NEWS

HD Hyundai was awarded the Presidential Award during the 30th Business Innovation Awards ceremony held on December 7 at the Korea Chamber of Commerce and Industry (International Conference Hall) in the Jung-gu district of Seoul.

Celebrating its 30th anniversary this year, the Business Innovation Awards are organized by the Ministry of Trade, Industry, and Energy and hosted by the Korea Chamber of Commerce and Industry. The program is designed to promote innovation activities among companies, recognizing exemplary businesses that demonstrate leadership in management innovation and implementation of ESG management practices.

Following a comprehensive evaluation process including paper reviews, field evaluations, and thorough assessment initiated in July, HD Hyundai Construction Equipment, alongside 19 other companies, was acknowledged for its outstanding contributions to innovation and ESG management.

Earlier this year, HD Hyundai Construction Equipment declared “Comfort Intelligence” as the focal value to pursue in its digital transformation, encapsulated in a brand identity (BI) reflecting new innovation. The company translated such commitment into tangible outcomes through a diverse array of activities, and this award was given in recognition of these efforts.

In ESG management, the company received commendation for its strategic initiatives in transitioning to an environment-friendly business. These initiatives include △ setting a goal to increase the share of environment-friendly products in the company's total revenues to 97% by 2040, △ formulating a 2050 carbon neutrality plan for its global sites, △ aiming to achieve RE100 in its domestic business sites by 2025, △ successfully developing the alpha version of a hydrogen wheel excavator in 2021, △ creating a 1.9-ton mini excavator, and △ enhancing product quality through facility investments on behalf of partner companies, along with establishing an operating fund for them to utilize.

In the realm of digital transformation, the company is actively engaged in the following: △ Evolving towards AI robots through the innovation of digital products; △ Increasing customer satisfaction by reinventing digital services; △ Establishing smart factories based on digital twin technology; △ Enhancing work efficiencies through the utilization of a Big Data platform constructed using Palantir, and; △ Developing customer service programs enabled by AI technology.

"As a powerhouse in South Korea's heavy industry sector, we aspire to be recognized as a prime example of a company evolving through digital technology and ESG management. We are committed to delivering innovative, sustainable value to customers and the world, achieved through the development of environment-friendly electric and autonomous equipment and integration of advanced technology into our business operations," President Choi Cheol-gon of HD Hyundai Construction Equipment said in his opening address.

Through the years, HD Hyundai Construction Equipment has garnered industry-wide recognition for its business competitiveness and excellence in ESG management. Notable achievements include receiving the Grand Prize for ESG management at the 2022 Management Grand Awards. In 2023, the company was honored as the most respected construction equipment maker in South Korea and also recognized as the top sustainability-leading company in the construction and industry equipment sector. Furthermore, in 2023, HD Hyundai Construction Equipment received an A+ rating in ESG management from the Korea Institute of Corporate Governance and Sustainability, solidifying its position as an outstanding company in ESG management.