<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.

HCE Targeting Infrastucture Investment in Africa

<img src="/resources/33f7be55-16ff-4c3f-ac15-202d7c75bbd7.jpg"> <img src="/resources/d0f6bafd-fd7b-44e1-9d26-52306f26e6f1.png"> ‘Funsumer (fun + consumer, a popular compound word in Korea)’ concentrates on the ‘experience’ for consumers. Funsumers do not just purchase a product but share their unique experiences on social media, spreading buzz on their product and creating new trends. According to the level of interest in a brand, they contribute to brand innovation by reviving an existing older image into a cool newtro (new + retro) vibe. Entertainment marketing is gaining popularity as it targets funsumers having fun with products, and draws consumers attention with products that reflected various experience values by showing new aspects of a traditional item via vlog and collaborating a fleece jacket with a warm hoppang (steamed bun).&nbsp;<img src="/resources/9ef996c7-0601-4c53-a261-cad3574cd1f5.jpg"> Entertainment marketing appears in various forms according to the characteristics of related companies. It is a concept that encompasses a wide range of opportunities, which induce interest from consumers through collaboration between totally different industries, building a new universe, unique promotional events using a product and other formats.&nbsp;<img src="/resources/afd475c0-b289-4af1-acec-eb8c5a367c68.jpg"> Daehan Flour, for example, has launched diverse goods using its brand logo to widen its touchpoints with the young generation in their 20s and 30s. The company attracted market attention as newtro became popular by opening a distribution channel, ‘Gom (Gompyo) Bakery,’ with a retro-style designed white bear and the name ‘Gompyo.’ It has since gained a new brand image of fresh and fun among the young generation as it continued to launch unprecedented collaborations with diverse industries – ‘7Brau Gompyo Wheat Beer’ with a beer brewery, ‘CU Popcorn’ with a convenience store brand, Aekyung ‘2080 x Gompyo’ toothpaste with a personal product manufacturer, and ‘Swanicoco Flour Cushion’ with a cosmetic brand. <img src="/resources/45ae39f7-03ca-4f1a-add5-7406b06f2ef9.jpg"> New creative attempts have been made in the heavy construction equipment market as well. HCE released a pentology vlog &lt;Forklift Driver Challenge!&gt; and a series of five drag racing episodes &lt;Maximum Speed Forklift Racing&gt;. We look forward to these videos grabbing attention of the young generation, showing HCE’s path in realizing the future of heavy construction equipment with the latest technology and eco-friendly technology. Story of Forklift Driver’s License Acquisition As a Job Seeker Returning to the Farm &lt;Forklift Driver Challenge!&gt;﻿﻿﻿﻿﻿<img src="/resources/2e80344c-8103-4e58-b3f6-0343c24190e8.jpg"> <img src="/resources/ec302eb2-1587-402b-97c9-5646957c09f7.jpg"> &lt;Forklift Driver Challenge!&gt; is the story of an aspiring actress who returned to her countryside hometown and regained her motivation in the process of acquiring a forklift driver’s license. Through this content, HCE sought to empathize with the concerns of the job-seeking young generation. #1. Future, Dream, Job… Addressing Real Concerns of Those in Their 20s&lt;Forklift Driver Challenge!&gt; involves what the job-seeking generation in their 20s and 30s really is concerned about. The way aspiring actress Hyeon A, worrying about her future after her performance was canceled, resembles the young generation in terms of being frustrated and losing a sense of fulfillment in the daily job-search process. On the other hand, the clip sends a clear message. Hyeon A challenges herself to acquire a driver’s license for a small forklift of less than 3 tons and eventually obtains it. As the clip plays, you find her making achievements in a mundane setting. As Hyeon A gets rid of her listless feeling from the routine through a small challenge, forklift driving, it gives you hope that you can move forward toward a bigger challenge after a small mundane accomplishment. #2. Warm Sense of A-frame Porter Transformed into ForkliftOnly a few decades ago, it was easy to spot A-frame porters carrying heavy baggage from the edge of a village or in front of a station in the countryside. A porter appeared in front of heavy-hearted Hyeon A. In line with the present time, he drove an HCE forklift instead. The challenge suggested by being a forklift driver reflects the cozy scenery of the countryside along with comfort for her exhausted mind. #3. You Too Can Drive a Forklift&lt;Forklift Driver Challenge!&gt; breaks the stereotype of existing industrial vehicles. Its setting involves a young female student driving a forklift in a quite farm village instead of by a middle-aged male at a busy industrial worksite in a city. By setting the goal of getting a license for a small forklift of less than 3 tons, we lowered the psychological entry barriers for an advanced equipment operator that our potential forklift customers have. A Great Reversal for Heavy Forklifts, &lt;Maximum Speed Forklift Racing&gt;﻿﻿﻿<img src="/resources/a6c54c42-145c-4d52-87a4-2a54a42ec8ca.jpg"> <img src="/resources/2ade36c9-67ca-440a-a628-4ee9be1bba8e.jpg"> Machines and racing are two things that cause men’s hearts to beat faster! &lt;Maximum Speed Forklift Racing&gt; captures the eyes of men interested in vehicles and machines with unique forklift showdowns, including a drag race and a miraculous transporting mission. You will be surprised by how much a forklift can perform after watching the clip! #1. Irony of Heavy Industrial Equipment’s Speed RacingA drag race is a type of motor race in which vehicles simultaneously compete to be the first to cross a set finish line on a stretch of course. From the video, you can see the dynamic aspects of industrial vehicles in terms of speed, not power, as it translates the traditional charm of motorsports into industrial vehicles. In addition, a variety of missions unfold, such as a relay race using pallets for batons; ‘a miraculous transport mission’ that moves delicate foods tricky to pick up like pudding and peanuts; and ‘forklift challenge’ that delivers random boxes with highly experienced drivers. #2. Wondered What You Might Like, So Got You This!Here are three things, capturing men’s attention - a soccer ball, an automobile and a camera lens. This clip targets men between their 30s and 50s who are fascinated by all three. Showing not only the charms of driving a forklift for beginners considering a career but also changing the boring impression that general consumers have. #3. Hefty Heavy Equipment But Light VideoYou will be surprised at how the tone and manner is tuned to the young generation. Participants, commentators and a caster are all being serious about forklift racing, but their freewheeling commentary never lets you get bored, as they introduce different safety precautions, encourage safe use, and stories about the products. HCE is redefining the limited perceptions and image of industrial vehicles through unique and fun aspects and, at the same time, keeping its principle that a new story is being written by both HCE and its consumers. We hope HCE, that can be seen in various daily settings, will bring the heavy construction equipment industry closer to its consumers. &lt;Forklift Driver Challenge!&gt; vlog and &lt;Maximum Speed Forklift Racing&gt; series by HCE are available on the HCE official website and YouTube channel. Official Website: http://home.hyundai-ce.com/enOfficial YouTube Channel: https://www.youtube.com/hhihce HCE will continue to communicate with our consumers with various content! Please stay tuned for more HCE content!

Forklift Racing? Funsumers Buy Fun

<h2 class="ql-align-center">HCE opens all-weather test site in China</h2> <img src="/resources/c38ba599-1951-442a-8f98-a4610b19a36e.jpg"> HCE disclosed that its local corporation, HYUNDAI(JIANGSU) CONSTRUCTION MACHINERY CO., LTD. in Jiangsu Province, China held an opening ceremony for a 6,600㎡(2,000 pyeong) performance test site on April 19.&nbsp;The ceremony was held with the following people in attendance: Director Lee Won-tae, head of HYUNDAI(JIANGSU) CONSTRUCTION MACHINERY CO., LTD.; Director Kim Gwang-min, director of the research institute of HHI(CHINA) INVESTMENT CO., LTD. in China; and relevant employees and those who carried out the work.&nbsp;The indoor performance test site will go a long way in helping the Company operate its development timetable smoothly as it has many merits like avoidance of dirt occurring in a test of equipment and ability to conduct tests regardless of weather.&nbsp;The indoor test site will also be used for the demonstration of new equipment for customers visiting the place and is expected to enhance their trust in equipment.&nbsp;The 4,300㎡(1,300 pyeong) indoor test site is made of gravel, soil, rocks, clay, etc., just like the site where equipment is to be employed; thus, it is expected to enhance the testing effects of the equipment models tested.

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