Hyundai Elevator Signs Modular Elevator Commercialization MoU

Hyundai Elevator announced it signed a memorandum of understanding (MOU) with Hyundai Engineering & Construction to commercialize a modular elevator, Maeil Business Newspaper reports. Hyundai Elevator recently completed the development of machine-room-less-(MRL)-type modular elevator technology. In July, it also completed demonstration by applying modular elevators to Hyundai Construction sites in Icheon, Gyeonggi Province, South Korea. Modular elevators are a method in which 90% of the components are pre-manufactured at the factory and assembled at the installation site. This can reduce construction time and reduce the amount of time spent on work on a raised platform. As Hyundai Elevator succeeded in commercializing the MRL type, it also plans to introduce products with machine rooms, which are mainly used in high-rise buildings, in the first half of next year, which also decreases the construction period.