Chung Kisun:
"Toward Becoming the Next Global Number One"
HD Construction Machinery, the largest construction equipment company in Korea, has officially launched to mark the new year.
On January 1, HD Hyundai announced that it held a launch ceremony for HD Construction Machinery at the HD Construction Machinery Ulsan Campus. The inaugural president is Moon Jaeyoung.
The ceremony was attended by key group executives, including HD Hyundai Chairman Chung Kisun, Vice Chairman Cho Youngcheol, and President Moon Jaeyoung, along with about 200 other executives and employees.
HD Construction Machinery, formed by the merger of Korea's top two construction machinery companies, HD Hyundai Construction Equipment and HD Hyundai Infracore, is the largest construction equipment company in Korea with annual sales of 8 trillion won. The company operates domestic production bases in Ulsan, Incheon, and Gunsan, as well as overseas sites in India, China, Brazil, and Norway.
On the 1st, key executives are applauding at the HD Construction Machinery launch ceremony held at the HD Construction Machinery Ulsan Campus. Photo by Yonhap News
HD Construction Machinery aims to achieve 14.8 trillion won in sales by 2030, pursuing growth strategies across all business areas-including its core construction equipment business, engines, and aftermarket (AM) services.
In particular, the company plans to leverage integration synergies to elevate its two construction equipment brands, 'HYUNDAI' and 'DEVELON,' to global top-tier status. To achieve this, it will establish a global production network for optimal manufacturing of both brands’ products and utilize economies of scale in shared cost areas such as procurement and logistics.
As the first step toward this goal, HD Construction Machinery will introduce next-generation new models. Following their launch in Korea and Europe last year, these next-generation models are scheduled for release in North America, the world's largest market, in the first half of this year.
Chairman Chung Kisun stated, "I hope HD Construction Machinery's passion for excellence will be channeled into the next-generation models and the pioneering of emerging markets. With a comprehensive overhaul of production, quality, and sales, I expect the company to become the group's next global number one, following in the footsteps of our shipbuilding division."
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