Korean power equipment makers chase European market after North America wins

A 765kV ultra-high-voltage transformer made by Hyosung Heavy Industries, installed on the US transmission grid. [Hyosung Heavy Industries]

South Korea's major cable and power equipment makers are riding the momentum of a North American order boom to accelerate their push into the European grid market. The companies plan to expand their order territory by attending the world's largest grid technology event, to be held in Paris this month.

According to industry sources Wednesday, Hyosung Heavy Industries, HD Hyundai Electric, LS Electric, LS Cable & System and Taihan Cable & Solution will all participate in CIGRE 2026, the world's largest power grid technology event, running from Aug. 23 to 28 (local time) in Paris.

CIGRE is an international organization founded in 1921 to share the latest technology and research in the power sector; it holds a biennial conference and exhibition. This year's event is expected to draw more than 15,000 power industry professionals from over 100 countries. As the global power industry accelerates its shift toward clean energy, smart grids and digital transformation, demand for intelligent power infrastructure continues to grow — and the participating Korean firms plan to showcase their technological edge in these areas.

South Korean power equipment makers have rapidly built up their order backlogs, driven by North American big-tech companies expanding AI data centers and the need to replace aging grid infrastructure in the region. Having already demonstrated dominant performance in the North American market, the companies are now setting their sights on Europe as the next major battleground.

LS Cable & System and LS Electric will share a joint exhibition booth, presenting innovations spanning HVDC, large-scale ESS, AI-based grid management and next-generation transmission and distribution solutions. The two companies plan to jointly showcase integrated power and cable solutions, highlighting the strengths of the LS Group.

Transformers undergo assembly at HD Hyundai Electric's smart transformer factory in Dong-gu, Ulsan. [HD Hyundai Electric]

Hyosung Heavy Industries will also make its European push with HVDC solutions and ultra-high-voltage transformers. HD Hyundai Electric plans to present power infrastructure solutions including ultra-high-voltage transformers and eco-friendly gas-insulated switchgear. Taihan Cable & Solution will exhibit its HVDC and ultra-high-voltage transmission solutions as well.

Europe is a promising market where investment in power infrastructure is expected to surge. About 40 percent of the EU's power grid consists of equipment more than 40 years old. According to global market research firm Mordor Intelligence, the European power market is forecast to grow at an average annual rate of around 5 percent from 2026 to 2031.

Korean companies that have tailored their sales efforts to local markets are also reporting a string of contract wins, a sign that Korean power equipment technology is gaining traction even in Europe's high-barrier market. Hyosung Heavy Industries, for instance, has focused intensively on the conservative Nordic market and secured roughly 200 billion won ($141 million) worth of power equipment contracts in the first half of this year alone.

LS Electric saw sales at its Spanish subsidiary rise about 21 percent year-on-year in the second quarter of this year, as it targeted grid replacement demand driven by the expansion of renewable energy in Europe. Taihan Cable & Solution signed a 65 billion won contract in June to supply an ultra-high-voltage cable system for a grid construction project in Scotland, bringing its total new orders from the United Kingdom in the first half of this year to around 100 billion won.

keg@heraldcorp.com