HD Hyundai Construction Equipment, Boosting Domestic Used Equipment Sales

Business Agreement for Building Auction Platform

HD Hyundai Construction Equipment, a subsidiary of HD Hyundai Construction Machinery, is set to revitalize the domestic used equipment sales market.

(From left) Song Hee-jun, Head of Sales Division at HD Hyundai Construction Equipment, Kim Geun-man, Head of Industrial Finance Division at Hyundai Commercial, and Kang Sang-hyun, CEO of MyCar Auction, are taking a commemorative photo after signing a business agreement for the used equipment online auction business. / Photo by HD Hyundai Construction Equipment

On the 5th, HD Hyundai Construction Equipment announced that it signed a 'Business Agreement for Online Used Equipment Auction' with Hyundai Commercial and Mycar Auction at the HD Hyundai Global R&D Center in Pangyo, Gyeonggi Province.

The participating companies will build an online auction platform specializing in used construction machinery. They plan to launch used equipment auctions by introducing the country's first pre-diagnosis evaluation system.

HD Hyundai Construction Equipment will support domestic dealerships in supplying used construction machinery for auction. To activate the auction platform, it will provide buyers with product warranties and low-interest loans. It also plans to cover the costs involved in used equipment diagnostic evaluations.

Hyundai Commercial will establish the platform infrastructure for used construction machinery auctions and will be responsible for overall service support of the platform. Mycar Auction will operate the auction system and recruit bidding participants. It will conduct pre-diagnostic evaluations of used equipment to enhance the safety and reliability of the online auction system.

HD Hyundai Construction Equipment explained that the newly introduced online auction platform supports real-time listing of items through pre-equipment evaluations by appraisers, reducing the usual auction process from about one month to approximately three days.

A company representative said, "Following Vietnam last year, we have laid the foundation to revitalize the used construction equipment sales market domestically this year as well," adding, "We will activate the used construction machinery sales market by providing services that consider customer convenience."

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