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| {{notability|Companies|date=October 2015}} | {{notability|Companies|date=October 2015}} | ||
| {{Infobox company | {{Infobox company | ||
| | name = HDC Young Chang |
| name = HDC Young Chang | ||
| | logo = | | logo = | ||
| | industry = ]s | | industry = ]s | ||
| Line 7: | Line 7: | ||
| | founder = Jai-Young Kim<br>Jai-Chang Kim<br>Jai-Sup Kim | | founder = Jai-Young Kim<br>Jai-Chang Kim<br>Jai-Sup Kim | ||
| | location = ] | | location = ] | ||
| | location_city = | | location_city = | ||
| | area_served = Worldwide | | area_served = Worldwide | ||
| | key_people = | | key_people = | ||
| | products = Pianos, ]s, and wind instruments | | products = Pianos, ]s, and wind instruments | ||
| | production = | | production = | ||
| | revenue = {{US$|281 million}} {{small|(1998)}}<ref name=":0" />{{Rp|3–1}} | |||
| | revenue = | |||
| | operating_income = | | operating_income = | ||
| | net_income = | | net_income = | ||
| | assets = | | assets = | ||
| | equity = | | equity = | ||
| | owner = | | owner = | ||
| | num_employees = | | num_employees = 3,817 {{small|(1998)}}<ref name=":0" />{{Rp|3–1}} | ||
| | parent = | | parent = | ||
| | divisions = | | divisions = | ||
| | location_country = ] | | location_country = ] | ||
| | market cap = | | market cap = | ||
| | homepage ={{url|http://global.youngchang.com/}} | | homepage = {{url|http://global.youngchang.com/}} | ||
| }} | }} | ||
| '''HDC YoungChang''' (]: HDC영창) is a South Korean manufacturer of ]s and industrial wood working machinery, headquartered in ], ]. Young Chang currently holds 50% of the South Korean piano market. | '''HDC YoungChang''' (]: HDC영창) is a South Korean manufacturer of ]s and industrial wood working machinery, headquartered in ], ]. Young Chang currently holds 50% of the South Korean piano market. The company is among the largest and most automated of the world's piano manufacturers. | ||
| ==History== | ==History== | ||
| The company was founded in 1956 as a distributor of Yamaha pianos<ref>{{ |
The company was founded in 1956 as a distributor of Yamaha pianos for Korea and other parts of Asia by three brothers,<ref name=":0">{{Cite report|url=https://www.usitc.gov/publications/docs/pubs/332/pub3196.pdf|title=Pianos: Economic and Competitive Conditions Affecting the U.S. Industry (Publication 3196)|last=Lundy|first=David|last2=Dominque|first2=David|date=May 1999|publisher=U.S. International Trade Commission|issue=|doi=|volume=|pmid=|id=Investigation No. 332-401|last3=Pogany|first3=Peter|last4=Sastrum|first4=Carl|last5=Watkins|first5=Ralph|access-date=21 July 2018|format=PDF}}</ref> Jai-Young Kim, Jai-Chang Kim and Jai-Sup Kim, as South Korea emerged as a major economy and producer of high quality goods. The first Young Chang factory was built in Seoul in 1964.<ref>{{cite book|first1=Robert Palmieri, editor|title=Piano : an encyclopedia|date=2003|publisher=Routledge|location=New York |isbn=0-415-93796-5|page=442|edition=2.}}</ref> Young Chang has also emerged as one of the largest manufacturers of quality pianos in the world. It produces and markets the hand built Albert Weber, Weber and (formerly) Pramberger, Bergman models, and used to manufacture the ] line for ]. | ||
| In 1990, Young Chang purchased ], a maker of high end electronic and digital musical instruments. | In 1990, Young Chang purchased ], a maker of high end electronic and digital musical instruments. | ||
| Line 35: | Line 35: | ||
| ], a former vice president from Steinway & Sons (head of manufacturing) and an experienced piano designer, joined the company in 1995. Pramberger brought many innovations to piano design, including the "Platinum Touch Action" and the patented asymmetrically tapered soundboard. The ''Pramberger Platinum'' series, introduced in 2001, was Young Chang's top-of-the-line for three years. These models incorporated some German materials including Renner action parts. Joseph Pramberger died in 2003, and the following year, his estate sold the Pramberger name to ], but his patents and innovations are still exclusive to Young Chang. | ], a former vice president from Steinway & Sons (head of manufacturing) and an experienced piano designer, joined the company in 1995. Pramberger brought many innovations to piano design, including the "Platinum Touch Action" and the patented asymmetrically tapered soundboard. The ''Pramberger Platinum'' series, introduced in 2001, was Young Chang's top-of-the-line for three years. These models incorporated some German materials including Renner action parts. Joseph Pramberger died in 2003, and the following year, his estate sold the Pramberger name to ], but his patents and innovations are still exclusive to Young Chang. | ||
| During the late 1980s and early 1990s, Young Chang manufactured ] electric guitars and basses for ], and also manufactured acoustic, acoustic/electric, electric guitars and basses under their own "Fenix" brand.<ref>Blue Book Of Electric Guitars 9th Edition Zachary Fjestad, Edited by S.P. Fjestad {{ISBN|1-886768-57-9}}</ref> However, because of the similarities to the Fender brand and instruments, Young Chang could not sell the Fenix instruments due to licensing issues with Fender, and production stopped.{{Citation needed|date=January 2009}} In |
During the late 1980s and early 1990s, Young Chang manufactured ] electric guitars and basses for ], and also manufactured acoustic, acoustic/electric, electric guitars and basses under their own "Fenix" brand.<ref>Blue Book Of Electric Guitars 9th Edition Zachary Fjestad, Edited by S.P. Fjestad {{ISBN|1-886768-57-9}}</ref> However, because of the similarities to the Fender brand and instruments, Young Chang could not sell the Fenix instruments due to licensing issues with Fender, and production stopped.{{Citation needed|date=January 2009}} In 1995, Young Chang opened a new {{US$|40 million}} factory in ], ].<ref name=":0" />{{Rp|2–11}} | ||
| As of the late 1990s, Young Chang, at the time known as ''Young Chang Akki Company,''<ref name=":0" />{{Rp|3–1}} was among the largest of the word's manufacturers of pianos, alongside alongside ], ] and ],<ref name=":0" />{{Rp|xiii}} and one of five ] producing pianos.<ref name=":0" />{{Rp|3–1}} A subsidiary based in ], ''Young Chang Timber'', cuts and processes wood for export to its Asian manufacturing sites.<ref name=":0" />{{Rp|3–5}} | |||
| Young Chang has more than 2,000 full-time workers, designing and building its upright and grand pianos, and also the electronic Kurzweil Music Systems. ] acquired Young Chang in 2006. | Young Chang has more than 2,000 full-time workers, designing and building its upright and grand pianos, and also the electronic Kurzweil Music Systems. ] acquired Young Chang in 2006. | ||
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| Industry | Musical instruments |
|---|---|
| Founded | 1956 |
| Founder | Jai-Young Kim Jai-Chang Kim Jai-Sup Kim |
| Headquarters | Incheon, South Korea |
| Area served | Worldwide |
| Products | Pianos, string instruments, and wind instruments |
| Revenue | US$281 million (1998) |
| Number of employees | 3,817 (1998) |
| Website | global |
HDC YoungChang (Hangul: HDC영창) is a South Korean manufacturer of pianos and industrial wood working machinery, headquartered in Incheon, South Korea. Young Chang currently holds 50% of the South Korean piano market. The company is among the largest and most automated of the world's piano manufacturers.
History
The company was founded in 1956 as a distributor of Yamaha pianos for Korea and other parts of Asia by three brothers, Jai-Young Kim, Jai-Chang Kim and Jai-Sup Kim, as South Korea emerged as a major economy and producer of high quality goods. The first Young Chang factory was built in Seoul in 1964. Young Chang has also emerged as one of the largest manufacturers of quality pianos in the world. It produces and markets the hand built Albert Weber, Weber and (formerly) Pramberger, Bergman models, and used to manufacture the Essex line for Steinway & Sons.
In 1990, Young Chang purchased Kurzweil Music Systems, a maker of high end electronic and digital musical instruments.
Joseph Pramberger, a former vice president from Steinway & Sons (head of manufacturing) and an experienced piano designer, joined the company in 1995. Pramberger brought many innovations to piano design, including the "Platinum Touch Action" and the patented asymmetrically tapered soundboard. The Pramberger Platinum series, introduced in 2001, was Young Chang's top-of-the-line for three years. These models incorporated some German materials including Renner action parts. Joseph Pramberger died in 2003, and the following year, his estate sold the Pramberger name to Samick, but his patents and innovations are still exclusive to Young Chang.
During the late 1980s and early 1990s, Young Chang manufactured Squier electric guitars and basses for Fender Musical Instruments Corporation, and also manufactured acoustic, acoustic/electric, electric guitars and basses under their own "Fenix" brand. However, because of the similarities to the Fender brand and instruments, Young Chang could not sell the Fenix instruments due to licensing issues with Fender, and production stopped. In 1995, Young Chang opened a new US$40 million factory in Tianjin, China.
As of the late 1990s, Young Chang, at the time known as Young Chang Akki Company, was among the largest of the word's manufacturers of pianos, alongside alongside Samick, Yamaha and Kawai, and one of five multinationals producing pianos. A subsidiary based in Washington state, Young Chang Timber, cuts and processes wood for export to its Asian manufacturing sites.
Young Chang has more than 2,000 full-time workers, designing and building its upright and grand pianos, and also the electronic Kurzweil Music Systems. Hyundai Development Company acquired Young Chang in 2006.
References
- ^ Lundy, David; Dominque, David; Pogany, Peter; Sastrum, Carl; Watkins, Ralph (May 1999). Pianos: Economic and Competitive Conditions Affecting the U.S. Industry (Publication 3196) (PDF) (Report). U.S. International Trade Commission. Investigation No. 332-401. Retrieved 21 July 2018.
- Piano : an encyclopedia (2. ed.). New York : Routledge. 2003. p. 442. ISBN 0-415-93796-5.
{{cite book}}:|first1=has generic name (help);|first1=missing|last1=(help)CS1 maint: multiple names: authors list (link) - Blue Book Of Electric Guitars 9th Edition Zachary Fjestad, Edited by S.P. Fjestad ISBN 1-886768-57-9