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HD Hyundai

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HD Hyundai Co., Ltd.
Native name
에이치디현대 주식회사
Company typePublic
KRX: 267250
Founded2017; 7 years ago (2017)
Headquarters
Seoul
,
South Korea
Key people
Kwon Oh-gap, Chung Ki-sun
SubsidiariesHD Hyundai Heavy Industries
Hyundai Samho Heavy Industries
Hyundai Mipo Dockyard
HD Hyundai Infracore
HD Hyundai Oilbank
Websitewww.hd-hyundai.com

HD Hyundai (Korean: HD현대) is one of the largest South Korean conglomerates engaged in shipbuilding, heavy equipment, machinery, and the petroleum industry.[1]

HD Hyundai started its shipbuilding business in a small village in Ulsan, South Korea, in 1972 and grew into a global heavy industries company. It is a major supplier in the heavy industries and energy sector, ranging from shipbuilding and marine engineering to oil refining, petrochemicals, and smart energy management businesses.

HD Hyundai rebranded its name of Hyundai Heavy Industries Group (HHI Group) to 'HD Hyundai' in 2022 to mark its 50th anniversary.[2]

Businesses

HD Hyundai operates three core businesses - shipbuilding, heavy equipment, and energy - through Korea Shipbuilding & Offshore Engineering (KSOE), Hyundai Genuine, and Hyundai Oilbank.[3]

Korea Shipbuilding & Offshore Engineering (KSOE) is a sub-holding company that controls the group's shipbuilding companies, including Hyundai Heavy Industries, Hyundai Samho Heavy Industries, and Hyundai Mipo Dockyard.[4]

Hyundai Genuine is another sub-holding company that oversees heavy equipment business, having Hyundai Doosan Infracore and Hyundai Construction Equipment as subsidiaries.[5]

Hyundai Oilbank is one of the four major oil refiners in South Korea, along with SK Energy, GS Caltex, and S-Oil.[6]

Controversies

Involvement in Israeli Settlements

HD Hyundai has come under criticism for sale of its excavators to Israel. Israeli forces have used excavators manufactured by HD Hyundai to destroy Palestinian homes and property in the West Bank. The BDS movement has called for a boycott of HD Hyundai along with Caterpillar Inc, JCB, and Volvo Group for being complicit in Israel's ethnic cleansing of the occupied Palestinian territories through the use of their equipment.[7]

Affiliates

The subsidiaries of HD Hyundai Group are as follows:[8]

Energy

  • Hyundai Chemical
  • Hyundai Cosmo
  • Hyundai Electric
  • Hyundai Energy Solutions
  • Hyundai OCI
  • Hyundai Oilbank
  • Hyundai & Shell Base Oil

Industrial

  • Hyundai XiteSolution
  • Hyundai Construction Equipment
  • Hyundai Infracore
  • Hyundai Robotics

Marine

Support and Service

  • Hyundai Engineering & Technology
  • Hyundai Global Service
  • Hyundai Heavy Industries MOS
  • Hyundai Heavy Industries Sports

See also

References

  1. ^ Nam, Kwang-sik (November 16, 2021). "Hyundai Construction Equipment to acquire whole stake of KSOE's overseas units". Yonhap. Seoul.
  2. ^ He-rim, Jo (2022-12-26). "Hyundai Heavy Industries renames itself HD Hyundai". The Korea Herald. Retrieved 2023-01-12.
  3. ^ Hwang, Jung-hwan (February 24, 2022). "Hyundai Heavy's holding firm changes name to HD Hyundai". Korea Economic Daily.
  4. ^ Nam, Kwang-sik (October 8, 2020). "Hyundai Heavy seeks to diversify business portfolio to sharpen competitive edge". Yonhap. Seoul.
  5. ^ Song, Gwang-sup; Lee, Eun-joo (July 28, 2021). "Hyundai Genuine sets off with Doosan Infracore under its arm". Maeil Business Newspaper.
  6. ^ "S. Korea's 4 refiners post record H1 operating profit". Yonhap. Seoul. August 15, 2022.
  7. ^ RTTNews, RTTNews. "Israel/OPT: Hyundai CE must end link with war crimes in Masafer Yatta". Amnesty International. Retrieved 4 January 2024.
  8. ^ "Business". HD Hyundai. Retrieved 20 August 2020.
  • Official website
  • Business data for HD Hyundai:
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