ILJIN Electric

What ILJIN Electric does

ILJIN Electric is a South Korean publicly listed manufacturer (KRX:103590) headquartered in Hwaseong, Gyeonggi-do, operating across four divisions under a "Total Energy Solution Provider" positioning. The Heavy Electric Division manufactures UHV power transformers, SF6 gas-insulated special transformers, shunt reactors, gas-insulated switchgear (GIS), EHV circuit breakers, and integrated substation solutions for utilities and transmission system operators. The Cable Division produces extra-high-voltage transmission cables, power distribution cables, and power grid infrastructure solutions with full connection, laying, and installation services, while the Materials Division supplies SCR and aluminium ROD inputs to cable manufacturers. The Energy Solution Division complements the legacy hardware portfolio with Energy Storage Systems (ESS), Grid-Forming Modules (GFM), and Microgrid solutions for renewable integration and grid stability.

The company serves power utilities, transmission system operators, data center developers, and international infrastructure customers through a direct enterprise B2B sales motion. Revenue is generated primarily through project-based hardware sales of heavy electrical equipment, cables, and energy solutions, with international project contracts (e.g., a USD 333.2 million US high-voltage equipment deal, a 62.1 billion won Malaysia UHV cable contract, and an USD 88 million Canada data center transformer deal) representing a growing share of the order book. Pricing is negotiated on a project basis and not publicly disclosed.

ILJIN Electric is part of the ILJIN Group governed by ILJIN Holdings, with the ILJIN brand centrally managed and shared across affiliates including ILJIN Diamond, Alpinion Medical Systems, JTV, and ILJIN Hysolus. The company operates multi-plant manufacturing capacity (Hwaseong Plant 1 and Plant 2), with Plant 2 expansion specifically driving transformer output to support overseas orders growth. In 2025–2026 the company reported record profit and sales driven by North American grid replacement demand, AI data center buildouts, and Southeast Asian transmission infrastructure projects.

Name

ILJIN Electric

Legal name

ILJIN ELECTRIC (일진전기)

Website

https://iljinelectric.co.kr

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

ILJIN Electric is a South Korean publicly listed manufacturer of heavy electrical equipment, UHV power cables, cable materials, and energy storage/microgrid solutions, serving power utilities, transmission operators, and data center developers across Korea, North America, and Southeast Asia through project-based enterprise contracts.

Ownership category

akta.pro rank

Product category

Power Transmission and Distribution Equipment

NAICS

Power, Distribution, and Specialty Transformer Manufacturing (335311), Electrical Equipment Manufacturing (3353), Electrical Equipment Manufacturing (33531)

SIC

Power, Distribution & Specialty Transformers (3612), Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Substation Systems & Integration (EPC, Engineering, Protection, Commissioning) (IMAGAAAC)

akta.pro secondary industries

Substation EPC (AIS/GIS) & Switchyard Construction (EUAEABAC), Grid-Scale Power Conversion & Interconnection (PCS, Grid-Tie Inverters, Converter Stations) (IMAGAAAI), Industrial Material Handling & Warehouse Charging (forklift/AGV chargers, battery swapping) (IMAGAHAG), AC-DC Power Supplies (Industrial PSUs, DIN-rail, enclosed/open-frame) (IMAGADAA)

Keywords

• Power transformers
• High voltage cables
• Gas insulated switchgear
• Energy storage systems
• Substation equipment

Headquarters

HQ city

Hwasong

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Heavy Electrical Equipment Sales: One-time, project-based revenue from the sale of power transformers, special transformers, shunt reactors, GIS, HV/EHV circuit breakers, and integrated substations to power utilities and infrastructure customers.
2. Power Cable and Infrastructure Sales: Revenue from transmission and distribution cables, UHV cable laying/installation services, and power grid infrastructure solutions, often bundled with long lead-time project contracts.
3. Energy Solutions / ESS / Microgrid: Sales of Energy Storage Systems (ESS), Grid-Forming (GFM) systems, and microgrid solutions to utility, renewable, and grid stability customers.
4. International Project Contracts: Large, discrete overseas contracts including a 62.1 billion won UHV cable contract with a Malaysian institution and a USD 333.2 million U.S. high-voltage equipment contract. Revenue is recognized on a project basis with potential expansion through follow-on orders.
5. Materials (SCR / ROD) Sales: Sales of SCR and aluminium rod materials to power and communication cable manufacturers domestically and internationally.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

ILJIN Electric manufactures heavy electrical equipment for power generation, transmission, and distribution, including UHV power transformers, SF6 gas-insulated special transformers, shunt reactors, GIS/EHV circuit breakers, distribution equipment, and integrated substation solutions. The company also produces extra-high voltage transmission and distribution cables, cable materials (SCR and aluminium rod), and energy solutions such as ESS, grid-forming modules, and microgrid systems for power utilities, grid operators, and data center developers.

Product overview

ILJIN Electric operates as a diversified, multi-division industrial manufacturer rather than a single unified software product, presenting its portfolio as four parallel business divisions under a "Total Energy Solution Provider" positioning. The Heavy Electric Division supplies transmission and distribution equipment including Power Transformers, Special Transformers, Shunt Reactors, GIS (EHV Circuit Breakers), Distribution Equipment (HV/LBS Circuit Breakers), and Substation Integrated Solutions. The Cable Division delivers Extra High Voltage Transmission Cables, Power Distribution Cables, and end-to-end Power Grid Infrastructure Solutions. The Materials Division produces SCR, Aluminium ROD, and alloy wire inputs for the cable industry. The Energy Solution Division complements the legacy hardware portfolio with ESS (Energy Storage Systems), GFM (Grid-Forming Modules), and Microgrid solutions, positioning ILJIN as a full-stack provider across high-voltage equipment, cabling, materials, and modern energy systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Power Transformer Ultra-high voltage and power transformers designed for power generation, transmission, and distribution within the Heavy Electric Division, supplied to electric power utilities and grid operators as part of transmission and distribution equipment portfolios.
• Special Transformer (SF6 Gas-Insulated) Specialty transformers including SF6 gas-insulated transformers designed for specialized electrical applications within the Heavy Electric Division, used in compact, high-reliability substation installations.
• Shunt Reactor Shunt reactors offered as part of the Heavy Electric Division's transmission and distribution equipment lineup for reactive power compensation in high-voltage power systems.
• GIS (Gas-Insulated Switchgear) and EHV Circuit Breaker Gas-Insulated Switchgear and extra-high voltage circuit breakers for high-voltage power distribution and substation applications within the Heavy Electric Division.
• Distribution Equipment (HV/LBS Circuit Breakers) High-voltage distribution equipment including load break switches (LBS) and related circuit breakers for medium- and high-voltage distribution networks within the Heavy Electric Division.
• Substation Integrated Solution Integrated substation solutions bundling transformers, switchgear, and related equipment into turnkey power infrastructure projects within the Heavy Electric Division, delivered to power utilities and infrastructure customers.
• Extra-High Voltage Transmission Cables Extra high voltage (EHV) transmission cables for power transmission grid applications, supplied with comprehensive connection, laying, and installation services through the Cable Division to utilities and infrastructure operators.
• Distribution Cables (Power Cable) Power cables for power distribution networks, supplied by the Cable Division as a downstream offering alongside its extra-high voltage transmission cables.
• Power Grid Infrastructure Solutions End-to-end power grid infrastructure solutions within the Cable Division, complementing the transmission and distribution cable offerings with grid-scale deployment services for utility and infrastructure customers.
• Materials (SCR / Aluminium ROD) Specialized producer of rod materials for the power and communication cable industry, including SCR, Aluminium ROD, and aluminium/copper alloy wire, serving domestic and international cable manufacturers via the Materials Division.
• Energy Storage System (ESS) Energy Storage System offerings within the Energy Solution Division, supporting grid-scale and industrial energy storage applications for utilities, renewable developers, and grid operators.
• Grid-Forming Module (GFM) Grid-Forming Module products within the Energy Solution Division, supporting advanced grid stability and renewable energy integration for utility, renewable, and microgrid customers.
• Microgrid Microgrid solutions within the Energy Solution Division, enabling localized energy generation, storage, and distribution for commercial, industrial, and remote applications.

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Five partnerships are on record, tiered flagship and core.

• ILJIN HoldingsflagshipStrategic or Co-development PartnerILJIN Electric is part of the ILJIN Group (ILJIN FAMILY), with ILJIN Holdings listed as the flagship affiliate on the company website footer. The ILJIN brand is centrally managed and may only be used by ILJIN Group affiliates under ILJIN Holdings' management control, indicating a deep brand, governance, and strategic alliance relationship.
• ILJIN DiamondcoreStrategic or Co-development PartnerILJIN Diamond is listed as an ILJIN FAMILY affiliate on ILJIN Electric's official website, sharing the centrally managed ILJIN brand and group identity.
• Alpinion Medical SystemscoreStrategic or Co-development PartnerAlpinion Medical Systems is listed as an ILJIN FAMILY affiliate on ILJIN Electric's official website, sharing the centrally managed ILJIN brand and group identity.
• JTVcoreStrategic or Co-development PartnerJTV is listed as an ILJIN FAMILY affiliate on ILJIN Electric's official website, sharing the centrally managed ILJIN brand and group identity.
• ILJIN HysoluscoreStrategic or Co-development PartnerILJIN Hysolus is listed as an ILJIN FAMILY affiliate on ILJIN Electric's official website, sharing the centrally managed ILJIN brand and group identity.

Scale indicators9 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Hyundai Electric & Energy System: Korean manufacturer of transformers, switchgear, and rotating machinery. Directly competes with ILJIN in UHV power transformers, GIS, and substation integrated solutions for domestic and export markets, including Southeast Asia and the Middle East.
• LS Electric: Korean manufacturer of low- and medium-voltage switchgear, transformers, and power solutions. Overlaps with ILJIN's distribution equipment and substation product lines and shares the same domestic and Southeast Asian utility customer base.
• LS Cable & System: Korean power cable and electrical equipment manufacturer explicitly grouped with ILJIN Electric in industry coverage as a top-tier Korean supplier benefiting from the same data center / grid replacement demand. Operates overlapping UHV cable, power cable, and grid infrastructure product lines for utilities and hyperscalers globally.
• Taihan Cable & Solution: Korean power and communications cable manufacturer with overlapping EHV/UHV cable and grid infrastructure offerings. Competes head-to-head for North American and Middle East transmission projects and is similarly positioned to benefit from the global data center power infrastructure supercycle.
• Daewon Cable: Korean cable manufacturer explicitly named alongside ILJIN and LS Cable as a Korean supplier riding the AI data center / grid replacement export wave. Overlaps in UHV transmission cables and power distribution cable offerings.

Broad incumbents

• Nexans: European power cable manufacturer with significant UHV and HV transmission cable operations. Comparable to ILJIN's Cable Division for utility and data center customers globally, particularly in European and North American markets.
• ABB: Global electrification and automation incumbent with overlapping transformer, switchgear, and substation offerings. Competes with ILJIN in HV equipment globally and serves many of the same utility customers in North America and Southeast Asia.
• Prysmian Group: Global leader in power and telecommunications cables, including UHV submarine and land transmission cables. Directly comparable to ILJIN's Cable Division and competes for the same large North American and European grid infrastructure contracts.
• Siemens Energy: Global incumbent in grid technologies, transformers, and HV switchgear. Competes with ILJIN in UHV transformers, grid-forming technology, and substation solutions, and is publicly investing in capacity expansion that could pressure ILJIN's pricing power over time.
• Hitachi Energy: Global leader in transformers, GIS, and HV equipment headquartered in Switzerland. A larger, established incumbent competing with ILJIN's UHV transformer, GIS, and substation offerings globally and actively expanding capacity to address the same supply shortage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ILJIN Electric