# Iljin Electric to invest KRW 68.2B in ultra-high voltage transformer plant expansion

Iljin Electric will invest 68.2 billion won to expand its ultra-high voltage transformer plant in Hongseong, South Korea, with completion expected by October 2024.

- Type: Expansion
- Announced: 2023-09-08
- Where: Hongseong, Chungnam, South Korea
- Value: $51.0M (68.2B KRW)
- Starts operating: 31 Oct 2024
- Status: announced
- Products: ultra-high voltage transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Iljin Electric](https://endata.com/companies/27503.md)

## Sources

- [asiatoday.co.kr](https://www.asiatoday.co.kr/kn/view.php?key=20230908010004680), 2023-09-08: "Iljin Electric is investing 68.2 billion won to expand its ultra-high voltage transformer plant in Hongseong to accelerate growth in the global power transformer market."
- [yna.co.kr](https://www.yna.co.kr/view/AKR20230908061000003), 2023-09-08: "Iljin Electric is investing 68.2 billion won to expand its ultra-high voltage transformer plant in Hongseong to respond to increasing domestic and international transformer demand."
- [getnews.co.kr](https://www.getnews.co.kr/news/articleView.html?idxno=640745), 2023-09-08: "회사 측은 '국내외 변압기 수요 증가에 대응한 생산설비 증설'이라고 설명했다."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.