Hyosung Heavy Industries to Establish First U.S. Ultra-High Voltage Circuit Breaker Production Base... Full-Scale Production Begins in October

Hyosung HICO Establishes Gas-Insulated Circuit Breaker Joint Venture with Quanta Subsidiary

Chairman Hyunjoon Cho Leads Formation of Joint Venture After Direct Meetings with Quanta Executives

Hyosung Heavy Industries is making a decisive move into the U.S. power market by establishing a production base for ultra-high voltage circuit breakers in partnership with Quanta, the leading infrastructure solutions provider in the United States.

On June 14, Hyosung Heavy Industries announced that its subsidiary, Hyosung HICO, has signed an agreement with a subsidiary of Quanta, a North American energy infrastructure solutions company, to establish a joint venture named "Hyosung HICO BREAKER, LLC" for the production of gas-insulated circuit breakers (GCB).

The joint venture, which will be established in July, will begin producing ultra-high voltage circuit breakers ranging from 72.5kV to 800kV at Quanta’s Canonsburg plant in Pennsylvania starting in October.

Hyosung Heavy Industries' ultra-high voltage circuit breaker installed in the U.S. power grid. Hyosung Group

With the establishment of this joint venture, Hyosung Heavy Industries has become the first Korean power equipment manufacturer to secure both transformer and circuit breaker production capabilities in the United States. The company aims to respond to the increasing demand for power equipment in the U.S. driven by the expansion of data centers and artificial intelligence (AI), as well as the modernization of aging power grids, thereby securing a competitive edge in the supply chain.

The joint venture partner’s parent company, Quanta, is the largest design, procurement, and construction (EPC) specialist in the power and energy infrastructure sector in the United States. It has an extensive customer network across the U.S., serving utilities, power generation and energy storage system (ESS) providers, data centers, and the broader telecommunications and energy markets.

Hyunjoon Cho, Chairman of Hyosung, finalized the joint venture agreement during a meeting in the United States this March with Quanta’s CEO and key executives.

Chairman Cho stated, "The two companies have already built a strong partnership through collaboration on circuit breaker and substation facility supply, as well as transmission and renewable energy linkage projects. By leveraging our successful local operations in the U.S., including the Memphis plant, and the synergy from this joint venture, we will establish ourselves as a 'total solutions provider' in the U.S. power market."

Hyosung Heavy Industries is investing a total of 300 million dollars (approximately 440 billion won) in its Memphis plant, positioning it as a key driver in its strategy to penetrate the U.S. market. Upon completion of the current expansion, the company will possess one of the largest production capacities in the United States.

Meanwhile, earlier this year, Hyosung Heavy Industries signed a power equipment supply agreement worth 787 billion won with a leading U.S. transmission grid operator, marking the largest such contract ever for a Korean power equipment company and achieving strong results in the U.S. power market.

According to global market research firm Global Market Insights (GMI), the North American circuit breaker market is projected to grow at an average annual rate of 6.7%, expanding from 4.8 billion dollars (approximately 6.4 trillion won) in 2024 to 9.6 billion dollars (approximately 12.8 trillion won) in 2034.

This content was produced with the assistance of AI translation services.