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Hyosung eyes global energy solutions market

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Published : 2014-08-27 20:45
Updated : 2014-08-27 20:45

Hyosung Corp. president Cho Hyun-joon said Wednesday that the company hopes to foray into the global market with its IT-based energy solutions.

“Hyosung has been recognized for its electricity business and the Internet of Things. By converging these two, the company expects to enhance its energy efficiency and global credibility,” Cho said while attending the Conseil International des Grands Reseaux Electriques, held in Paris. 
Hyosung Corp. president Cho Hyun-joon (left) talks to Frederic Salon, regional commercial vice president for the East Asia Pacific of ALSTOM, at the Conseil International des Grands Reseaux Electriques, which runs in Paris until Friday. (Hyosung Corp)

During the biannual international conference designed to share information and upcoming trends on electric power systems, Hyosung Corp. installed an exhibition booth to display high-tech electric power supply solutions such as static synchronous compensators, high-voltage direct current transmission and energy storage systems.

At the conference, a gathering of 250 companies and over 8,000 figures from power-related government bodies, gas and oil companies, and research institutions, Hyosung Corp. also presented four academic papers on its experience commercializing ESS and STATCOM.

“We are planning to become a leader in the global market as a total energy solutions supplier by capitalizing on big data,” Cho said.

On the sidelines of the conference, Cho held discussions on his firm’s expansion plans with high-ranking officials in the global power industry including French power generation firm ALSTOM’s regional commercial vice president for the East Asia-Pacific Frederic Salon and Power Grid Corporation of India chairman Rabindra Nath Nayak.

“Hyosung has grown into a total power solutions firm based on its cutting-edge electric power equipment that has helped integrate IT technology with existing hardware such as circuit breakers and transformers,” Nayak said.

By Park Han-na (hnpark@heraldcorp.com)