logo
HD Hyundai debuts next-gen excavators

HD Hyundai debuts next-gen excavators

Korea Herald03-04-2025

Korean construction equipment manufacturer sets eyes on W70tr globally accumulated revenue by 2030
HD Hyundai unveiled its next-generation excavators for the first time Thursday at the Seoul Mobility Show 2025 at Kintex in Goyang, Gyeonggi Province, as the Korean construction equipment maker looks to expand its presence in the global market.
The premiered models were the HX400, HD Hyundai Construction Equipment's 40-metric-ton class excavator and the DX240, HD Hyundai Infracore's 24-ton class excavator.
As the first construction equipment company to take part in Korea's biggest biannual auto exhibition, HD Hyundai put on the massive excavators on display at its pavilion under the slogan 'No Infrastructure, No Mobility.'
'As mobility gives the freedom of movement to humanity, construction equipment gives unlimited possibilities for the advancement of mobility,' said Cho Young-cheul, CEO of HD Hyundai XiteSolution, an intermediate holdings company of HD Hyundai's construction equipment arms, during the press conference.
'With the newly released models, HD Hyundai's construction equipment division plans to achieve accumulated overseas sales of 450,000 units and 70 trillion won ($47.7 billion) by 2030 from this year.'
HD Hyundai highlighted that the new excavators are equipped with the company's latest technologies, such as full electro-hydraulic systems and smart assist, safety and monitoring features to improve the accuracy and efficiency of workloads. For instance, the excavators offer guidance for depth and inclination in real time and aid the subtle control of the machine.
According to HD Hyundai, the HX400 will be released in the Korean and European markets in May and June this year, respectively, and launched in North America in April 2026. The DX240 will hit the Korean and European markets in May and July this year, respectively, with a plan to also debut in North America in April 2026.
The Korean construction equipment manufacturer added that it aims to roll out the new models of excavators in the 25-tonne, 30-ton and 35-ton classes within this year. HD Hyundai is capable of producing about 94,300 units of construction equipment per year.
'Spearheaded by the next-generation new models, we will grow our construction equipment brands 'Hyundai' and 'Develon' into global top-makers,' said Cho.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump repeats NATO members should spend 5% of GDP on defense
Trump repeats NATO members should spend 5% of GDP on defense

Korea Herald

time19 hours ago

  • Korea Herald

Trump repeats NATO members should spend 5% of GDP on defense

US President Donald Trump reiterated Friday that North Atlantic Treaty Organization member states should spend 5 percent of gross domestic product on defense, while saying the United States should not. Trump made the remarks during a press availability as he is preparing to attend a NATO summit in The Hague, the Netherlands, next week, where the defense spending target is expected to figure prominently. "I don't think we should, but I think they should," he said, responding to a question about the defense spending target that he proposed. "We've been supporting NATO so long. In many cases, I believe ... almost paying 100 percent of the cost. So I don't think we should, but I think that the NATO countries should absolutely," he added. The US spent about 3.4 percent of its GDP on defense last year. Asked about Spain's stance against the target, Trump said that NATO will have to deal with the country. "Spain has been a very low payer," he said. "They were either good negotiators or they weren't doing the right thing. I mean I think Spain has to pay what everybody else has to pay. Spain has been notorious for low pay." Spain has reportedly rejected the defense spending proposal, calling for a more "flexible" approach. On Thursday, the Pentagon said that European allies are setting the "global standard" for Asian allies, which is spending 5 percent of GDP on defense. South Korea's defense budget this year stands at around 61.2 trillion won ($44.6 billion), which is about 2.32 percent of its GDP, according to Seoul's defense ministry. (Yonhap)

Kazakhstan eyes more connection with Korean capital markets: AIFC governor
Kazakhstan eyes more connection with Korean capital markets: AIFC governor

Korea Herald

timea day ago

  • Korea Herald

Kazakhstan eyes more connection with Korean capital markets: AIFC governor

Kazakhstan is looking for South Korea's capital markets to position the country as a gateway to Central Asia for Korean investors, said Renat Bekturov, governor of the Astana International Financial Center, in an interview with The Korea Herald. The Korean market is one of the most advanced and liquid globally. And with blue-chip companies such as Samsung, the Korea Exchange ranks among the top five worldwide for initial public offering activity, Bekturov noted. He hopes to build institutional links between the capital markets of Kazakhstan and Korea. "We are especially interested in connecting our capital markets, offering Korean investors streamlined access to our financial ecosystem," Bekturov said. According to Bekturov, Korean firms have yet to join AIFC's broker community, but interest from Asian financial institutions — particularly from Hong Kong — is growing, with several firms already joining AIX as trading members. He was in Seoul in April to promote the Kazakh capital market among Korean investors. Beyond finance, Bekturov highlighted Korea's growing industrial presence in Kazakhstan, pointing to Doosan's 300 megawatt gas power plant and upcoming plans to develop a 1,000 MW facility. Hyundai Engineering is participating in multiple regional energy projects, and the AIFC is expanding its outreach through AIFC Connect, aiming to strengthen ties between Asia, Central Asia and the Gulf, with events in Seoul and Hong Kong, according to Bekturov. 'We're here to open doors,' he underlined. 'Korea and South Asia have large, self-sufficient markets, but they're now looking outward for new opportunities and higher returns. Central Asia — and Kazakhstan in particular — offers that.' Citing examples of strong local performance, Bekturov mentioned the IPO of uranium producer Kazatomprom. 'Launched at $11, it peaked at $47 and now trades around $30-35. Including dividends, it's delivered roughly 20-30 percent annual returns,' he said. He also referenced KazMunayGas, a state-owned oil company, whose 2022 IPO has returned close to 40 percent annually. Nearly 4,000 companies are registered in the AIFC, including around 18 Korean firms. 'Many large Korean players like Samsung and Hyundai had already entered the Kazakhstani market before AIFC's launch, but we see growing interest from smaller companies and financial institutions,' Bekturov said. He also highlighted the AIFC's access to regional markets via the Tabadul initiative — a network of exchanges led by Abu Dhabi Exchange. 'Our brokers now offer access to Abu Dhabi, Bahrain and Moscow markets. Through Tabadul, firms in Astana can trade seamlessly across these exchanges,' he explained. The initiative includes the Astana International Exchange and Armenia's Stock Exchange, among others. 'This means that Korean investors connected to AIFC can now access ADX markets, all without leaving their desks,' Bekturov concluded.

[Bio USA] Celltrion deepens global ties, unveils R&D vision at Bio USA
[Bio USA] Celltrion deepens global ties, unveils R&D vision at Bio USA

Korea Herald

timea day ago

  • Korea Herald

[Bio USA] Celltrion deepens global ties, unveils R&D vision at Bio USA

BOSTON — Korean biotech company Celltrion showcased its expanded vision as a next-generation drug developer at Bio USA this week, using the global stage in Boston to deepen ties with international partners and explore cutting-edge biotech collaborations. According to Celltrion on Thursday, the company held more than 150 meetings over the four-day event, engaging in discussions with global pharmaceutical and biotech firms on a wide range of potential collaborations. Over 1,800 visitors stopped by Celltrion's booth during the convention, as announced by the company. Focusing on its core mission of "new drug development" this year, the company concentrated on exploring partnership opportunities to strengthen its pipeline in areas such as antibody-drug conjugates, multispecific antibodies, novel antibody drugs and peptides. The company also held extensive discussions on open innovation initiatives aimed at identifying promising technologies in drug development. Celltrion plans to closely review the meetings from Bio USA to identify potential partners with high growth potential and technical capabilities. In addition, the company said it engaged in wide-ranging talks about expanding its distribution network, receiving collaboration proposals from various companies for drug transportation, storage and other logistical support. Celltrion supplies its biosimilar products through direct sales channels in major global markets. For countries where it relies on indirect sales, the company actively held meetings to strengthen its existing distribution networks. Beyond business meetings, Celltrion also conducted promotional activities throughout the event, such as placing QR-coded brochures throughout its booth to highlight the company's key businesses and major products. Visitors who participated in surveys were offered custom keychains as part of a fun event to drive engagement. 'There was notable interest this year in Celltrion's expansion into the new drug development space,' a Celltrion official said. 'We are committed to securing the best technologies and potential partnerships to advance our pipeline of novel therapeutics. These efforts will reinforce Celltrion's capabilities as it grows into a major global pharmaceutical company.' Celltrion has participated in Bio USA for 16 consecutive years since 2010, continuously seeking global partnerships.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store