South Korea’s HD Hyundai is merging its two construction‑equipment arms—HD Hyundai Construction Equipment (Hyundai brand) and HD Hyundai Infracore (Develon brand)—to create a unified global giant, tentatively named HD Construction Equipment, effective January 1, 2026.
Under a share swap arrangement, each HD Hyundai Infracore (Develon) shareholder will receive 0.16217 shares in the surviving entity, with final approval expected at a September 16 extraordinary shareholders meeting following regulatory clearance.
The combined entity starts with a robust KRW 8 trillion (USD 6.1 billion) revenue base, aiming to grow to KRW 14.8 trillion (USD 11 billion) by 2030 through a strategy focused on agility, economies of scale, and enhanced tech capabilities.
Though unified under one corporate umbrella, the Hyundai and Develon brands and dealer networks—especially in North America—will continue to operate independently to preserve brand equity and customer relationships.
Strategic priorities include:
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Expanding product range from compact to ultra-large machines
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Boosting engine and aftermarket services
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Accelerating innovation in electrified and smart equipment
HD Hyundai XiteSolution CEO Cho Young-cheul calls it “a major milestone… driving sustainable growth and positioning us as a global leader”.
