<img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_01_EN.jpg"><h1>Back to offline! Global Dealer Conference 2023</h1> The Global Dealer Conference was held in Dubai, UAE, from October 10th to 12th. The conference was held to announce the key policies in 2023 for the new business in the Middle East/Russia, CIS/Africa/Turkey dealers, and to discuss plans related to them. <img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_02.jpg"> <img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_03.jpg">There have been various attempts to meet together online to substitute face-to-face meetings due to COVID-19. Especially last year, we gained the medium's attention by using the metaverse platform with avatars to gather around in a virtual space. This year, however, the Global Dealer Conference has become offline again. Over a hundred people attended, including 80 dealers from 34 countries and 25 from us. <img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_04.jpg"> <img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_05.jpg"> <img src="/resources/현건_뉴스레터_11월_딜러컨퍼런스_06.jpg">Hyundai Construction Equipment not only reviewed the performance of the year 22, but we also introduced the GMF China flexible production model, the relocation of the company, the expansion of the product lineup and its direction, the update of AM/PS, and the policy direction and changes of the year 23 including future brand strategies.It was such a meaningful Global Dealer Conference 2023 as it was held offline for the first time in 3 years. We hope that the interaction between the dealers served as a venue for networking and benchmarking.

Back to offline! Global Dealer Conference 2023

<img src="/resources/영문_출범 1주년_1.png"><h2>Already a Year Old: The Three Hyundai Construction Equipment Companies Celebrate Their First Anniversary</h2> On August 19th, the three Hyundai construction equipment companies (Hyundai Genuine, Hyundai Construction Equipment, and Hyundai Doosan Infracore) gathered to celebrate their first anniversary. Reflecting on their first year, the three companies revised their mid- and long-term strategy. We provide you with what brave plans the three devised to become one of the global top 5 companies with this news.&nbsp; A Time Devoted to Design a Growth Strategy to Reach Their Goal of Becoming Global Top 5 The three companies celebrated their anniversary with a ceremony held at Hyundai Doosan Infracore Headquarters located in Incheon. The CEOs and executives including Son Dongyeon (Vice CEO of Hyundai Genuine), Choi Cheolgon (CEO of Hyundai Construction Equipment), and Oh Seunghyeon (CEO of Hyundai Doosan Infracore) attended the event. Fifty employees including Yoo Junmo (Head of Hyundai Doosan Infracore Labor Union) and Lim Yeongmo (Department Head of Metal Workers Union at Hyundai Heavy Machinery) also attended to celebrate the anniversary. <img src="/resources/영문_출범 1주년_2.png">Representing the three CEOs, Jo Yeongcheol (CEO of Hyundai Genuine) delivered a speech honoring the anniversary. He stated that the increased key interest rates and raw material costs combined with a prolonged depression in the Chinese market “are challenging.” He also highlighted that the first half of 2023 “would be the golden time given to us to reach our goal of becoming one of the global top 5 as planned.”The CEO demanded the executives and employees confront this trying period as if the companies are in an urgent situation. He promised that the company culture will be changed by avoiding unnecessary meetings to enhance work efficiency and streamlining the reporting procedure to facilitate prompt decision-making.Furthermore, to become the top-tier construction equipment company beyond the global top 5, he proclaimed to devise a mid-and long-term growth strategy by improving the product portfolio and reinforcing regional strategies by focusing on regional differences.The celebration ceremony was a place to honor the three companies’ anniversary and a place to design fresh strategies for their growth. A special lecture from Ryu Hansoo (Sangmyeong University Professor in the Department of Historical Contents), who specializes in Russia, provided a great opportunity to review the global market. The lecture discussed what triggered the Russia-Ukraine war and how the world would change after the conflict. Ryu’s lecture helped the participants reflect on a plan to respond to a shift in the companies’ business environment in the region due to the recent crisis. <img src="/resources/영문_출범 1주년_3.png">After the event, the three CEOs and heads of the Labor Union in Hyundai Construction Equipment and Hyundai Doosan Infracore planted a persimmon tree together representing a harmonious relationship between the three companies. The members then visited the construction equipment factory and an engine factory in the Incheon plant to inspect the safety of facilities. Celebrating Their First Anniversary Together<img src="/resources/영문_출범 1주년_4.png">The companies made a video celebrating the anniversary. Twenty employees from the three companies had an interview reflecting on the path the three companies walked together and addressing the expectation they have of the companies. Each participant expressed their hopes for the harmonious future and growth the three companies will experience and proclaimed their determination of taking their part to reach the companies’ goal of becoming one of the global top 5 construction equipment manufacturers. <blockquote>“If you want to go fast, go alone; if you want to go far, go together.”—a famous African maxim. Hyundai Construction Equipment, Hyundai Genuine, and Hyundai Doosan Infracore understand the maxim more than anyone else, experiencing for the past year the value and power of going together. Through intricate cooperation in every aspect of operation including purchasing, technology, etc., the three companies will become one of the global top 5 construction equipment manufacturers and leap towards a top-tier construction equipment maker.</blockquote>

Already a Year Old: The Three Hyundai Construction Equipment Companies Celebrate Their First Anniver

<img src="/resources/영문_ADT 론칭_1.png"> <h2>HCE Completes the Medium/Large-sized Equipment Product Line: The Global Launch of ADT</h2> &nbsp;Hyundai Construction Equipment unveiled its first ADT (Articulated Dump Truck) at Hillhead Exhibition held in the United Kingdom. This latest addition to HCE’s products allowed the company to complete its medium/large-sized product family including excavators and wheel loaders. Learn more about the company’s newest equipment from the Senior manager of the Global PM &amp; Marketing Team, Kim Hyeongseok.&nbsp;Q. It’s a pleasure to meet you. Tell us about yourself.Good to meet you as well. I am Kim Hyeongseok from the HQ’s Global PM &amp; Marketing Team, and in the team, I am in charge of everything related to the loaders. <img src="/resources/영문_ADT론칭_2.png"> Q. What would be the primary features of the ADT? Our ADT comes in two different models: the HA30 and HA45. The numbers refer to the loading capacity of each model, the HA30’s being 30 tons and the HA45’s being 45 tons. If I were to put their primary features in four words, it would be “Heavier load, stable off-road”. HCE’s ADT can carry much more materials and can stably go through unpaved and uneven surfaces. This sounds like an obvious job of which any construction machine is capable, but it is not as easy as it sounds. <img src="/resources/영문_ADT론칭_3.png"> <img src="/resources/영문_ADT론칭_4.png"> We designed our ADT to have a special body structure to endure more and heavier materials to be delivered. We tilted the floor of the dump body by about 7 degrees so that the load could stack up from the deepest part of the compartment as well as the weight of the loaded materials could equally be distributed to the wheels to increase stability.If you have to handle lighter materials, our ADT comes with an option to increase the height of the gate and the dump body by 200 to 250 mm to accommodate as many materials as the allowable load. <img src="/resources/영문_ADT론칭_5.png"> The excellent driving performance that is powerful enough to march through unpaved or bumpy surfaces is another advantage that Hyundai Construction Equipment’s ADT holds. To make the ADTs drive like no other, we applied a unique driving system developed by our company. While our competitors adopt three axles each turning two wheels, HCE’s ADT is applied with the Tandem Bogie design, in which one rear axle rotates four wheels. The motor system on the front, which resembles that of an SUV, is equipped with an independent suspension that directly connects the transmission and the wheels without a driving axle. Such a system allows driving the equipment to be incredibly comfortable in rugged, unpaved places where it is used the most, such as a quarry or a mine.We also applied an articulated frame steering to the equipment. The rotation ring of the hinge placed at the heading of the machine reduces the inertia while making a turn and makes the wheels bear an equal weight, which prevents the machinery from receiving too much centrifugal force hence turning with a larger steering radius.Furthermore, we equipped the ADTs with enough safety features such as a rear camera and a speed tracking system for the machines would often work in dangerous environments. The user-convenience features such as LED lights, an auto greaser, and HEFA filters are also applied. <img src="/resources/영문_ADT론칭_6.png"> <img src="/resources/영문_ADT론칭_7.png"> Q. What makes HCE’s ADTs different from the competitors’ ADTs?As I mentioned earlier, the dump body design, the unique driving system, and the placement of the hinge are the things that make our ADTs distinctive from others.Q. Given the features applied to the machines, where would you recommend people use Hyundai Construction Equipment’s ADTs?I guarantee that any worksite with rough or unpaved surfaces, such as a quarry or a mine, would be a perfect place to use our ADTs.&nbsp;Q. Is there any particular goal you have set launching the new ADTs?The company sold 7,400 30-ton and 45-ton models in the global market in 2021, while CAT and Volvo, two among our ten major competitors, take up 70% of the market share (M/S). Frankly speaking, the global construction equipment market is a harsh place for late-comers like us. However, we are striving to promote our sales and reach 3% in market share by 2026 by showing the global customers our unique equipment and technology, as well as utilizing our global network.&nbsp;Q. I hear that the new ADTs will be sold in Europe, the US, Australia, Indonesia, and Russia. How are the customers there responding to the new products? We have released the new ADTs on June 21st, so not much is happening yet. We will have to see for the next few months to gather meaningful data. But our hopes are high as the company’s overseas branches and the dealers working in those countries report that the market has a high expectation for our ADTs. We wish these positive reports would come true. <img src="/resources/영문_ADT론칭_8.png"> Q. Any final comment for our customers?Our company aims to provide the best ADT that could perform with excellent driving performance and stability. Based on its performance and the safety/convenience features, Hyundai Construction Equipment’s ADT will make you productive at any quarry/mine in the world.&nbsp; <blockquote>Although it is the newest member of HCE’s product family, the new Articulated Dump Trucks are capable of so much. Being the perfect solution to rough worksites, the durable ADT from Hyundai Construction Equipment will prove its preeminence in the global market.</blockquote>

HCE Completes the Medium/Large-sized Equipment Product Line: The Global Launch of ADT

<img src="/resources/323a8e4d-b65f-4f23-bf4d-eecf523e33dc.png"> <h2>We are laying the groundwork for achieving the ‘global top 5’ through change and innovation.</h2> <img src="/resources/e87ba209-0991-4e61-bcc8-758f393208c7.png"> Dear colleagues,Happy new year to you all. The new year has come.I appreciate your significant support and dedication during these challenging times. Now that you’ve done a great job dealing with difficult situations, HCE was able to maintain stable activity and get through the last year.&nbsp;Looking back over the last year, 2021 gave us mixed feelings. We’ve made the biggest changes with the incorporation of Hyundai Doosan Infracore and tried to improve the fundamental competitiveness. It has resulted in positive changes, but at the same time, made us feel that there’s still a lot of work ahead.&nbsp;Therefore, we must strive to overcome the challenges by standing together and seeking opportunities to create stable profits. This year, under the slogan of “The first year of the global top 5”, HCE plans to enhance the profitability from the synergy created by three companies in the construction equipment field. To achieve this goal, I believe we need to implement four main ideas of innovation;&nbsp;First, HCE requires the integration of efforts to amplify the synergy. HCE anticipates that a partnership between HCE and Hyundai Doosan Infracore will result in a maximum effect for the integrated platform, R&amp;D, and purchasing sector. To maximize the effect, HCE has to make efforts to upgrade its essential competitiveness as soon as possible. We must pursue constant changes to break the fixed paradigm of the past and make a creative culture.&nbsp;Second, HCE needs to strengthen its ability to optimize global operations. We have kept trying to sharpen the competitive edge for production, which is directly related to HCE’s survival. It is important to maintain stability in supply through predicting an accurate market in demand and improving the efficiency of the production process.&nbsp;Our task is to gain the groundwork for continuous growth; innovate the supply chain management system, improve the operational efficiency of global production, deal with the unforeseen liquid markets, and put our customers first.&nbsp;This year, HCE will make a massive investment in a factory town in Ulsan. By 2025, the factory will be renewed as a global major production base with advanced systems. Through simplification of the assembly line and resultant reduction in logistics cost, HCE is expecting doubled productivity, which can make 15,000 equipment per year. Likewise, improving the Ulsan plant is essential for HCE to enter a global “Top Tier” enterprise. So I ask HCE staff’s continued attention and support until the project is successfully completed.&nbsp;Third, HCE needs to explore the new power for sustainable growth.Whilst the Chinese market has been declining since last June, HCE has made good results from both developed and emerging markets in Latin America, Asia, and Russia. As demand in the Chinese market is expected to continue to slow down this year, we must therefore take the steps to turn this tide now.&nbsp;HCE has already improved the supply networks and has secured a position within the advanced markets by introducing the highly acclaimed ‘A series’ which is eco-friendly, high-efficiency, and strategic. So far, HCE has been doing well in emerging markets. But we will go further, exploring new dealer networks and strengthening after-care to maintain our position in the market.&nbsp;In addition, we are analyzing the targeted market using big data and developing product support to maximize sales of profitable products and components. And this will lead to timely launching products that meet customers’ needs and strengthen the sales network. So HCE will end up building up a virtuous circulation.&nbsp;Besides, HCE is also providing generous support for securing growth in the future construction equipment market; introducing digital transformation(DX), commercializing eco-friendly and automation technologies.&nbsp;Fourth, HCE will make innovation based on ESG(Environment, Social, and Governance).The ESG movement has grown from a corporation into a global phenomenon. We have seen a lot of companies fade into history because they couldn't jump on the stream of time. So HCE will implement ESG management with the commitment and support of Hyundai group.&nbsp;&nbsp;2022 is set to be the first year of introducing ESG for eco-friendly management and social responsibility. In particular, as carbon neutrality is necessary, we plan to establish a strategy for dealing with climate change and accelerate a roadmap for this.&nbsp;We need to move forward swiftly to preoccupy the market. This year, a 1.8-ton electric excavator will be launched in the domestic and European markets. By 2026, we plan to finish the development of electric excavators under 6 tons. In addition, the world’s first 14-ton hydrogen wheel excavator is going to be mass-produced by 2025.&nbsp;I ask all of you to keep focused on our new goals for ESG and do your best respectively. I will also take the lead in making a much safer and pleasant working environment.&nbsp;&nbsp;A new calendar begins a new resolution. Every one of us has an important role to play in the work ahead. And I’m convinced that you can expand your abilities and achieve respective goals to cooperative values as a group. I want to thank you for your continued commitment and effort. In 2022, I wish you and your family a year filled with health and prosperity.&nbsp;2022. 1. 3.CHOI, Cheol-gonCEO Hyundai Construction Equipment

New year's message from CEO CHOI, Cheol-gon

A visit to an unpack video production site for HX Series for Direct ExportingHCE continues to be the number one company in the emerging market with the HX Series leading like 'the sun at the break of dawn' At 4:00 a.m. on April 26, 2021, the sound of machines breaking the silence of dawn echoed on a hill during sunrise at HCE Ulsan factory. The silhouettes of three big excavators appeared with the sound of heavy tracks shaking the ground. The flagship models of the 20-ton, 30-ton and 50-ton lines, the HX225SL, HX340SL, and HX520L, were unveiled at first light. &nbsp;Today, we’d like to guide you through the unpack site of the new HX Series models targeting new emerging markets.&nbsp;<img src="/resources/e6219e4d-7ee0-4603-92b2-cc8b4465a838.jpg"> The new HX Series models released this year have been launched on our online platform. The move was made to tell the story of HCE more intuitively to many more customers. Russia, Oceania, Africa, South America, and Southeast Asia are regions HCE products are directly exported to. Our dealer networks, rather than local corporate bodies, are the main platforms for selling and servicing products to customers, so the online platform serves as the place of communication between dealers and customers in each country. &nbsp;Many companies were hit hard by COVID-19, but HCE saw the situation as an opportunity for growth, strengthening non-face-to-face communication with our outstanding technological capabilities. The online launch video of the HX Series was broadcast in real time to get closer to dealers in respective countries and local customers with creative ideas and catchy videos.&nbsp;The launch video of the HX Series consisted of product unpack, a keynote by Managing director Jeom-seok Byeon on the introduction of the new HX Series with a vision announcement, a presentation on products in the series and the R&amp;D process, an introduction of TCO competitiveness and a Q&amp;A session on how we’ll address customer pain points, enabling genuine communication with dealers and customers. Captivating video technologies like CG, subtitles and motion graphics gripped the eyes and ears of the viewers. &nbsp;The online launching event of the HX Series was broadcast live on YouTube on May 26, 2021.&nbsp; A new vision for the new generation&nbsp;This year, HCE plans to merge with a domestic construction equipment company and is looking forward to becoming one of the top five construction equipment manufacturers in the world. In emerging markets where we have already established a strong foothold, we will push forward an aggressive vision of becoming the top construction equipment maker. To secure the best position not only in market share but also in brand value and customer satisfaction, customers must experience our brand value daily. <img src="/resources/462cd22e-ca4d-459a-b7de-65b05b65ddaf.jpg"> The first step in realizing the vision, the next-generation excavator lineup HX Series.&nbsp;“Welcome to Hyundai Construction Equipment's unveiling site for the HX Series. Now, we introduce you to the strategic lineup for the HX Series, providing unmatched value.” The filming of the unpack event kicked off with a lively introduction by Jordan, an announcer from abroad. Jordan, continued with another announcer from overseas, Kayla, and manager Bo-bae Jo, Jin-ha Jeon and Ye-chan Go of International sales went on to present the new HX Series equipped with differentiated cutting-edge technology and user convenience. At the filming site, high-tech equipment including drones and anti-shake gimbals were used.&nbsp;We expect customers and dealers will better understand the evolution of HCE towards perfection, a premium companion for the success of your business. Customers and dealers working at construction sites around the world can experience HCE’s new differentiated customer value and benefit from industry-leading efficiency.&nbsp;“Moving you Further,” taking a step into the future with sincerity and technological innovation that embraces customers&nbsp;At Yongin Technology Innovation Center, senior managing director Jae-young Moon gave a filmed keynote speech on the HX series as one of the pillars of the customer value innovation journey. HCE will open the door to a new era through technological innovation that continues to break the limits.&nbsp;Customers are the drivers of HCE's business innovations. We have achieved fundamental innovation by mulling over ways to offer new, groundbreaking experiences to customers while supporting dealers with competitiveness in response to the constantly shifting global landscape.&nbsp;Taking another leap forward in our innovative technologies, HCE will go beyond the future construction site to daily innovations with the launch of the HX Series.&nbsp;R&amp;D process leading to the best TCO and productivity &nbsp;At the Reliability Assessment Center at the Global Technology Innovation Center in Yongin, product development scenes were filmed in the Ergonomics Research Lab and the Hydraulic Part Test Lab. The video showed how the industry's top engineers go through rigorous field tests and quality control to develop a product.<h2 class="ql-align-center"> </h2><h2 class="ql-align-center">Interview with Senior managing director Jae-young Moon of HCE</h2><h2 class="ql-align-center">“The HX Series will start a wave of K-machines.”</h2> <img src="/resources/89ced03b-1ccb-477e-b289-a7c9df12c80f.jpg"> Q.&nbsp;&nbsp;Tell us about the launch strategy of the HX Series for the overseas market.&nbsp;A.&nbsp;The HX Series is a product developed to target new emerging markets for sale in those markets. While there are various regions in the offshore market, emerging markets are of high priority to HCE. It is also a region showing rapid growth in our sales. HCE is one of the top three construction equipment makers in most countries in this market. After the launch of the HX Series, we are aiming to become the top excavator manufacturer in the emerging markets based on high sales of the HX Series. &nbsp;Q.&nbsp;&nbsp;Is the Korean wave influencing the construction equipment market as well?&nbsp;A. &nbsp;From a macro perspective, the Korean Wave is clearly affecting the construction equipment market. When I first joined the company in 1994, Caterpillar from the US and Komatsu from Japan were the most well-known companies in this sector. But gradually, Korean brands were also recognized for having good quality. For HCE to become the number one company in the emerging markets with our improved product quality, our brand value must be enhanced as well. If the current trend where HCE’s brand value is growing in emerging markets continues, it would be only a matter of time for K-Machines to follow the boom of K-Pop and K-Movies. &nbsp;Q. &nbsp;Where is HCE at now in emerging markets? And what is your plan to become the top manufacturer in this region? &nbsp;A.&nbsp;Our strategy is differentiated by country. HCE is the top company in some regions like Myanmar, CIS, Saudi Arabia, and some parts of Africa, but we are number three or four in other regions. Our immediate goal is to increase our overall share across all countries in emerging markets, so we can move up the ladder in areas we are not ranked number one while strengthening our foothold in areas where we are. Ultimately, we aim to become the number one maker of excavators in emerging markets.&nbsp;Q.&nbsp;&nbsp;How do you plan to improve the brand value to become the top excavator manufacturer in emerging markets? &nbsp;A.&nbsp;The most important thing in a market is the product. This is particularly true in manufacturing. The idea that you’d improve the brand value without having a quality product would be like building a house of cards. In this respect, the newly released HX Series would be a solid foundation of us becoming the number one company in brand value. A joint effort between manufacturers and dealers is required to enhance this brand value. If our dealers provide customers with quality products along with the best service, our brand value will naturally improve. &nbsp;Q.&nbsp; Is there anything you’d like to say to HCE dealers? &nbsp;A.&nbsp;I would like to say HCE appreciates your hard work and endurance during these difficult times since the outbreak of COVID-19, which has been about a year and three months now. Many countries were on lockdown starting in March and April last year, so our dealers and customers suffered a blow. Fortunately, the construction equipment market has been recovering fast starting from 4Q 2020. This helped us to record top performance in Q1 since the spin-off in 2017. We feel sorry that for the time being, we are not providing enough supply in response to the abrupt rise in orders, but we will do our best to normalize the supply as soon as possible.&nbsp;&nbsp;

HCE continues to be the number one company in the emerging market 

<img src="/resources/222a6a8e-bc8f-44ef-b4b6-f0e90161605b.jpg"> <img src="/resources/1f447f06-ad23-4866-a1a3-427e0d3f8983.png"> It is anticipated that infrastructure investment in Africa will be more active in 2021. Attempts to revitalize stagnant economies after the pandemic hit the entire African continent hard by reestablishing infrastructure have been witnessed.&nbsp;&nbsp; As more than 26 African countries have promoted economic recovery through construction and manufacturing businesses, it is expected that the construction market in Africa will grow to USD 109.6 billion, a 2.2 percent increase from last year. Various economic stimulus packages – railroad construction and electric power expansion – led by the governments are implemented, while easing restrictive policies. The South African government, for example, announced that it would expedite 62 infrastructure investment projects worth ZAR 340 billion to recover from the economic crisis due to Covid-19. It also seems likely that the Tanzanian government will continue to develop its economy via infrastructure establishment by reviving the ‘Tanzania Development Vision 2025,’ which has been slowed by the pandemic.<img src="/resources/1de05458-ed93-4c00-968f-ca7ea821af44.jpg"> Based on its agile promise, HCE has quickly been targeting emerging and African markets. As heavy equipment requires continuous follow-up support, HCE has offered quick customer service, including parts replacement and maintenance, and differentiated dealer experience based on the needs of local customers. It has recently received orders for 130 units of excavators as well as 415 units of wheel loaders and backhoe loaders (worth about USD 40 million) from Russia and Saudi Arabia. Especially, the equipment ordered by Russia is worth about USD 35 million, which well exceeded 40 percent of HCE’s Russian equipment sales last year. The African market also shows how agilely and well HCE is implementing its customer-oriented response. HCE has recorded strong performance in Algeria and Sudan among 24 African markets where HCE operates and has been fostering its market power over all of Africa by accelerating reinforcement of its business network. The HCE business network as well as strategic localized marketing have contributed to this success. In Algeria where the government leads infrastructure development, HCE has established brand awareness through responsive customer service and provision of prompt part supply and maintenance. HCE will continue to implement local marketing to increase its sales of construction equipment in existing markets with strong performance, while expanding the business with the success knowhow across Africa. To that end, it has taken the first step toward eastern Africa by concluding a new dealership contract with NEFC Group. With the partnership with NEFC Group as a regional dealer, HCE can strengthen its sales capacity in eastern Africa by expanding its sales network in five countries: Ethiopia, Djibouti, Somalia, Somaliland, and South Sudan. It has high expectations for the partnership with NEFC Group, which is owned by Mr. Mohammed Hussein Al Amoudi, one of the wealthiest men in the world. <img src="/resources/ee7d1140-e000-4f00-8eab-e83c657ab62c.jpg"> <img src="/resources/c84c8964-e10d-469d-a678-616c02d600ac.jpg"> [HCE Technology Innovation Center in Yongin, Korea] On February 9th, HCE-NEFC Virtual Signing Ceremony, a unique event that overcame a five-hour time difference, was held online at the Technology Innovation Center in Yongin to conclude the new African dealership agreement between HCE and NEFC. The two companies held an unprecedented live signing ceremony online due to the coronavirus pandemic. Executives of HCE in Korea and NEFC in Dubai - Moon Jae-young, executive director of Sales Department, Byeon Jeomseok, director, and Kim Pan-young, director, Mr. Hussain Al-Amoudi, NEFC CEO, and Mr. Waleed Sharafaddin, NEFC CFO – participated in this virtual ceremony. A Key Partner for Eastern African Market, NEFC NEFC is an industrial equipment dealer in eastern Africa. It deals in a wide range of products, from heavy equipment, machinery, vehicles, buses and trucks to related alternatives and components, and offers lease service for construction equipment. NEFC also plays the role of local dealer for global brands, such as Ford, Peugeot and Nissan, based on its strong local influence in construction as well as in agriculture and distribution industries in Africa. &nbsp; <img src="/resources/fd2a2de0-6bcb-42b7-9e23-473e070bece2.jpg"> [HCE-NEFC Virtual Signing Ceremony] Through the dealership contract with NEFC, HCE can implement its full expansion in the eastern African market. NEFC will promote the sale of diverse equipment types, including excavators, wheel loaders, backhoe loaders, skid loaders and motor graders, in eastern African regions – Ethiopia (Ries Engineering), Djibouti (AC Ries), Somaliland (NETCO and SOMTRAC), and Djibouti Free Zone (EAT). As an initial order of 40 units was received, expectations for the business between the two companies is growing. NEFC is an excellent partner that can perform business agilely considering local cultures and market conditions. With this dealership, it is expected that HCE will consolidate an important foothold to become a leading construction equipment brand in the entire African market beyond eastern Africa. A Contact-free Signing Ceremony, Overcoming Five-hour Time Difference The signing ceremony was conducted using ZOOM, a video conference platform, to overcome the five-hour time difference and 6,800 km between two cities, Yongin, Korea and Dubai, UAE. It was a smart way of communicating regardless of location and the difficulties due to Covid-19. <img src="/resources/3feac47e-3f68-4c62-9d43-d59634baf3af.jpg"> [History of HCE Projects] The event began with introduction of guests, both companies and their business projects followed by congratulatory addresses, signing ceremony and commemorative photography. During each party’s presentation of past projects, embellished content on the large screen made a forward-looking impression. <img src="/resources/b4f97a36-c0f4-4ffa-bf99-1c6653f44448.jpg"> [HCE Executive Director Moon Jae-young Signing the Contract] <img src="/resources/2d753e11-dec0-4ad9-ab01-c36faa59014c.jpg"> [HCE Executive Director Moon Jae-young with Signed Contract] Congratulatory addresses by Mr. Moon, HCE Executive Director, and Hussain Al-Amoudi, NEFC CEO, and commemorative photography also took place online. In their congratulatory addresses, the two representatives shared expectations about future collaboration that the two companies will carry out. As contact-free became the new normal, the unique commemorative photography also drew attention. Both signed the contract at their seats and then looked over each other’s document through the screen and took pictures. Mr. Moon commented, “I have frequently used video conferences due to the pandemic since last year, though taking pictures in conjunction with the new contract-free trend was especially impressive. We met virtually today, but I look forward to meeting in person very soon.”&nbsp; <img src="/resources/1133cee6-8ef4-42fe-9dbe-171d9354a3c6.jpg"> [Commemorative Photograph of HCE Executive Director Moon Jae-young and NEFC CEO Hussain Al-Amoudi] With the special virtual signing ceremony, HCE set a milestone in the African market. HCE and NEFC look forward to ahcieving greater growth through their partnership, an important steppingstone for targeting eastern Africa.

현대건설기계

현대건설기계

HD현대건설기계

HD현대건설기계

You can find products and news you are interested in easily and quickly.

0 results for "russia".

현대건설기계

현대건설기계

HD현대건설기계

HD현대건설기계

You can find products and news you are interested in easily and quickly.

0 results for "russia".

Inquiry

HCE's Social Media

Shortcut menu