Hyundai Elevator celebrates 40th anniversary

[Courtesy of Hyundai Elevator Co.]

Hyundai Elevator Co. celebrated its 40th anniversary on Wednesday, with the group chairwoman unveiling a vision of technological innovation to guide the company for decades to come.

According to the company, Hyundai Group Chairwoman Hyun Jeong-eun presented a vision for achieving a 100-year legacy during the commemorative event at the company‘s Chungju headquarters, while also emphasizing the company’s commitment to environmental, social and governance (ESG) management.

Hyun was joined by Chief Executive Officer Cho Jae-cheon, North Chungcheong Province Governor Kim Young-hwan, People Power Party representative Lee Jong-bae, and Chungju Mayor Cho Gil-hyung, as well as some 600 employees.

“Hyundai Elevator has become a cornerstone of Korean industry in just 40 years, competing with global companies with 100-year histories thanks to our relentless pursuit of innovation,” Hyun said in her speech during the ceremony, where she alsovemphasized the importance of continuous technological advancement and talent cultivation for the company‘s future.

Hyundai Elevator additonally ntroduced its latest slogan, “Sharing Value through Collective Action,” which emphasizes its commitment to ESG management. This slogan symbolizes shareholders, customers, partners, local communities, and members of the industrial ecosystem committing to mutual growth.

Founded in 1984 under the leadership of the late Chairman Chung Mong-hun, Hyundai Elevator achieved significant milestones, including surpassing 10,000 elevators produced in 1992 and venturing into overseas markets with the establishment of its joint venture in China, Shanghai Hyundai Elevator Manufacturing Co., in 1993. The company set several records in Korea by introducing machine room-less (MRL) elevators in 1999, elevator car braking systems in 2001, double-deck elevators in 2015, and jump elevators in 2018.

Hyundai Elevator relocated its headquarters to Chungju in 2022 and set ambitious goals, which included sales of 5 trillion won and a 50 percent share of overseas business by 2030 to rank among the world’s top 5. The company has maintained its position as the Korean market leader for 17 consecutive years and ranks 7th in global market share.

Hyundai Elevator is breaking new ground by commercializing robotic services and introducing elevator maintenance services. In particular, it is actively promoting “vertiport,” a vertical take-off and landing port in urban air mobility, as its next-generation flagship business. A consortium led by Hyundai Elevator was recently selected as a government-designated institution for the national vertiport project.