Hyundai Construction Equipment Aims High to Stand 5th Globally by 2023

Hyundai Construction Equipment spun off from Hyundai Heavy Industries last month, announced its take-off to become a global top five construction machinery specialist.

Hyundai Construction Equipment held the 'Brand Launching Ceremony' to introduce the company's visions and growth strategy at the '2017 Korea International Construction Machinery Expo (CONEX Korea)' held in the KINTEX, Goyang City, Gyeonggi Province on May 24.

Hyundai Construction Equipment introduced 'Vision 2023', which aims to achieve 5 trillion won in sales and claim fifth place in the global market through quality improvement and the development of new overseas markets by 2023 and took the wrap off its strategic products.

The strategic products target the Korean high-end market demanding high quality and high performance. The company greatly improved overall quality such as operability, ease of use and durability by ramping up the turning force of excavators 20%.

Hyundai Construction Equipment plans to expand its domestic market share from No. 2 to No. 1 this year based on the strategic products. The company plans to expand the application of information and communication technology (ICT) such as Hi-Mate 2.0, a mobile system that can accelerate the development of new mini excavators and remotely control engines and air conditioners.

Hyundai Construction Equipment expanded sales volume 91% in the Korean market in the first quarter of this year. Its global sales also increased 30% year on year.