SEOUL — The race to build South Korea’s next-generation power grid has officially shifted into high gear. At the "Elecs Korea 2026" exhibition held in COEX, the nation’s leading power equipment manufacturers—Hyosung Heavy Industries, LS ELECTRIC, and Iljin Electric—unveiled a suite of high-tech solutions aimed at clinching the 5 trillion won (approx. $3.7 billion) "West Coast Energy Highway" project.
The project, scheduled to commence in 2028, is a massive government undertaking designed to transmit renewable energy from the southwestern Jeonnam province to the industrial hubs of the Seoul metropolitan area.
The HVDC Breakthrough
At the heart of this competition is High-Voltage Direct Current (HVDC) technology. Unlike traditional Alternating Current (AC), HVDC allows for long-distance transmission with minimal energy loss, making it the "backbone" of modern green energy grids.
LS ELECTRIC: Having completed rigorous testing in collaboration with GE Vernova, LS ELECTRIC showcased a full lineup of HVDC equipment, including transformers, valves, and Static Synchronous Compensators (STATCOM). Their focus is on high-level insulation technology, essential for stabilizing voltage fluctuations in DC systems.
Hyosung Heavy Industries: Taking a "Patriotic Tech" approach, Hyosung highlighted its status as the first domestic firm to develop HVDC transformers using proprietary technology. By maximizing the localization of core components, Hyosung plans to win over evaluators by emphasizing ease of maintenance and contributions to the domestic industrial ecosystem.
Iljin Electric: Positioning itself as a "One-Stop Shop," Iljin is the only contender capable of vertical integration. They produce both the transformers and the ultra-high voltage subsea/underground cables. This allows them to offer a seamless system where cables and transformers are perfectly synchronized to minimize power loss.
A Springboard for Global Markets
Industry experts suggest that this domestic battle is merely a warm-up for the global stage. "The upcoming tenders in Jeonnam represent a monumental scale of investment," noted an industry insider. "Success here provides the track record needed to dominate the global HVDC market, which is seeing a surge in demand due to the global energy transition."
With billions of dollars and technological leadership on the line, the competition among the Big 3 is expected to be the fiercest in the history of the Korean power industry.
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