Hyosung Heavy Industries has developed what it describes as the world's first 22.9kV, 1.05MVA-class Solid State Transformer (SST), a power semiconductor-based system that precisely controls voltage and current while retaining conventional transformer insulation functions. The company said the 2022 development can connect directly to urban distribution networks and gives it an early position in an emerging market expected by global research firms to grow more than 40% annually. Hyosung is also expanding its U.S. power-equipment footprint, investing a total of $300 million to acquire and expand an ultra-high-voltage transformer facility in Memphis, Tennessee, and forming a joint venture with Quanta Services to produce 72.5kV to 800kV circuit breakers in Pennsylvania. Chairman Hyun-Joon Cho said AI and data-center growth has made power infrastructure strategically important, while the company aims to combine U.S. manufacturing with transformers, breakers, SST, Energy Storage Systems, STATCOM and HVDC technologies.