Doosan became Develon - history and model series

Doosan is now Develon - here is how it fits together

Do you own an excavator, wheel loader or dumper from Doosan and need spare parts? Then you may have come across the name Develon without seeing the connection. Here we explain what happened to the brand and what it means for you as an owner.

From Chosun Machine Works to Daewoo

The company's roots go back to 1937, when it was founded as Chosun Machine Works during the Japanese colonial period in Korea. After Japan's surrender the company was nationalised, and in 1963 it became a state-owned company under the name Hankook Machine Industrial. In 1969 it was privatised and bought by Shinjin Group, and in 1975 it started producing diesel engines in technical cooperation with the German company MAN.

In 1976 the Daewoo group bought a 44.8 percent stake and the company was renamed Daewoo Heavy Industries. Daewoo collapsed in the aftermath of the 1997 Asian financial crisis, and in 2000 the business was split up. The construction equipment division became Daewoo Heavy Industries & Machinery (source: Wikipedia, "HD Hyundai Infracore").

2005 - Doosan takes over

In 2005 a consortium led by Doosan Heavy Industries won the bidding for Daewoo Heavy Industries & Machinery, in a deal worth around 1.8 billion dollars (source: Financial Times, January 2005). The company was renamed Doosan Infracore and grew over the following years through several acquisitions, including the American company Bobcat in 2007 and the Norwegian company Moxy in 2008.

The wider Doosan group

Doosan Infracore was part of the wider Doosan group, which is still active today in several fields beyond construction equipment - including power generation (today's Doosan Enerbility) and compact equipment through Doosan Bobcat. Doosan Infracore also had its own engine business making diesel and gas engines, which were sold to other manufacturers as well as used in its own machines. Doosan Bobcat was not part of the 2021 deal with HD Hyundai and stayed with the Doosan group (source: Wikipedia, "HD Hyundai Infracore").

The Moxy acquisition and the DA series

An important milestone for Doosan owners: in 2008 Doosan Infracore acquired the Norwegian dumper manufacturer Moxy (source: Construction News, August 2008). That is the background to today's DA series of articulated dumpers.

2021-2023: HD Hyundai and Develon

In 2020 the Doosan group ran into financial difficulties and put its machinery business up for sale. The deal was completed on 20 August 2021, when HD Hyundai (then Hyundai Heavy Industries Group) bought a 35 percent stake in Doosan Infracore for 850 billion won (source: Yonhap News Agency, 20 August 2021). In 2023 the company changed its name to HD Hyundai Infracore and at the same time launched the Develon brand for its machines (source: McLoud, 2023, "Hyundai Drops 'Doosan' Name").

The model series

Agrocon dismantles construction machinery and sells used spare parts. If you are looking for a part for your Doosan or Develon, get in touch and we will help you further.