GS Construction Pursuing Sale of GS Elevator

Entering Share Sale Process
Negotiations Underway with Multiple Companies Including Chinese Firms

GS Engineering & Construction is pursuing a plan to sell its subsidiary, elevator manufacturer GS Elevator.

According to the construction industry on the 14th, GS Engineering & Construction has entered the process of selling its stake in GS Elevator. A company official stated, "We are negotiating the sale of shares with several companies, including Chinese firms," and added, "It has not yet been decided whether to sell part or all of the shares."

GS Elevator, established by GS Engineering & Construction in 2021, operates manufacturing plants in Asan, Chungnam, and Vietnam. Last year, GS Elevator recorded sales of 34.1 billion KRW but has yet to turn a profit.

Meanwhile, GS Engineering & Construction is also pursuing the sale of GS Inima, its water treatment subsidiary in Spain.