Hyundai Doosan Infracore Changes Equipment Brand Name... Removes 'Doosan' from Company Name as Well

Excluding 'Doosan' After Incorporation into HD Hyundai Affiliates

[Asia Economy Reporter Kim Pyeonghwa] Hyundai Doosan Infracore has decided to use the brand name 'DEVELON' instead of Doosan (DOOSAN) for its construction machinery equipment. The company plans to remove Doosan from its corporate name through procedures within the first half of the year.

On the 18th, Hyundai Doosan Infracore held a press conference in Las Vegas, USA, a major market for construction machinery, to introduce the new construction equipment brand DEVELON. At the same time, the brand change was announced through official websites and social media channels in Europe, China, and domestically.

DEVELON is a compound word of 'Develop' and 'Onwards'. It embodies Hyundai Doosan Infracore's direction of ‘continuously moving forward toward the future through relentless innovation, changing the world with the best products and solutions.’

Since becoming a subsidiary of HD Hyundai in August 2021, Hyundai Doosan Infracore has been considering launching a new brand to secure new growth engines. With this brand change, the new brand DEVELON will be uniformly applied to construction machinery equipment introduced by the company in the future.

Cho Youngcheol, President of Hyundai Doosan Infracore, said, “We are contributing to achieving solid performance and establishing a synergy foundation in HD Hyundai's construction machinery division amid rapidly changing global business environments,” adding, “DEVELON will be Hyundai Doosan Infracore’s symbolic brand leading electrification and automation in the construction machinery market.”

Hyundai Doosan Infracore plans to release a ‘New Brand Showcase’ video containing the brand story and vision on YouTube by the end of next month. In March, the company will unveil actual equipment bearing the new brand name for the first time at ‘CONEXPO 2023’ held in Las Vegas, USA.

Meanwhile, Hyundai Doosan Infracore also plans to remove Doosan from its corporate name. The new corporate name will be finalized through the board of directors and shareholders' meeting within the first half of the year.