Hyundai Heavy Industries Holdings changes name to 'HD Hyundai'... "Transforming into an investment holding company, fostering new businesses"
"Realizing Dreams (Human Dreams) with Energy (Human Dynamics)"
[Asia Economy Reporter Moon Chaeseok] Hyundai Heavy Industries Holdings is changing its name and accelerating its transition to a technology-focused group in celebration of the 50th anniversary of the founding of Hyundai Heavy Industries Group. This also expresses its intention to transform from a manufacturing company into an investment holding company.
On the 24th, Hyundai Heavy Industries Holdings held a board meeting and resolved to change its name to 'HD Hyundai.' The holding company plans to finalize the name change at the regular shareholders' meeting scheduled for the 28th of next month. HD Hyundai means "realizing 'Human Dreams' through the 'Human Dynamics' of dynamic energy possessed by humans."
The company explained that the reason for changing the name is to break away from the manufacturing-centered image and strengthen its status and role as an investment holding company. The holding company plans to actively nurture new growth engines in future business sectors. A holding company official said, "The new name reflects the company's future orientation," adding, "We will focus on creating new value as an investment holding company through this name change."
The holding company has been steadily investing in new business areas. In 2020, it established Avikus, a specialized company for autonomous ship navigation solutions, and succeeded in the first fully autonomous ship navigation in Korea last year. In March of the same year, it signed a joint investment memorandum of understanding (MOU) worth 1 trillion KRW with the Korea Investment Corporation (KIC) to acquire and invest in shares of global companies with leading technologies.
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In the second half of last year, through its investment subsidiary Hyundai Future Partners, it acquired Mediplus Solution, a mobile healthcare service company. It also formed an investment fund worth 34 billion KRW with Mirae Asset Group to discover and nurture promising venture companies in the digital healthcare and bio sectors, continuing its investments.
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