News and Updates on Hyundai Heavy Industries Group
HHI Holdings to Rebrand as “HD Hyundai”
In celebration of the 50th anniversary of Hyundai Heavy Industries (HHI) Group's founding, HHI Holdings is renaming itself and accelerating the Group’s transition to high-tech identity.
HHI Holdings announced that it held a board of directors meeting on March 24 to resolve the company’s rebranding as “HD Hyundai,” which will be up for approval by the shareholders at the annual general meeting on March 28.
The new name HD Hyundai conveys the meaning of “realizing human dreams with human dynamics.”
The name change is aimed at shifting the company’s image away from a traditional manufacturer towards its standing and roles as an investment holding company. Going forward, it plans to more actively engage in discovering and nurturing growth engines for the future.
“The new name represents where we are going and what we want to become in the future,” said an official of HHI Holdings. “We will leverage the rebranding as an opportunity to create new values as an investment holding company.”
The company has been continuously investing in new business fields.
In 2020, HHI Holdings established Avikus, which specializes in autonomous navigation technologies for ships and became South Korea’s first company to succeed in the fully autonomous operation of a ship last year.
In March last year, HHI Holdings signed a memorandum of understanding (MoU) with Korea Investment Corporation (KIC) and agreed to jointly invest up to KRW 1 trillion to take over or acquire equity ownership in companies with technological prowess.
HHI Holdings is on a continued hunt for promising start-ups. In the second half of last year, it acquired MediPlus Solution, a mobile healthcare service provider, through its investment arm Hyundai Future Partners and established a joint investment fund with Mirae Asset Financial Group to discover and nurture promising venture companies in the digital healthcare and biopharma industries.