The stock has surged 462.6 percent this year as of Tuesday, making it the top performer on a KOSPI that itself has jumped 72 percent year-to-date.
Hyosung Heavy manufactures core power-grid equipment such as extra-high-voltage transformers. Its share-price explosion is fueled by soaring global investment in electricity transmission infrastructure amid the artificial intelligence (AI) boom, which is driving unprecedented demand for stable, high-capacity power systems.
A major subsidiary of Hyosung Group, the company sits within a conglomerate founded by Cho Hong-jai, who once partnered with Samsung’s founder Lee Byung-chul. The group’s historical ties place Hyosung within Korea’s wider Samsung-origin family network.
Investors are increasingly betting on a stock split to make the seven-digit share price more accessible to retail traders. A split reduces the face value and multiplies the number of outstanding shares, lowering the trading price per share while preserving market capitalization. Samsung Electronics undertook a 50-for-1 split in 2018 when its shares exceeded 2.5 million won. Hyosung Heavy has received inquiries from shareholders but says no specific plan is under review.
Last Friday, Hyosung Heavy reported a preliminary consolidated operating profit of 219.8 billion won ($152 million) for the July–September quarter, up 97.3 percent from a year earlier. Eleven securities firms subsequently raised their target prices.
NH Investment & Securities and Hana Securities both set their targets at 3 million won per share. Based on current outstanding shares, this implies a market capitalization of about 27.97 trillion won.
NH Investment & Securities cited the company’s strong position in U.S. utility upgrades and tight supplier dominance, projecting improved profitability from rising North American and European demand. The firm raised its target from 1.5 million won to 3 million won.
Shinhan Investment & Securities offered a similar view, expecting the stock to reach 3 million won in the mid- to long-term. Researcher Lee Dongheon noted that despite U.S. tariffs, power-equipment margins widened sharply, and stabilization in the construction division supported record earnings. With North America’s backlog-to-sales ratio at high levels, profit momentum is expected to continue for years.
Hyosung Heavy’s meteoric rise reflects mounting confidence in grid-equipment suppliers as AI data centers, renewable energy transitions and power-intensive industrial clusters reshape global electricity demand.
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