HD Hyundai Construction Equipment to Invest 200 Billion KRW in Ulsan Plant Modernization

Investment Agreement with Ulsan City on the 19th, Equipment and System Advancement

67% Increase in Production to 6,000 Units, Employment Over 600

HD Hyundai Construction Equipment will invest 200 billion KRW to advance the facilities at its Ulsan plant.

On the 19th at 3 PM, Ulsan City and HD Hyundai Construction Equipment signed an investment agreement for the advancement project of the HD Hyundai Construction Equipment Ulsan Campus in the mayor's office on the 7th floor of the city hall main building.

The signing ceremony was attended by Kim Doo-gyeom, Mayor of Ulsan, Choi Cheol-gon, CEO of HD Hyundai Construction Equipment, Kwon Myung-ho, member of the National Assembly, and about 10 others.

Officials from HD Hyundai Construction Equipment Co., Ltd. are signing an investment agreement for the advancement of the Ulsan Campus project with Ulsan Mayor Kim Doo-gyeom at Ulsan City Hall on the 19th.

According to the agreement, HD Hyundai Construction Equipment will carry out an advancement project for the Ulsan Campus, a major production hub, through large-scale investment to strengthen production competitiveness.

Ulsan City will provide administrative support, including the establishment of necessary infrastructure, to ensure the successful promotion of the Ulsan Campus advancement project.

HD Hyundai Construction Equipment also pledged to prioritize hiring Ulsan citizens and expand contracts with local companies to contribute to economic revitalization.

This project involves reorganizing the aging production lines and facilities of the Ulsan plant, which spans 254,842㎡ of land in Dong-gu and has a total floor area of 113,619㎡.

The total project cost is 194.1 billion KRW, and the project is scheduled to be completed by June 2025.

After completion, the production capacity of construction equipment (excavators, wheel loaders) at the Ulsan plant will increase from about 9,000 units annually to approximately 15,000 units, an increase of about 6,000 units (67%). Along with the expansion of production capacity, employment is expected to increase by more than 600 workers.

Kim Doo-gyeom, Mayor of Ulsan, said, “This Ulsan Campus advancement project is expected to contribute not only to improving HD Hyundai Construction Equipment’s production efficiency but also to creating safe and pleasant jobs,” adding, “We will do our best to transform Ulsan into an industrial capital through the advancement, sophistication, and eco-friendliness of our core industries.”

This content was produced with the assistance of AI translation services.