Hyundai Elevator Co., Ltd. (Korean: 현대엘리베이터 주식회사), a Hyundai Group subsidiary, is a South Korean company that manufactures elevators, escalators, moving walkways, and parking systems. Based in Chungju, South Korea, Hyundai Elevator has six overseas subsidiaries in China, Vietnam, Indonesia, Malaysia, Turkey, and Brazil and agents in 49 countries.[1]
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Native name | 현대엘리베이터 주식회사 |
|---|---|
| Type | Public |
| KRX: 017800 | |
| Industry | Manufacturing |
| Founded | May 23, 1984 |
| Headquarters | , South Korea |
| Products | Elevators, escalators |
| Parent | Hyundai Group |
| Website | hyundaielevator.co.kr (English) |
History
editHyundai Elevator was established as a joint venture between Hyundai Electrical Engineering and Westinghouse Electric in 1984.[2] Schindler Group, a Swiss-based company, succeeded Westinghouse's stake in Hyundai Elevator when Westinghouse disposed of its escalator business in 1989.[3] Hyundai Elevator and Schindler deepened the relationship when KCC, a chemical company run by Hyundai founder's brother Chung Sang-young, attempted to take over Hyundai Group by acquiring Hyundai Elevator in 2003.[4] Hyundai and Schindler agreed for the latter to purchase a 20-percent stake in Hyundai's elevator arm to fight back against KCC in 2004, but the domestic regulation annulled the agreement. Despite the invalidation, Schindler purchased a 25.5 percent stake in Hyundai Elevator from KCC after KCC failed to take over the Hyundai Group in 2006.[5]
In 2019, Hyundai Elevator sold its primary facilities, including the main factory, dormitories, and headquarters, in Icheon to SK Hynix for ₩205 billion (2019) (equivalent to ₩240.32 billion or US$169.03 million in 2025)[6]. After the disposition, Hyundai relocated its headquarters to Chungju, North Chungcheong, in 2022.[7][1]
In 2025, the company also announced plans to significantly expand its dividend payouts as part of a strengthened shareholder-return policy.[8][9]
See also
editReferences
edit- 1 2 Park, Jae-hyuk (July 13, 2022). "Hyundai Elevator vows global expansion at new headquarters in Chungju". The Korea Times. Chungju.
- ↑ Mirabile, Lisa (1998). International Directory of Company Histories. St. James Press. p. 122. ISBN 9781558620124.
- ↑ Hicks, Jonathan P. (October 29, 1990). "All About/Elevators; Building Business on a Few Seconds' Edge". The New York Times.
- ↑ Koh, Yun-hee (November 8, 2003). "KCC buys stake in Hyundai". Korea JoongAng Daily.
- ↑ Kim, Rahn (December 9, 2013). "Hyundai Elevator vs. Schindler". The Korea Times.
- ↑ 1906 to 1911: Williamson J. (1999), Nominal Wage, Cost of Living, Real Wage and Land Rent Data for Korea 1906–1939 1912 to 1939: Mizoguchi, T. (1972). "Consumer Prices and Real Wages in Taiwan and Korea Under Japanese Rule". Hitotsubashi Journal of Economics, 13(1), 40-56. Retrieved May 21, 2021. Afterwards, consumer price index from Statistics Korea. Consumer Price Index by year. Retrieved 3 April 2018, 1965 to 2025: Bank for International Settlements, Consumer prices
- ↑ Ko, Jun-tae (May 3, 2019). "Hyundai Elevator sells plant, heads to Chungju". Korea JoongAng Daily.
- ↑ "현대엘리베이터, 배당 대폭 확대 추진". Yonhap News (in Korean). November 28, 2025.
- ↑ "현대엘리베이터, 배당 확대 검토". Chosun Biz (in Korean). November 28, 2025.
External links
edit
- Official website (English)
- Business data for Hyundai Elevator: