In January 2017, during his inauguration ceremony, Hyosung's Chairman Cho Hyun-Joon declared his determination to transform Hyosung into a market-driven enterprise that listens, takes pride in its technology, and consistently triumphs. As part of this mission, Hyosung is committed to becoming a listening enterprise by practicing the VOC (Voice of Customer) management approach, which Chairman Cho consistently emphasizes, with the belief that the customer holds all the answers. Hyosung places particular emphasis on VOC management, diligently uncovering customer needs and focusing its management capabilities on resolving these concerns. The company not only pays attention to its direct customers but also heeds the voices of its customers' customers (VOCC: Voice of Customer's Customer) and competitors (VOCO: Voice of Competitor), emphasizing a unified, strategic direction for enhancing customer value.

 

Since its establishment in 1962, Hyosung Heavy Industries has been a leading power equipment company that has grown in tandem with the development of domestic power grids. With world-class technical prowess that is recognized both domestically and internationally, the company has been concentrating on VOC management and attentively listening to customers. As a result, it has evolved into a global enterprise that plays a pivotal role as a core partner for power companies worldwide, boasting cutting-edge technology of the highest caliber. Additionally, Hyosung Heavy Industries has continuously invested in and pursued the development of sustainable technologies, even when environmental concerns were not widely recognized. As eco-friendliness has become a megatrend, the company has established itself as a pioneering enterprise by presenting sustainable technologies and solutions that align with environmental concerns.

 

Hyosung Heavy Industries has progressed alongside the development of domestic power grids, and is now making efforts in various fields to prepare for the future, respond to the impending climate crisis, and lead the era of low-carbon green lifestyles that reflect the megatrend of sustainability.

 

                                                  

 

Hyosung Heavy Industries as a Global Leader with Tailored Solutions for Clients

Hyosung Heavy Industries has become a leading domestic power equipment company through its 60-year history, walking alongside the development of the domestic power grid. Its commitment to VOC management has made it a pioneering enterprise on the global market. Hyosung has tailored solutions to the needs of domestic and international clients by heeding their voices.

 

Over the past half-century, Hyosung has been at the forefront of the domestic power transmission and distribution equipment industry by supplying essential products such as transformers, circuit breakers, and electrical equipment. The company has devoted its effort to developing ultra-high-voltage transformers and the world's first two-break 800kV GIS (gas-insulated switchgear). Thanks to Hyosung Heavy Industries’ commitment to the development of the nation's power infrastructure, the company has accumulated extensive know-how and now possesses the world's top technical prowess in the medium-voltage sector, a core component of industrial energy. Hyosung does not rest on its laurels of possessing the world's finest technical capabilities. The company also incorporates VOC management by listening to its customers' voices.

Since developing the nation's first ultra-high-voltage transformer, Hyosung has been committed to providing custom solutions for each country that conform to domestic technical standards as well as international standards such as IEC, ANSI, IEEE, NEMA, BS, JIS, and JEC. With products that cater to customers’ preferences for indoor and outdoor designs, capacity, and country-specific technical standards, the company offers individualized solutions to more than 80 countries. Moreover, leveraging its world-class technical expertise in the medium-voltage sector, which is a core component of industrial energy, Hyosung Heavy Industries has established itself as a global leader that offers tailored solutions alongside its cutting-edge technology. The company’s excellence in manufacturing extends to a variety of its products, including transformers, circuit breakers, motors, generators, gears, and industrial pumps, which have all received recognition for their exceptional quality.

 

  

 

Hyosung Heavy Industries' Technology Perfectly Aligns with Eco-friendly Megatrends

As environmental concerns continue to rise, eco-friendliness has become a major trend. Renewable energy sources have gained attention due to the climate crisis, and the global trend of energy transition and the development of eco-friendly equipment to address environmental issues have become common challenges in the medium-voltage sector. The power market is now being restructured around renewable energy. Hyosung, having long prepared for changes in the power industry and the eco-friendly energy market, already possesses the core technologies necessary for building next-generation power grid systems, such as energy storage systems (ESS), STATCOM, and Smart Grid. These core technologies are essential for ensuring stable and sustainable supply and demand of eco-friendly energy, especially for promoting and commercializing renewable and hydrogen energy sources.

 

STATCOM is a solution that controls reactive power in transmission lines, enhancing the safety and quality of the power system. By offering tailored designs and after-sales management, STATCOM boasts advantages in capacity, cost-effectiveness, and eco-friendliness for various customers. Hyosung Heavy Industries holds the world record for the largest capacity for a single substation with its state-of-the-art, high-efficiency MMC (Modular Multilevel Converter) technology. Additionally, the company was the first in Korea to successfully develop a voltage-sourced HVDC (High Voltage Direct Current transmission) system using this technology. This allows for easy expansion of the system’s capacity and voltage levels, enabling customized designs to reflect customers' diverse needs. It also reduces maintenance costs, requires a small area for converter installation, and can be linked with metropolitan areas or offshore wind power systems that require limited land.

 

During renewable energy generation, instability due to weather conditions can hinder effective power usage. However, STATCOM enhances the stability of power transmission and resolves the instability caused by unavoidable weather conditions during renewable energy generation, such as wind and solar power. Energy storage systems (ESS) are essential solutions for renewable energy-based power systems, as they increase the flexibility of the power grid by storing electricity with high volatility. In addition, direct current transmission systems such as MVDC and HVDC are known to quickly connect renewable energy to the power grid and ensure high efficiency and stability. All these technologies are the result of Hyosung's attentive consideration of customers' needs. As society moves towards an electric era based on clean energy, Hyosung Heavy Industries' ability to build stable power grids will continue to attract even more attention.

 

  

 

Hyosung Heavy Industries Recognized as a Company Implementing Low-Carbon, Green Growth

Hyosung Heavy Industries was awarded the prestigious Carbon Management Honors, which is given to companies that achieve the highest ratings in the CDP (Carbon Disclosure Project) assessment. The company received an A- rating from CDP, a global organization for carbon information disclosure, signifying the company’s commitment to implementing low-carbon green growth. The Carbon Management Honors award is a testament to Hyosung Heavy Industries' proactive approach in preparing for the low-carbon era and its dedication to core values such as Voice of Customer (VOC) and ESG management in the pursuit of sustainable development.

 

Hyosung Heavy Industries is at the forefront of the hydrogen economy, with the plans to construct a hydrogen plant in Ulsan, Yongyeon in 2021, establish a liquid hydrogen plant in 2023, and expand hydrogen refueling stations. Additionally, the company aims to produce green hydrogen through the construction of offshore wind power plants. However, the company's focus is not limited to hydrogen; it is also investing in the development of eco-friendly products in the power sector, such as energy storage systems (ESS), eco-friendly transformers, and eco-friendly circuit breakers, in preparation for the low-carbon era. Hyosung Heavy Industries has signed an MOU with Korea East-West Power Co.  to jointly develop and demonstrate a distributed zero-carbon power generation system that integrates the advantages of solar power generation, hydrogen engine generation, ESS, and water electrolysis equipment. Through this process, the company aims to secure flexible resources that can contribute to power system safety by complementing the output volatility of renewable energy with a hydrogen engine generator.

 

Hyosung Heavy Industries has been growing alongside the domestic power grid for over half a century and has gained global recognition for the technical expertise it has accumulated in the development of power grids. Building on this expertise, the company focuses on renewable and eco-friendly energy sources, with sustainable development as its goal. To achieve this, Hyosung Heavy Industries is dedicated to listening to customers' needs, providing customized solutions, and constantly innovating through technology development that considers eco-friendliness and sustainability, with VOC and ESG management as its core values.

 

In response to the global economic and energy crises brought about by COVID-19 and the Russia-Ukraine conflict, as well as the climate crisis, Hyosung Heavy Industries is actively investing in research to achieve decarbonization and power grid innovation, which it considers its mission. The company aims to become a leader in global power grid innovation by anticipating customers' needs and providing them with a satisfying experience.