Foothold for Takeoff
Hyundai Construction Equipment Co. announced that it recently held a ceremony for completing its new office building for European business in Tessenderlo, a city located in northeastern Belgium, with 300 officials in attendance, such as Hyundai Construction Equipment President Kong Ki-young, Kim Hyoung-zhin, Ambassador of the Republic of Korea to Belgium / EU, Philippe Muyters, Flemish Minister for Work, Economy, Innovation and Sports, and Herman Reynders, Governor of Limburg Province.
With the site of 30,000 pyeong, or 99,174 square meters, the new office building is a three-story building in where about 100 employees can work at and has a large component logistics center, exhibition hall and education center. In particular, the component logistics center has more than doubled capacity so it is expected to contribute to the dramatic increase of component sales in Europe.
In addition, Hyundai Construction Equipment has expanded its education center by three times so that it can provide various programs to local dealers and customers. The company also plans to improve its brand awareness in the region through corporate social responsibility activities including support for local youth soccer teams.
Hyundai Construction Equipment President Kong Ki-young said, “The new office building will play a crucial role in strengthening our foothold in the European market. Based on it, we will make every effort to accomplish global sales of 7 trillion won (US$6.17 billion) and rank among the global top five by 2023.”
Meanwhile, Hyundai Construction Equipment, which has become an independent company after spinning off from Hyundai Heavy Industries in April, ranked second in terms of accumulated excavator sales in the South Korean market in the first half of this year and showed more than 30 percent growth in sales in emerging markets, such as India and Russia.