The story
HD Construction Equipment was established in 1985 as a construction equipment division of Hyundai Heavy Industries, a shipbuilding company, based in Ulsan. 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.
Following the parent group's rebranding in 2023, Hyundai Construction Equipment was renamed HD Hyundai Construction Equipment.
In 2021, HCE's parent company acquired Doosan Infracore, which later became HD Hyundai Infracore, its largest domestic rival.
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.
From Wikipedia’s article on HD Construction Equipment, shared under CC BY-SA 4.0.4
