AI Boom Sends Korean Power Equipment Producers’ Shares Surging
- HD Hyundai Electric up over five-fold in past year to record
- Demand from US expected to be high given aging systems
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Shares of South Korean electrical equipment makers are among the biggest winners in the country’s stock market this year, driven by an anticipated surge in power demand from artificial intelligence and data centers in the US.
HD Hyundai Electric Co., which manufactures power transformers, switchgear and generators, has risen nearly 160% this year, making it the top performer in the benchmark Kospi. Hyosung Heavy Industries Corp. has almost doubled, and LS Electric Co. jumped nearly 70% during the same period.