This study aims to develop a 30 kHz/12 kW silicon carbide (SiC)/Si integrated hybrid power module (iHPM) for variable frequency drive applications, particularly industrial servo motor control, and, additionally, to theoretically and experimentally assess its dynamic characteristics and efficiency during operation. This iHPM integrates a brake circuit, a three-phase Si rectifier, and a three-phase SiC inverter within a single package to achieve a minimal current path. A space-vector pulse width modulation (SVPWM) scheme is used to control the inverter power switches. In order to reduce parasitic inductance and power loss, an inductance cancellation design is implemented in the Si rectifier and SiC inverter. The switching transients and their parasitic effects during a three-phase operation are assessed through an electromagnetic-circuit co-simulation model, by which the power loss and efficiency of the iHPM are estimated. The modeled parasitic inductance of the inverter is validated through inductance measurement, and the effectiveness of the simulated results in terms of switching transients and efficiency is verified using the experimental results of the double pulse test and open-loop inverter operation, respectively. In addition, the power loss and efficiency of the SiC MOSFET inverter are experimentally compared against those of a commercial Si IGBT inverter.