HD Hyundai has announced the merger of its construction equipment subsidiaries—HD Hyundai Construction Equipment (Hyundai brand) and HD Hyundai Infracore (Develon brand)—to form a unified entity tentatively named HD Construction Equipment, effective January 1, 2026, pending shareholder approval on September 16, 2025.
This calculated consolidation—via a share swap granting 0.162 shares in Hyundai CE for each Infracore share—aims to boost agility amid market volatility, lower costs, and accelerate technological advancement in electrification and smart machinery. The combined entity targets KRW 8 trillion (~USD 6.1 billion) in revenue upon launch, with ambitions to reach KRW 14.8 trillion (~USD 11 billion) by 2030.
Despite uniting, the new company will maintain a dual-brand strategy, continuing to market under both Hyundai and Develon, and expand across product lines—from compact equipment to ultra-large earthmovers. It also plans to diversify revenue via aftermarket parts, engine manufacturing, and enhanced R&D focused on electrified and autonomous solutions.
According to Jo Young‑cheol, CEO of intermediate holding company HD Hyundai XiteSolution, this merger is “a major milestone in advancing Korea’s construction equipment industry” and will position the company as a global heavyweight through economies of scale and cohesive operations
