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Newsletter N°85 - January 2026
🏗️ Construction: HD Construction Equipment Debuts After HD Hyundai Merger
HD Hyundai has officially launched HD Construction Equipment, created through the merger of HD Hyundai Construction Equipment and HD Hyundai Infracore. The launch ceremony was held on Jan. 1 at HD Hyundai’s Ulsan campus, attended by Chairman Chung Ki-sun, Vice Chairman Cho Young-chul, President/CEO Moon Jae-young, and around 200 executives and employees.
HD Hyundai Chairman Chung Ki-sun (second from left) and HD Construction Equipment President Moon Jae-young (third from left) pose for a commemorative photo with labor union officials at the HD Construction Equipment signboard unveiling ceremony held at HD Hyundai's Ulsan campus. (Photo courtesy of HD Hyundai)
By combining Korea’s top two construction equipment companies, the new entity becomes the country’s largest construction equipment manufacturer, with ~8 trillion won in annual sales and production bases in Ulsan, Incheon, Gunsan, plus overseas operations in India, China, Brazil, and Norway. The company plans to pursue growth across construction equipment, engines, and aftermarket (AM) while strengthening two brands, HYUNDAI and DEVELON, through integration synergies.
For 2026, HD Construction Equipment targets 8.7 trillion won ($5.9B) in revenue and 439.6 billion won in operating profit, while maintaining a longer-term ambition of 14.8 trillion won in sales by 2030. The strategy centers on re-optimizing global production for both brands, leveraging economies of scale in purchasing and logistics, and accelerating next-generation new models, already introduced in Korea and Europe, into North America in the first half of this year.
The company is also pointing to emerging-market traction: contracts in Ethiopia to supply 70 DEVELON 36-ton excavators plus 50 HYUNDAI 34-ton excavators, where HD Hyundai’s excavator share reached 80% last year. Additional wins include a Vietnam government order for 71 machines (including 20 20-ton wheeled excavators for disaster response) and 41 units in Kyrgyzstan (including 52-ton and 38-ton excavators) for road and building projects.