HD Hyundai Construction Equipment Wins Presidential Award for Corporate Innovation

Hosted by the Ministry of Industry, Organized by the Korea Chamber of Commerce and Industry... Awards for Exemplary Companies in Management Innovation and ESG
Recognition for ESG Management, Brand Identity Declaration, and More

HD Hyundai Construction Equipment announced on the 7th that it received the Presidential Award at the Corporate Innovation Awards.

The Corporate Innovation Awards ceremony was held on the same day at the International Conference Hall of the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. This marked the 30th anniversary of the event. The ceremony is hosted by the Ministry of Trade, Industry and Energy and organized by the Korea Chamber of Commerce and Industry. Since July, through document review, on-site, and comprehensive evaluations, awards were given to 19 companies leading innovation and ESG (Environmental, Social, and Governance) management.

Earlier this year, HD Hyundai Construction Equipment newly announced its Brand Identity (BI) called 'Comfort Intelligence.' It embodies the values of ESG management and digital transformation. After the BI announcement, the company actively promoted various activities and achieved results.

HD Hyundai Construction Equipment received the 'Presidential Award' at the 30th Corporate Innovation Awards ceremony held on the 7th at the Korea Chamber of Commerce and Industry in Jung-gu, Seoul. Choi Cheol-gon, President of HD Hyundai Construction Equipment (right), Lee Seung-ryeol, Director of Industrial Policy at the Ministry of Trade, Industry and Energy (left).
[Photo by HD Hyundai Construction Equipment]

From the perspective of ESG management, the company established a strategy for transitioning to an eco-friendly business. The strategy includes ▲expanding the proportion of eco-friendly products to 97% of total sales by 2040 ▲achieving carbon neutrality at global business sites by 2050 ▲achieving RE100 (100% renewable energy power procurement) at domestic business sites by 2025 ▲developing an alpha version of a hydrogen wheel excavator in 2021 ▲developing a 1.9-ton electric mini excavator. The company also received praise for promoting win-win cooperation by investing in facilities and raising operating funds for partner companies to improve product quality.

In terms of digital transformation, the company is pursuing ▲development into AI (Artificial Intelligence) robots through digital product innovation ▲increasing customer satisfaction through digital service innovation ▲building smart factories based on digital twin technology ▲streamlining work efficiency with a big data platform by introducing Palantir ▲developing customer service programs equipped with AI technology.

Choi Cheol-gon, President of HD Hyundai Construction Equipment, said, "As a strong player in Korea's heavy industry sector, we will be remembered as the best example of digital and ESG innovation," adding, "We will develop eco-friendly electrified and autonomous equipment and introduce advanced technologies into business operations to provide innovative and sustainable value to customers and the world."

Last year, HD Hyundai Construction Equipment received the grand prize in the ESG management category at Korea's Management Awards. This year, it ranked first in the construction equipment sector among Korea's most respected companies and first in the machinery and industrial equipment sector among Korea's leading sustainable companies. Additionally, it obtained the highest grade of A+ from the Korea ESG Standards Institute this year and was selected as an excellent ESG company.

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