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HDC Hyundai Development Company Executes Reorganization Move to Spur Preparations for the Future and Strengthen Development Capabilities

- Future Innovation Division, Development Business Division, Safety Management Office newly established as parts of a large-scale reorganization

- Marketing Department and project organizations newly installed to strengthen marketing competence and integrative project promotion

- Kwangwoon Univ. Station Area development project included in accelerated joint business development process


HDC Hyundai Development Company of the HDC Group has recently executed a reorganization move to spur its future planning and to strengthen its developing and marketing competence.


HDC Hyundai Development Company newly established its Future Innovation Division on April 5th as part of its large-scale reorganization. The Future Innovation Division and Safety Management Office were founded to strengthen its future development competence and make way for ESG (Environmental, Social and Governance) management, and its Development Division and Business Procurement Division were integrated into the Development Business Division for product development planning and business ability advancement. Furthermore, the Marketing Department was newly installed within the Development Business Division with the goal of enhancing its marketing and brand competence. The previous 4 divisions, 2 offices, 29 teams, 10 groups and 1 branch office were reorganized into 4 divisions, 4 departments, 1 office, 31 teams, 5 groups and 1 branch office, and its agile organization, which was founded in 2018 – the first in Korea’s construction market, was developed into a new project organization, in addition to a large-scale selection of young leaders with horizontal leadership and expertise to add vigor to the new system.


Future Innovation Division, Safety Management Office, Development Business Division  Newly Established, Digital Change System Introduced


Through said reorganization, HDC Hyundai Development Company newly established the Future Innovation Division in order to fortify its future preparation competence and actively respond to new businesses and new technologies. The Future Innovation Division is comprised of a Future Strategy Team, HR Innovation Team, and Digital Platform Team among others, with the heavy responsibility of actively responding to digital trends, discovering new businesses, developing new technologies, and fostering future talent. Added to this, HDC Hyundai Development Company also installed the Safety Management Office recently to strengthen its safety and environment management according to changing business environments which highlight ESG factors.


Furthermore, HDC Hyundai Development Company reorganized its existing Development Division and Business Procurement Division into a Development Business Division with the goal of planning product development and strengthening sales per function. Notably, a project organization was newly formed so that staff members’ opinions during projects could be actively expressed for quick decision-making. By adopting this kind of responsible management system, consistency and consolidation of tasks were maximized. Furthermore, the Marketing Department was formed within the headquarters to accelerate marketing and brand strategies. The Marketing Department, comprised of a Marketing Team and Customer Experience Team among others, will plan products and services with new concepts and innovate on/off-line customer experiences to expedite integrative brand marketing.   


Existing organizations will also go through continuous change. The Construction Division will promote supervision advancement and smart change in the field through the digital technology of its newly founded Construction Digital Team, and the Management Division will also concentrate on each department’s management efficiency and specialty improvement by recognizing their respective roles in the corporation’s management such as business analysis, finance and accounting.


Future Empowerment through the Selection of Female Leaders and Young Talent


This reorganization gave priority to the appointment of innovative talent corresponding to HDC Hyundai Development Company’s medium-and long-term strategy vision based on its meritocracy personnel principle. By following a strict performance-based rule, this personnel move took on a challenge leading to exceptional results and the discovery of talent with ready professionalism and executive ability added to the recruitment of progressive and young talent for core positions. Particularly, HDC Hyundai Development Company, which had continuously fostered female talent, additionally assigned female leaders for 1 department and 1 team during this personnel reform. With this change in effect, HDC now has female leaders in 7 teams out of 31 (23%), in addition to 3 female executives.


As a comment on this recent action, HDC Hyundai Development Company stated that this reorganization reflects the will of the HDC Group in fearlessly making change and acquiring innovation in efforts to search for new business fields and prepare for the future environment, and that this new reorganization will further advance HDC’s competence as a developer to set up a new city model and simultaneously discover new future business platforms even faster.


Meanwhile, HDC Hyundai Development Company will continue to enhance its management division’s capabilities based on its advantage of being Korea’s leading developer through its REITs and infra funds, and maximize the use of its development business Value Chain to build a high-quality real estate asset portfolio. Aside from Gocheok IPARK, the largest publicly supported civilian rented apartments with large-scale commercial facilities, complex administration towns and parks, the Gongneung Station Area, Yongsan Railroad Hospital Site, Kwangwoon Univ. Station Area and other joint development projects will constitute a new lifestyle and business platforms unique to the HDC Group.