HD Construction Equipment launched to grow global machinery business

South Korea-based construction machinery leader HD Hyundai has officially launched HD Construction Equipment following the merger of its two largest construction machinery units, HD Hyundai Construction Equipment and HD Hyundai Infracore.

The newly merged company held a launch ceremony at its Ulsan Campus on January 1, attended by around 200 executives and employees, including Chairman Chung Ki-sun, Vice Chairman Cho Young-cheul, and CEO Moon Jae-young. Moon will serve as the first chief executive of the merged firm.

The company has set a target to raise annual revenue to 14.8 trillion won (€8.74 billion) by 2030, up from approximately 8 trillion won (€4.73 billion) currently. Growth will be driven across its construction machinery portfolio while expanding engine and aftermarket operations. HD Construction Equipment plans to introduce next-generation models in North America this year, following launches in Korea and Europe, aiming to increase its global market share.

HD Construction Equipment also intends to position its Hyundai and Develon brands more competitively worldwide. Strategic priorities include strengthening its global production system, reducing overlapping product lines, and improving cost competitiveness by leveraging economies of scale in areas such as purchasing and logistics.

The company is developing its engine business, which spans power generation, defense, and environmentally friendly sectors. Compact equipment targeting advanced markets is also planned as a new growth driver.

Chairman Chung Ki-sun commented: “I hope HD Construction Equipment’s drive for excellence will carry over into next-generation models and the development of emerging markets. With a comprehensive overhaul across production, quality and sales, the company is expected to become another global No. 1 for the group, following shipbuilding.”

Discover how HD Construction Equipment plans to reshape global construction machinery markets with its merger strategy in the full story.

Photo credits to HD Construction Equipment’s LinkedIn