The emergence of high-power semiconductor devices such as insulated-gate bipolar transistors (IGBTs) or injection-enhanced gate transistors (IEGTs) and gate-commutated turn-off (GCT) thyristors or integrated gate-commutated thyristors (IGCTs) enables large static converters to expand into utility and industry applications. For instance, a /spl plusmn/80 kV 50 MW HVDC transmission system based on a string of many IGBTs connected in series was commissioned in 1999. This paper describes the present status of large static converters, with focus on their applications to utility and industry. The applications discussed are: HVDC transmission system, UPFC, flywheel energy storage system, pumped hydro plant adjustable speed generator, active filters for power conditioning, and steel mill drives. The paper also describes their future prospects and directions in the 21st century, including the personal views and expectations of the author.