HD Hyundai Electric Wins More SK hynix Power Equipment Orders

What happened

According to industry sources on Oct. 26, HD Hyundai Electric began installing power equipment at SK hynix's new production facilities in Cheongju this month, primarily supplying extra-high-voltage switchgear and transformers to the P&T7 and Mask Fab facilities, which SK hynix is building to expand production capacity for HBM and other AI memory products. The company also secured orders for high-voltage switchgear and cast-resin transformers for support facilities at SK hynix's Y1 fab in the Yongin Semiconductor Cluster. Its current P&T7 project in Cheongju is scheduled to run through July 2027, while the Yongin project is expected to continue through December 2027. It previously supplied switchgear, transformers and GIS to major SK hynix facilities including M15 in Cheongju and M16 in Icheon. In August, SK hynix decided to invest 35.2 trillion won in its second Yongin fab, Y2, and 19.1 trillion won in its Cheongju M17 facility; it plans to complete four fabs in Yongin by 2033, and in June outlined plans to develop a new semiconductor cluster worth 400 trillion won in the Honam region. Separately, in July HD Hyundai Electric signed a long-term supply agreement worth up to 1.1212 trillion won with a global technology company, under which it will supply 553.9 billion won worth of distribution equipment and 567.3 billion won worth of power equipment to data centers the customer is building in North America, with deliveries beginning in 2028; it began construction of a second plant in Alabama in March and plans to increase its extra-high-voltage transformer production capacity by 50% by April 2027. Per FnGuide consensus, its third-quarter operating profit is estimated at 305 billion won, up 23.4% from a year earlier — a forecast, not an achieved result. The article states additional orders are expected as domestic investment accelerates amid a boom in AI semiconductors.

Impact and signal

Affected components and suppliers

Source and time

Source: The Elec · 10/26/2026 · View original source