Hyundai Elevator Announces 314-Unit, US$33.9 Million Order

South Korea’s Hyundai Elevator has announced its largest-ever order, both in terms of number of units and dollar amount, The Korea Herald reports. The KRW43.4 billion (US$33.9 million) contract involves installation of 256 elevators and 58 escalators for the construction of Dunchon Jo-gong Apartments in Gangdong-gu, Seoul, which will be built into Olympic Park with 12,032 residences in 85 buildings by 2025. Working with Hyundai E&C, Daewoo E&C and HDC Hyundai Development, Hyundai Elevator began this month. Prior to this contract, Hyundai Elevator’s largest-ever order was for 249 units for The H Firstier I Park in Seoul’s Gangnam-gu district in 2021 and the 209 units for Helio City in the city’s Songpa-gu district in 2017. The company is also working to expand its overseas presence, including in Saudi Arabia’s Neom City and Indonesia’s smart cities as part of the “One Team Korea” initiative led by the Ministry of Land, Infrastructure and Transport.