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HD Hyundai Co. is aiming to boost its brand identity, and to achieve this, it has decided to rename its subsidiaries. Moreover, the company is making this move to widen the exposure of its new name while also strengthening its brand identity as a company of the future.
HD Hyundai Co. operates many businesses in its home ground, South Korea. Its subsidiaries include companies in the field of construction equipment, shipbuilding, oil refining, and many more. Now it is planning to change their names to include the HD prefix.
According to The Korea Economic Daily, the plan of updating the names of the company’s major subsidiaries follows after Hyundai Heavy Industries Group changed its name to HD Hyundai earlier this year. The changes in the names are set to be finalized later this month at the regular shareholders’ meeting.
Sources shared that HD Hyundai is changing the name of its shipbuilding arm, Korea Shipbuilding & Offshore Engineering, to HD Korea Shipbuilding & Offshore Engineering Co. while the Hyundai Heavy Industries Co. and construction machine manufacturer, Hyundai Construction Equipment Co. would become HD Hyundai Heavy Industries Co., HD Hyundai Construction Equipment Co., respectively.
The company’s oil refining unit, Hyundai Oilbank Co., would be renamed HD Hyundai Oilbank Co., and its electric equipment producer, Hyundai Electric & Energy Systems Co., would be changed to HD Hyundai Doosan Infracore Co. and HD Hyundai Electric & Energy Systems Co.
On the other hand, Hyundai-Genuine’s name could be entirely changed, and one of the leading suggestions is HD Hyundai Site Solution Co. This name is being considered because it is said to reflect the business of providing various solutions in the construction machinery and industrial vehicles fields.
Finally, HD Hyundai may also change the names of Hyundai Mipo Dockyard Co. and Hyundai Samho Heavy Industries Co., although they are just affiliates. A company official said that nothing has been decided yet regarding the affiliates’ name change.
