HD Construction Equipment

HD Construction Equipment
Co., Ltd.
Native name
에이치디건설기계 주식회사
TypePublic
KRX: 267270
IndustryHeavy equipment
Founded2017; 9 years ago (2017)
Headquarters
Seongnam
,
South Korea
Area served
Worldwide
ProductsConstruction equipment, engine
BrandsDevelon
Hyundai
ParentHD Hyundai
Websitehd-ce.com
Footnotes
[1]

HD Construction Equipment Co., Ltd. (HD CE; Korean: 에이치디건설기계 주식회사), formerly Hyundai Construction Equipment, is a South Korean construction equipment manufacturer. It is the largest construction machinery company in Korea, formed through the merger of Doosan Infracore and Hyundai Construction Equipment. The company markets its products under two brands: Develon and Hyundai.

History

HD Construction Equipment was established in 1985 as a construction equipment division of Hyundai Heavy Industries, a shipbuilding company, based in Ulsan.[2][3] In 2017, Hyundai Heavy Industries spun off its non-shipbuilding businesses, including electronics, robotics, and construction equipment, to enhance their competitiveness. As a result, Hyundai Construction Equipment was established as a separate company.[4] Following the parent group's rebranding in 2023, Hyundai Construction Equipment was renamed HD Hyundai Construction Equipment.[5]

In 2021, HCE's parent company acquired Doosan Infracore, which later became HD Hyundai Infracore, its largest domestic rival.[6] In 2026, the two construction companies within the same corporate group merged to form HD Construction Equipment. Despite the merger, the company continues to market products under both the Develon brand, inherited from HD Hyundai Infracore, and the Hyundai brand from HD Hyundai Construction Equipment. The merged company operates manufacturing facilities in Ulsan, Incheon, and Gunsan in South Korea and in India, China, Brazil, and Norway.[7][8]

References

  1. ^ "Annual Report". Financial Supervisory Service. March 18, 2026.
  2. ^ Shin, Hyon-hee (April 17, 2012). "Hyundai Heavy wins $120 million in orders for construction equipment". The Korea Herald.
  3. ^ Park, Jisoo; Choi, Youngseok (November 2014). "Economic Recession and Hyundai Heavy Industries - Strategies to Cope with the Risk Factors of Heavy Industry" (PDF). Korea Business Review. 18 (4). The Korean Academic Society of Business Administration: 81.
  4. ^ "Spun-off Hyundai Heavy unit aims to become world's top 5 construction equipment maker". Yonhap. Seoul. May 24, 2017.
  5. ^ Kim, Il-hwan (March 27, 2023). "Hyundai Doosan Infracore rebrands as HD Hyundai Infracore". Korea Economic Daily.
  6. ^ Nam, Kwang-sik (August 20, 2021). "Hyundai Heavy completes takeover of Doosan Infracore". Yonhap.
  7. ^ Na, Sang-hyeon (January 1, 2026). "HD Construction Equipment launches after merger of Korea's two largest machinery firms". Korea Joongang Daily.
  8. ^ Ko, Dong-hwan (Jan 1, 2026). "Newly merged HD Construction Equipment aims for $10.3 bil. in sales by 2030". The Korea Times.
  • Official website
  • Business data for HD Construction Equipment:

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