marriott Bonvoy is proud to create experiences that bring fans closer to the energy of Hong Kong's most iconic events and to one another, turning meaningful moments into lasting memories for travellers at every step of their journeys."
Throughout the tournament, Marriott Bonvoy will elevate the fan experience with member-exclusive hospitality offerings and Marriott Bonvoy Moments™, providing members the opportunity to redeem their points for exclusive and VIP access to the tournament. Members can redeem points for full-day access to the Marriott Bonvoy Suite in Kai Tak Stadium, where curated food and beverage offerings will be served during the matches. Members can also look forward to surprise visits from legendary rugby players as arranged by Hong Kong China Rugby, bringing them closer to the sport they love.
"We are delighted to welcome Marriott Bonvoy back into the Hong Kong Sevens family," added Bryan Rennie, Executive Director, Commercial and Business Operations, Hong Kong China Rugby. "As we celebrate 50 years of rugby tradition, their renewed support underscores our shared commitment to creating world-class experiences that unite the sporting and hospitality communities."
About Marriott Bonvoy®
Marriott Bonvoy, Marriott International's award-winning travel platform, connects travelers to the people, places, and passions they love through an extraordinary collection of hotels and experiences worldwide. The platform features over 30 hotel brands and 10,000 destinations, including the largest collection of luxury offerings, distinctive boutique properties, premium home rentals, and more, providing renowned hospitality across the globe. With unrivaled access to the best in entertainment, culinary, sports, outdoor adventure, arts, culture, and more, Marriott Bonvoy offers transformative travel experiences that leave a lasting impression.
Marriott Bonvoy membership is free and unlocks unique benefits including the ability to earn points through travel and everyday activities, like purchases with co-branded credit cards. Members can redeem their points for free stays, experiences and more. Visit marriottbonvoy.com for more information and download the Marriott Bonvoy app here. Travelers can connect with Marriott Bonvoy on Instagram, TikTok, YouTube, and Facebook.
About Hong Kong China Rugby
About HKCR Established in 1952, HKCR is the governing body for rugby in Hong Kong and a full member of World Rugby and the Sports Federation & Olympic Committee of Hong Kong, China. Over the past 70 years HKCR has built a reputation in the international sports sector for innovation, excellence, community engagement and exemplary governance.
About the Cathay/HSBC Hong Kong Sevens
Established in 1976 and organised annually by Hong Kong China Rugby, the Hong Kong Sevens is the world's premier international sevens event. Since 1999, the Hong Kong Sevens has been a part of World Rugby's HSBC SVNS Series.
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Marriott Bonvoy Returns as an Official Partner of the Cathay/HSBC Hong Kong Sevens 2026
