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On October 27, HD Hyundai Electric submitted a regulatory filing announcing an additional investment of 198 billion won to expand the second phase of the Cheongju power distribution complex, with the investment period running from November 1 to June 30, 2029. The expansion will add switchgear and distribution transformer production lines and introduce automated equipment to meet demand from large-scale power infrastructure such as AI data centers, and the company expects additional annual revenue of 250 billion won. Third-quarter results disclosed in the same period showed revenue of 1.1799 trillion won and operating profit of 284.5 billion won, up 18.5% and 15.1% year-on-year respectively. The investment plan is currently at the regulatory filing disclosure stage, with no subsequent progress reports yet.
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Oct 27
The Elec
HD Hyundai Electric Adds 198 Billion Won Investment in Cheongju Power Distribution Complex
On October 27, HD Hyundai Electric submitted a regulatory filing announcing an additional investment of 198 billion won to expand the second phase of its Cheongju power distribution complex, with the investment period running from November 1 to June 30, 2029. The expansion will add switchgear and distribution transformer production lines and introduce automated equipment to meet demand from large-scale power infrastructure such as AI data centers, and the company expects 250 billion won in additional annual revenue. Its third-quarter revenue was 1.1799 trillion won and operating profit was 284.5 billion won, up 18.5% and 15.1% year-on-year, respectively.