Hyosung's high efficiency electric motors cut CO2 emissions, protect environment

Hyosung is leading national efforts to reduce CO2 emissions and energy consumption. The move comes as the nation as a whole as well as companies are urgently required to save energy amid high oil prices.

Hyosung ranks first in market share in the area of industrial electric motors. The Company developed high efficiency electric motors in 1985, and has been exporting them to the U.S. and elsewhere, as it spearheads the market by banking on superior technology and know-how. High efficiency motors are highly sought after in the market, with their sales jumping 30 percent year on year. The use of high efficiency motors increases the efficiency more than standard motors, and thus reduces carbon dioxide emissions, while improving the environment. In addition, it increases the efficiency of electric power, and thus cuts energy losses, effectively killing two birds with one stone.

If all standard electronic motors currently in use are replaced with high efficiency motors, a total of 3.4 million tons of CO2 emissions can be reduced, which translates into 147.7 billion won (based on European standard prices of carbon emission rights). The value of saved energy amounts to 1.37 trillion won. Hence, the government is providing incentives and subsidies to users to propagate the use of high efficiency motors.

Moreover, a new system that requires minimum efficiency for high efficiency motors was introduced in July. The government also aims to increase the market share of high efficiency motors to 70 percent by 2010 from the current 20 percent. As such demand for high efficiency motors will likely increase further.

Having developed high efficiency electric motors, the Company is stepping up efforts to develop premium motors that are even more efficient. The Company has established production plants for high efficiency electric motors in China and Vietnam, as it seeks to become one of the world’s top seven makers.