Hyundai announces construction equipment merger, new Develon NA CEO

HD Hyundai, headquartered in Seoul, South Korea, will merge its construction equipment divisions to create a new company, tentatively named HD Construction Equipment, effective Jan. 1, 2026 (pending shareholder review). The merger will combine HD Hyundai Infracore and HD Hyundai Construction Equipment. The Hyundai and Develon brands will continue to coexist. The two companies currently operate independently in North America through distinct dealer networks. The independent brand and dealer network structure will remain in place.

“While this merger creates a more powerful global entity, we are committed to ensuring stability and continuity for our dealers and customers in North America,” says WH Kim, CEO of Develon North America. “Our dealers will continue to work with the same staff they do today, and the Develon and Hyundai brands will continue to be strong, independent forces in the market.”

The advantages of merging the two companies include the following:

• Providing greater price competitiveness through increased scale.
• Speeding up innovation in smart and electrified equipment.
• Enhancing supply chain efficiency and product quality.
• Expanding aftermarket support, including parts and service.
• Growing the product lineup, ranging from compact to ultra-large machines.
• Building on the growth of engine sales and aftermarket services.

There are more than 200 dealer locations in North America, dedicated to providing sales, parts and service support to customers.

New CEO of Develon NA

Woohyun (WH) Kim has been appointed CEO of Develon North America (HD Hyundai Infracore North America) and the Develon brand of heavy and compact construction equipment. Kim brings extensive experience in leadership, sales and finance to his new role.

“I look forward to building on our success in North America and growing the Develon brand,” Kim said. “We’ve made significant progress in recent years, changing the brand and expanding our construction equipment lineup. We will continue to grow with reliable and productive heavy and compact equipment, with the help of our more than 200 dealers in the United States and Canada.”

Most recently, Kim served as director of sales operation and programs for the brand. From January 2023 to December 2024, he was the director of commercial planning and sales operations. In that capacity, he helped lead sales planning, product management, financial planning and remarketing. Additionally, he was responsible for opening the new North American Customer Utilization Plant near Savannah, Georgia.

Kim’s career with Doosan and then HD Hyundai Infracore spans 25 years in sales, business management and human resources. His roles included sales and leadership positions in Seoul, South Korea; Dubai, United Arab Emirates; and Atlanta, Georgia. He began his career with Doosan in December 2001 as a human resources manager.