Hyosung HICO to expand Memphis transformer plant with $51M investment

Hyosung HICO, Ltd announced an expansion of its U.S. manufacturing headquarters in Memphis, Tennessee, investing $51 million and creating 123 new jobs. The company is a subsidiary of South Korean Hyosung Heavy Industries and produces large power transformers.

“Hyosung HICO will invest $51 million and create 123 new jobs in Shelby County as part of its plans to expand operations at its transformer manufacturing facility.”tn.gov

• 1 source
• tn.govGovernor Lee, Commissioner McWhorter Announce Hyosung HICO, Ltd to Expand at U.S. Manufacturing HeadquartersMay 14, 2025

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