Hyosung Construction Seeks Revival as a Famous Construction Company through Brand Integration with Chin Hung International Inc.
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Hyosung Construction and Chin Hung International Inc. seek revival as a famous construction company in the market by changing the brand. Hyosung Construction decided to change the BI (brand identity), which is known as the ‘face of the apartment’, and reinforce the housing business. The company is planning to fight in the depressed housing market by integrating the BI with its subsidiary, Chin Hung International Inc., and increasing the synergy effect. Hyosung Construction announced that they will use ‘Hyosung Harrington Place’ as the new apartment brand integrated with Chin Hung International Inc.
This originates from the term ‘settlement on stony ground’ coming from noble families in England. As there are many places using ‘~ton’, which indicates dwelling, among the names of old villages in England, Harrington is naturally known to have the meaning of a noble residential area with tradition. Place also has the meaning of a luxurious town other than the meaning of place in general.
With Harrington as the representative brand, Hyosung Construction will consistently use it according to the product: an apartment is Harrington Place, a multipurpose building and officetel is Harrington Tower, a luxurious villa is Harrington Court, and a complex building is Harrington Square. In particular, while most domestic apartment brands are compound words that follow the trends in Japan, Harrington is differentiate as it uses natural language.
Hyosung Construction will reinforce the housing business through the new brand. Generally the housing market is in depression, but to continue growth in the medium/long term, it is necessary to increase the portion of housing business. Hyosung Construction plans to enter the top 40 in the construction ability evaluation from the current top 65, by achieving sales of KRW 542 billion and orders worth KRW 900 billion this year.
