Hyundai Elevator : Winning the largest elevator contract since its establishmen

- The largest reconstruction site (314 units for the Dunchon Jugong Apartment) since the foundation of the country... Hyundai E&C, Daewoo E& C, HDC KRW 43.4 billion in total
- CEO Cho Jae-cheon said, "All employees' 39 years of efforts paid off with the best technology and brand competitiveness."

- To install units on a gradual basis from mid-June... Single largest order for 256 elevators and 58 escalators

Hyundai Elevator announced on the 18th that it has won the largest-scale elevator contract ever since its establishment. Hyundai Elevator singed the contract for the installation of elevators and escalators (a total of 314 units, worth 43.4 billion KRW) at the DMC Dunchon Jucon reconstruction project in Seoul's Gangdong-gu, the "largest reconstruction site since the founding of the country."

This contract represents the largest scale in terms of the total number of elevators and the contract value in its company history. The contract includes the installation of 256 elevators and 58 escalators. Hyundai Elevator's previous largest-scale contract for residential buildings include THE H FIRSTIER IPARK in Gaepo-dong, Gangnam-gu, with 249 units (approximately 30.5 billion KRW, including 247 elevators and 2 escalators) in 2021, and the Heliocity in Songpa-gu with 209 units (156 billion KRW, all elevators) in 2017.

Cho Jae-cheon, CEO of Hyundai Elevator, stated, "The 39 years of effort by all employees of Hyundai Elevator have finally borne fruit in the form of the best technology and the highly recognized brand competitiveness. We will provide customers with the highest value through the safest and most convenient products."

Hyun Jung-eun, Chairman of Hyundai Group, emphasized in her New Year's message that "crises and opportunities always come together, but only prepared individuals can overcome them and achieve success." On the 16th, she visited the office where the employees who worked on the contract are based and conveyed a message of encouragement, saying, "Despite the difficulties caused by COVID-19 over the past three years, all employees have prepared silently, continuously challenged, and achieved great results."

The Dunchon Jugong reconstruction site, which will be newly developed as Olympic Park Foreon, is planned to have 12,032 households in 85 buildings from underground 3 floors to 35 above ground floors by 2025. It is the first domestic residential complex where over 10,000 households reside in a single complex. Hyundai E&C, Daewoo E&C, and HDC Hyundai Development Company participated as construction companies.

A Hyundai Elevator official stated, "We plan to install the elevators sequentially from mid-June," and added, "Based on our experience with the completion of Heliocity, the largest-scale project to date with 9,000 households, we will establish a close partnership with the construction companies to make Olympic Park Foreon a landmark site."

Meanwhile, Hyundai Elevator is also focusing its efforts on expanding into overseas markets such as Neom City in Saudi Arabia and smart cities in Indonesia, as part of the One Team Korea initiative.