South Korea’s Iljin Electric Expands Globally with Major Overseas Deals
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Iljin Electric has secured approximately 100 billion won (around $69.86 million) in new overseas orders over the past month, marking its first entry into both the U.S. West Coast and European markets.
The South Korean power equipment manufacturer won an order for a 500-kilovolt ultra-high-voltage transformer in California, expanding beyond its previous East Coast operations. Additionally, Iljin Electric secured a 132-kilovolt transformer project for a UK data center, its first European contract. The company also confirmed a 132-kilovolt gas insulated switchgear (GIS) project in Saudi Arabia.
These wins come amid a global surge in demand for high-spec transformers, driven by AI data centers and renewable energy expansion. Industry leaders in South Korea, such as HD Hyundai Electric and Hyosung Heavy Industries, have already reported record performances, and Iljin Electric's recent contracts show its growing presence in this competitive market.
In the first half of 2025, the company's total orders reached 785.3 billion won (USD 548,6 million), up from 696 billion won (USD 486,2 million) in the previous year. Overseas orders for power equipment alone totaled 256 billion won (USD 178,8 million), achieving 66% of last year's total international sales. With a 1.33 trillion won order backlog and a recently expanded Hongseong plant, Iljin Electric is positioned to meet increasing global demand.
Source: businesskorea.co.kr
