Shareholders Approve Merger Plan for HD Hyundai Construction Equipment and HD Hyundai Infracore… The New Entity, ‘HD Construction Equipment,’ to Launch in January 2026 as South Korea’s Leading Construction Equipment Company ▶ The merger plan received overwhelming approval, with 99.91% and 99.24% from shareholders at the respective extraordinary general meetings.   ▶ The merged entity will be named "HD Construction Equipment," with appraisal rights available until October 10.   ▶ "As South Korea’s leading construction equipment company, we aim to establish a new milestone in the construction equipment industry." The merger between HD Hyundai Construction Equipment and HD Hyundai Infracore has received approval at their extraordinary general shareholders’ meetings, leading to the establishment of a representative construction machinery company in Korea called ‘HD Construction Equipment.’  The approvals received were overwhelmingly positive, with 99.91% support at HD Hyundai Construction Equipment and 99.24% support at HD Hyundai Infracore. These meetings took place on the 16th at the Global R&D Center in Bundang and at HD Hyundai Infracore's headquarters in Incheon, respectively. Additionally, the name of the merged company has been confirmed as 'HD Construction Equipment.' An official launch is expected in January following a review period for appraisal rights that concludes on October 10. The merger was initially announced on July 1, with both companies aiming to enhance their market agility in response to ongoing global economic uncertainties and increasing competition. The goal is to secure future technological capabilities and improve cost competitiveness. Institutional Shareholder Services (ISS), the world’s largest proxy advisory firm, had recommended the approval of this merger. Additionally, major domestic credit rating agencies and reports from securities firms have shown a positive outlook on the potential synergies from the merger. The newly formed HD Construction Equipment aims to achieve sales exceeding KRW 14.8 trillion by 2030, positioning itself among the top global players in the industry. The company will focus on balanced growth across all business areas, including construction equipment, engines, and aftermarket services. Key strategies will include △strengthening fundamental competitiveness, △diversifying revenue streams, and △securing future growth through a unified decision-making process. An official from HD Hyundai’s Construction Equipment Division expressed appreciation to the shareholders for their confidence in the merger proposal, stating, “As Korea's leading construction equipment company, we will establish a new milestone in the development of the nation's construction equipment industry.”  

▶ Smart technologies, including ‘E-STOP’ and ‘Rollover Risk Warning,’ validated under the supervision of a French safety association. ▶ New technology verified, gaining credibility through demonstrations for major local construction companies. ▶ Expected to enhance brand credibility and attract new customers in Europe's top three construction markets. HD Hyundai Infracore attracted attention from the French government and construction industry with its next-generation model featuring ‘E-STOP’ emergency automatic braking technology. On the 14th, HD Hyundai Infracore announced that it successfully conducted a four-day field demonstration and smart safety technology showcase for its new DEVELON excavator in Compiègne, France, from the 8th to the 11th (local time). This demonstration was organized by OPPBTP, the leading organization in France for the prevention of risks in building and public works under the Ministry of Labor. It took place at the Seine-Nord Europe Canal project site and involved field validation of both basic operational performance and smart safety technologies using DEVELON equipment. Additionally, a demonstration of the smart safety technology was held for five local construction companies, including major French firms Bouygues and Eiffage. The new DEVELON excavator featured various smart safety technologies, including rollover risk warnings and 360-degree around-view monitoring. The E-STOP technology, which functions similarly to a vehicle's emergency braking system, particularly attracted interest from on-site operators and attendees at the event. E-STOP automatically halts the equipment when cameras and sensors detect people or objects within the work radius, helping to prevent accidents at construction sites. HD Hyundai Infracore plans to enhance the E-STOP technology and begin mass production with its integration into products starting next year. Through this demonstration, HD Hyundai Infracore directly showcased its technology to government and construction industry officials in France, one of Europe’s top three construction equipment markets, and received positive feedback. This is expected to strengthen brand credibility across Europe, where safety standards are high, and lead to the acquisition of new customers. According to market research firm Fact.MR, the European construction equipment market is projected to grow at a CAGR of 6%, reaching $355.5 billion (approximately 494 trillion won) by 2035, up from $198.5 billion (approximately 276 trillion won) in 2025. An HD Hyundai Infracore official stated, “We successfully showcased the smart safety technology of our DEVELON products in the European market, where safety regulations are stricter,” adding, “We will continue to develop technologies that enhance safety and efficiency on construction sites.” ■ Note The Professional Organization for Prevention in Building and Public Works (OPPBTP) in France was established in 1947 to address the high accident rate in the construction sector. Since 2022, it has been running the joint “Stop Collision” project in collaboration with the construction industry to prevent collisions between equipment and pedestrians. As part of this project, field demonstrations and technology showcases were conducted in partnership with HD Hyundai Infracore.  

A bird’s-eye view of HD Hyundai’s exhibition booth at Gastech 2025 in Milan, Italy   ▶ Participating in the world's largest gas exhibition from Sep 9-12 in Milan, Italy ▶ A total of 36 certifications received and multiple MOUs signed, presenting digital transformation and eco-friendly solutions HD Hyundai is set to unveil the future of sustainable gas carriers applied with eco-friendly, AI technologies at Gastech, the world’s largest gas exhibition.   Six affiliates — HD Korea Shipbuilding & Offshore Engineering, HD Hyundai Heavy Industries, HD Hyundai Mipo, HD Hyundai Samho, HD Hyundai Marine Solution, and HD Hyundai Electric — participate in the exhibition held in Milan, Italy, from September 9 to 12.   HD Hyundai Executive Vice Chairman Chung Kisun, along with executives and staff members from the Sales, R&D, and Engineering divisions, will introduce their eco-friendly technologies to major shipping companies and leading classification societies and present future strategies for the maritime industry.   During the exhibition, HD Hyundai is set to participate in a total of 36 events, obtaining technology certifications from global classification societies and signing multiple MOUs with major companies.   HD Hyundai will receive an Approval in Principle from classification societies, including DNV, for their next-generation gas carrier design. The design places the crew accommodation block at the forward section to maximize upper deck space, which allows for the installation of multiple wind-assisted propulsion systems to enhance fuel efficiency.   HD Hyundai will also be certified for AI-based solutions that improve fuel efficiency. HD Hyundai will receive AIP from the American Bureau of Shipping for VesselWise, a solution that autonomously optimizes equipment operation without crew intervention. They will also receive a Product Design Assessment for its AI-driven Cargo Handling Solution, a solution that optimizes the use of boil-off gas during voyages.   They are also collaborating to demonstrate an AI solution that helps respond to fire accidents on ships. HD Hyundai will sign a Memorandum of Understanding with Sweden's Consilium to integrate its AI-based integrated safety control solution with a ship’s existing fire detection system.   In addition, HD Hyundai will sign an MOU with Lloyd’s Register for a joint development project to convert an LPG carrier into an ammonia dual-fuel vessel.   “HD Hyundai possesses optimal technologies that not only comply with environmental standards but also maximize vessel performance,” an HD Hyundai official said. “Through continuous investment and innovation, we will lead the era of carbon-neutral shipping.”