The Pembangunan Sumber Manusia Berhad (PSMB) was incorporated through the enactment of the Pembangunan Sumber Manusia Berhad Act 2001 on 17 April 2001. It was initially known as Human Resources Development Council (HRDC) established in 1993.

As an agency under the Ministry of Human Resources (KESUMA), PSMB is responsible for collecting levy from key industries and disbursing training grants to registered employers through its internal mechanisms known as the Human Resources Development Fund (HRDF).

In April 2021, HRDF became Human Resource Development Corporation (HRD Corp). The name change reflects its new responsibilities, directions and mission. These include expanding its workforce, upskilling and reskilling efforts to all Malaysian employers and individuals, and providing income-generating opportunities to all communities in need. This transformation is in line with HRD Corp’s ambition of driving Malaysia’s talent development aspirations for the long term.