Elpowertech to build new factory in Hwaseong > Press release

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Transformer manufacturer Elpowertech (CEO Choi Seong-kyu) is building a new factory in Hwaseong Bio Valley, Gyeonggi Province. Elpowertech CEO Choi Seong-kyu recently met with reporters and said, “We invested about 15 billion won to create a 16,000㎡ site in the Bio Valley Industrial Complex,” and “We plan to start construction around June and complete the new factory with a floor space of 9,000㎡ within the year.” Elpowertech’s new factory is three times the size of its existing Hwaseong factory. The new factory will produce general oil-immersed transformers, dry-type transformers, and transformers for export. In particular, the new factory will mass-produce eco-friendly switchgears, which are currently under development as new items. CEO Choi said, “We are developing a 25.8kV eco-load switchgear to enter the KEPCO switchgear market,” and “We plan to actively target both the domestic and export markets.” Elpowertech has set a goal of growing into a company with sales in the 100 billion won range within the next five years by strengthening its business portfolio and improving management. The company made a soft landing in the Japanese market in 2006 with its large-capacity inverter special transformer (VVVF; Variable Voltage Variable Frequency), standing tall as a solid company. It transformed into an export-oriented company by winning the $5 million export tower award in 2011, and is expanding its sales channels in overseas markets such as Japan, Southeast Asia, and the Middle East with just one transformer. CEO Choi Sung-kyu was also selected as the ‘Innovation Leader Leading Korea’ in 2011. He is determined to make a leap forward as a comprehensive heavy electric equipment company by completing the distribution line portfolio while newly entering the switchgear market. CEO Choi emphasized, “If we do not continuously develop niche markets and overseas markets, we will inevitably be eliminated,” and “We will not spare any investment in improving the quality of our products and strengthening their reliability.” Reporter Song Se-jun 21ssj@electimes.com Written: Wednesday, March 30, 2016 16:03 Posted: Wednesday, March 30, 2016 16:03 [This post was copied from the press release (Korea) by the top administrator on 2022-08-25 11:21:28]