Hyosung HICO Expands U.S. Transformer Headquarters in Tennessee

Memphis, TN – Hyosung Heavy Industries’ U.S. subsidiary, Hyosung HICO, announced a $157 million expansion of its North American headquarters and transformer manufacturing facility in Memphis, Tennessee.

The project will increase the plant’s production capacity by 50 percent and create 240 new full-time jobs in Shelby County. The expansion marks the company’s third major investment in the Memphis site since 2007.

“This additional expansion reflects our shared success with the State of Tennessee and the strong partnership between our U.S. operations and our headquarters in South Korea,” said Jason E. Neal, President of Hyosung HICO.

Construction is expected to begin immediately, with the expanded facility slated to come online in phases through 2027.