Hyundai L&C targets US, India with premium finishing material

Hyundai L&C, South Korea’s Hyundai Department Store Group’s building materials unit, said on Tuesday that it will increase the proportion of overseas sales to 60% in five years with premium finishing materials such as synthetic marble and engineered stone.

The company's share of overseas sales exceeded 40% last year for the first time, up from 26% six years ago.

The export destinations grew from 30 to more than 50 over the same period.

Hyundai L&C plans to develop overseas markets with its HanStone brand, the number one engineered stone market in South Korea.

A primary strategy involves leading the overseas market expansion with the HanStone brand, currently Korea's top engineered stone market leader.

Engineered stone is a finishing material made by mixing and compressing 100% pure quartz and natural substances, then manufacturing it at high temperatures.

It has higher surface strength than natural stone, making it less susceptible to scratches and damages, and is also resistant to stains and corrosion.

In 2022, Hyundai L&C invested 50 billion won ($38 million) to install the second production line for HanStone in Sejong City.

The company has decided to target rapidly growing economies like India and China.

In the Indian market, which it entered in 2020, it sells high-quality synthetic marble Hanex.

Last month, Hyundai L&C also participated in various international building materials exhibitions in India, the US, and other locations.

Write to Ji-Hye Min at spop@hankyung.com