Auto part conglomerate Halla rebranding to HL Group
South Korea’s Halla Group recently announced that the conglomerate would rebrand itself HL Group in time with 60 years after its foundation.
The Seoul-based outfit said that it would find next-generation growth engines in future mobility services such as electric vehicles and self-driving cars.
For example, the group has funneled its resources to develop new technologies, including the advanced driver-assistance system (ADAS) software for electric vehicles.
“Beginning this July, all cars have to be equipped with the ADAS software in Europe, and other regions are expected to follow suit,” a Halla official said.
“And a mounting number of global automakers are trying to come up with autonomous vehicles. We will try to become their crucial partners under the flag of HL Group.”
In tandem with the new title, HL Group came up with a new corporate identity (CI), which represents a person walking in strides to growth and challenge.
Earlier this month, HL Group Chairman Chung Mong-won disclosed the new title and CI to employees, according to the group that focused on auto part and construction businesses.
Chairman Chung is the second son of the late group founder Chung In-young, the younger brother of Hyundai Group founder Chung Ju-yung.
The group has more than 40 subsidiaries at home and abroad with Mando being its representative Unit. It has chalked up a solid growth in both revenue and profit.
Mando’s sales amounted to 6.15 billion ($4.6 billion), up 11 percent from a year ago. It also saw its 2021 bottom line almost triple to 232 billion won ($174 million) year-on-year.
The group plans to get the approval for the new title and CI through the shareholders’ meeting slated for next month. It will use them starting Sept. 9, ahead of its 60th anniversary that will fall on Oct. 1.