# Who does Hyosung Heavy Industries pay? Who are its key suppliers?
Canonical: https://valuechain.wiki/hyosung-heavy-industries · Facet: suppliers · Updated: 2026-07-12T03:50:49.742+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Hyosung Heavy Industries's confirmed suppliers/cost counterparties include Grain-oriented electrical steel (GOES, POSCO et al.) plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 2 cost edges, backed by 1 dated sources, 1 of them primary filings (as of 2026-07-12).

### 방향성 전기강판(GOES, 포스코 등) (high)  → /posco-holdings.md
- note: The real bottleneck of the transformer supercycle — grain-oriented electrical steel (GOES), the core of the transformer core, is bought mainly from POSCO plus Samdong and TC Materials. GOES supply is tight worldwide, itself a cause of long transformer lead times and the upstream constraint on Hyosung's cost and ramp speed, with high dependence on a few suppliers led by POSCO.
- [confirms] DART (Financial Supervisory Service) (KO, filing, published 2026-03-23) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260323001004: "Key steel material suppliers: POSCO, Samdong, TC Materials; steel prices move with global supply/demand."

### 멤피스 미국 생산기지 (HICO America) (high)
- note: The fix that turns the supercycle into revenue — Memphis, Tennessee is the only US plant that designs and builds 765kV, a localization base that lowers tariff, logistics and lead-time barriers at once. A $150M+ expansion roughly doubles capacity in 2026, accelerating conversion of the KRW 20tn backlog into actual revenue.
- [confirms] Seoul Economic Daily (EN) (EN, news, published 2026-05-01) https://en.sedaily.com/news/2026/05/01/korean-power-equipment-makers-clinch-record-orders-on-us: "Memphis is the only US plant able to make 765kV; expansion roughly doubles capacity."
- [confirms] DART (Financial Supervisory Service) (KO, filing, published 2026-03-23) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260323001004: "Major expansion of the Memphis UHV transformer plant ($157M); the only US 765kV production base."

### 전기동(구리)·전력부품 공급망 (mid)
- note: The second axis of the cost ratio — copper for transformer windings and busbars, plus bushings, insulating oil and electrical parts. Copper prices have risen on US copper-tariff issues and major mine disruptions, pressuring margins as backlog converts to revenue (diversified suppliers).
- [confirms] DART (Financial Supervisory Service) (KO, filing, published 2026-03-23) https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260323001004: "Copper prices rose on US copper-tariff issues and worsening mine supply."

Reverse side: https://valuechain.wiki/hyosung-heavy-industries/customers.md · Ripple: https://valuechain.wiki/hyosung-heavy-industries/ripple.md

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Full node: https://valuechain.wiki/hyosung-heavy-industries.md · JSON: https://valuechain.wiki/hyosung-heavy-industries.json