Iljin Electric was strong in early trading on the 6th. The news that it won a large order for transformers in the North American data center market appears to have boosted investor sentiment.
As of 9:49 a.m. that day, Iljin Electric was trading at 75,000 won on the Korea Exchange, up 4,000 won (5.63%) from the previous session.
Iljin Electric said that it signed a contract to supply ultra-high-voltage transformers worth about 120 billion won for a large data center project to be built in Alberta, Canada.
Under the deal, Iljin Electric will deliver 21 ultra-high-voltage 245 kV (kilovolt) transformers starting in the first half of 2027.
Recently, the rapid growth of the artificial intelligence (AI) industry in North America has led to a surge in data center construction, expanding demand for high-efficiency, high-capacity power equipment.
As of the end of last year, the order backlog for the heavy electric institutional sector, which handles Iljin Electric's transformer business, reached about $1 billion (about 1.6 trillion won).