Frost & Sullivan, a research & consulting organisation, selected Hyundai Heavy Industries (HHI) as the “Power Transmission Equipment Company of the Year” in the Asia-Pacific region.

Every year, Frost & Sullivan confers the title to outstanding organisation based on the market share, growth, and leadership in the Asia-Pacific region.

HHI was awarded the title on the back of achieving more than 30% sales growth in Electro Electric Systems division despite the global economic crisis.

Previous winners of the award are Areva and ABB, receiving the title in 2007 and 2008 respectively.

HHI produces power transmission equipment such as transformers and switchgears and various electro-electric systems for export to 70 countries worldwide. HHI produced 500,000MVA in accumulated transformer output, and completed world’s largest transformer shop with 120,000MVA annual capacity in 2008.

“We will put on our spurs to expand in overseas markets with Asia-Pacific market leadership,” said an HHI official.

HHI’s Electro Electric Systems division has targets of 2.6 billion dollars in new orders and 2.8 trillion won in sales. New orders target is 15% higher and Sales target is 46% higher than last year’s performance. The division records 1.38 trillion won in sales and 1.55 billion in new orders in first half of this year.

About Hyundai:

Hyundai Heavy Industries (HHI), founded by the late Chung Ju-yung on March 23, 1972, wrote the first chapter of its shipbuilding history in June, 1974, by completing construction of the world's largest shipyard and two 260,000-dwt VLCCs all at the same time. A decade after its first delivery, the Hyundai Shipyard topped 10 million deadweight tons in aggregate ship production, and has maintained the leading position in the world shipbuilding market ever since. Hyundai Shipard's drive has mirrored the growth of modern Korean heavy industry, and its success has allowed it to expand into other heavy industry areas, ultimately leading to the formation of Hyundai Heavy Industries, an integrated heavy industry company.

The latest chapter of HHI's history began when it separated from the Hyundai Group in February, 2002. The independent establishment of the Hyundai Heavy Industries Group included taking over Hyundai Samho Heavy Industries and the Hyundai Mipo Dockyard.

Our vision is to become a "Global Leader" in the heavy industries sector. Three decades ago that vision was only a dream, but after transforming an empty stretch of beach into the world's largest shipyard, that dream has become a reality. Our vision is a vast bridge connecting "reality" and "future" and has ultimately allowed us to lead to our field. This vision is a part of the "Hyundai Spirit": Creative Wisdom, Positive Thinking, and Unwavering Drive.