Hyundai Doosan Infracore rebrands as HD Hyundai Infracore

Hyundai Doosan Infracore Co., a construction and machinery subsidiary of HD Hyundai  Group, decided to rebrand itself as HD Hyundai Infracore, dropping "Doosan" from its name, just a year and a half after joining the group.

At its annual general shareholders meeting on Monday, the company's shareholders resolved to change the company name to HD Hyundai Infracore through an amendment to the articles of incorporation.

As a result, the company will no longer use "Doosan" in its name, following the launch of its new construction equipment brand "Develon" this year.

The name change aims to maximize synergy among HD Hyundai's three construction machinery subsidiaries--Hyundai Genuine, Hyundai Doosan Infracore and Hyundai Construction Equipment--and to strengthen the identity of being part of the HD Hyundai Group.

"With a new name and a new mindset, we will transform ourselves into a company that can represent the group on the global stage. We will introduce innovative products and services that customers demand, such as electrification, eco-friendly and unmanned technology," President Cho Young-chul of HD Hyundai Infracore said at the shareholders meeting.

In addition to Hyundai Doosan Infracore, all three HD Hyundai construction machinery subsidiaries will change their names through their annual general shareholders meetings this month.

Hyundai Construction Equipment Co. changed its name to HD Hyundai Construction Equipment Co. through its general shareholders meeting on March 22, and Hyundai Genuine plans to change its name to HD Hyundai Site Solution at its shareholders meeting on Tuesday.

Write to Ik-Hwan Kim at lovepen@hankyung.com