Hyundai Elevator Aspires Toward “Vision 2030” Goals

On the heels of celebrating its 40th anniversary in 2024 and relocating its headquarters to Chungju Smart Campus in 2022, South Korea-based Hyundai Elevator has its eye on becoming one of the top five vertical-transportation (VT) companies in the world, Maeil Business Newspaper reports. The manufacturer achieved KRW1.8 trillion (US$1.28 billion) in sales in 2023, thanks to winning contracts such as a 314-unit, US$33.9-million order for an apartment complex in Seoul. In line with its “Vision 2030” goals, the company’s R&D investment is growing, contributing to successes such as its Elevator VR Simulation Platform — developed to expand customers’ design options — winning a Good Design USA Award in 2023. Hyundai Elevator CEO Cho Jae-cheon said the company will go beyond elevators as a means of transportation, transforming them into “spaces that create new possibilities through AI, robots and the cloud.”