Hyundai Elevator Signs MOU With Samsung C&T

Hyundai Elevator signed a memorandum of understanding (MOU) with Samsung C&T at its Modular Elevator R&D Lab in Seobuk-gu, Cheonan, Chungnam, South Korea, on May 16, the Korea It Times reports. The signing ceremony was attended by Samsung C&T Head of M&E Division Jo In-soo and Hyundai Elevator’s Chief Technology Officer Lee Tae-won, along with representatives from both companies. The partnership aims to upgrade the jointly developed, second-generation of modular elevator technology that was completed in 2024. The companies will work together to modify the technology initially developed by Samsung C&T for low-rise buildings to expand its application to ultra-high-rise buildings.