One in Four Elevators in Korea Managed by 'Hyundai'... Surpasses 200,000 Units

Hyundai Elevator announced on the 14th that the number of elevators under maintenance in South Korea has exceeded 200,000 units. This marks a doubling from 100,000 units in 2015 over the span of nine years.

On the same day, about 100 company executives and employees, including Hyundai Elevator CEO Cho Jae-cheon and Kim Seong-su, Head of the Service Business Division, held a commemorative ceremony at the Hyundai Group headquarters. The company has maintained the No. 1 position in the new elevator installation market for 17 consecutive years and has held the No. 1 market share in maintenance for 9 consecutive years.

The number of elevators currently managed by the company stood at 200,054 units as of the end of last month. This is more than the total number of elevators installed throughout Seoul (169,616 units). Out of the total 860,060 elevators installed nationwide, the company maintains nearly one-quarter.

Since strengthening the functions of the Service Business Division in 2022, the company has rapidly increased the number of units under maintenance. Previously, this division was solely responsible for elevator maintenance, but it was reorganized to also handle elevator replacements. Additionally, the company established a Service Design Team and a Purchasing Team to create an integrated management system covering sales, design, and procurement.

The MIRI service, launched in June last year, also played a significant role. By integrating Internet of Things (IoT), artificial intelligence, cloud computing, big data, and robotics technologies, it monitors elevator operation status in real time. It provides information on parts replacement cycles and abnormal signals. In case of breakdowns or emergencies, it reports to relevant agencies and simultaneously informs the responsible technician with real-time site information, reducing downtime by up to 43%.

CEO Cho Jae-cheon stated, "In the elevator industry where safety is paramount, we will take responsibility for safer elevator operations for our customers through advanced technology and services."