South Korea’s Hyosung Heavy Industries Corp. will supplement state-run utility firm Korea Electric Power Corp. (KEPCO) to upscale power generators through smart technologies.

The two companies signed a memorandum of understanding to utilize Hyosung’s asset management system (AMS) and KEPCO’s big data to strengthen a power equipment maintenance system and develop next-generation power facilities including unmanned substations.

Hyosung Heavy said its AMS would reduce power facility failure rate by up to 80 percent and cut maintenance cost by 30 percent. The company developed the AMS system for the first time in the country and commercialized it last year. The system has been used by various domestic companies including SK Energy, Posco’s Pohang steel plant and Electricidade de Mozambique, Mozambique’s state-owned energy firm.

“Hyosung aims to grow as a total power solution provider in the next-generation electricity market by incorporating big data-based information technologies into Hyosung’s power equipment manufacturing technology,” Hyosung Group Chairman Cho Hyun-joon said.

By Won Ho-sup and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]