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Native name | 현대엘리베이터 주식회사 |
|---|---|
| Company type | Public |
| KRX:017800 | |
| Industry | Manufacturing |
| Founded | May 23, 1984; 41 years ago (1984-05-23) |
| Headquarters | , South Korea |
| Products | Elevators,escalators |
| Parent | Hyundai Group |
| Website | hyundaielevator.co.kr (English) |
Hyundai Elevator Co., Ltd. (Korean: 현대엘리베이터 주식회사), aHyundai Group subsidiary, is a South Korean company that manufactureselevators,escalators,moving walkways, and parking systems. Based inChungju, South Korea, Hyundai Elevator has six overseas subsidiaries inChina,Vietnam,Indonesia,Malaysia,Turkey, andBrazil and agents in 49 countries.[1]
Hyundai Elevator was established as a joint venture between Hyundai Electrical Engineering andWestinghouse Electric in 1984.[2]Schindler Group, a Swiss-based company, succeeded Westinghouse's stake in Hyundai Elevator when Westinghouse disposed of its escalator business in 1989.[3] Hyundai Elevator and Schindler deepened the relationship whenKCC, a chemical company run by Hyundai founder's brother Chung Sang-young, attempted to take overHyundai Group by acquiring Hyundai Elevator in 2003.[4] Hyundai and Schindler agreed for the latter to purchase a 20-percent stake in Hyundai's elevator arm to fight back against KCC in 2004, but the domestic regulation annulled the agreement. Despite the invalidation, Schindler purchased a 25.5 percent stake in Hyundai Elevator from KCC after KCC failed to take over the Hyundai Group in 2006.[5]
In 2019, Hyundai Elevator sold its primary facilities, including the main factory, dormitories, and headquarters, inIcheon toSK Hynix for₩205 billion (2019) (US$175.91 million). After the disposition, Hyundai relocated its headquarters toChungju, North Chungcheong, in 2022.[6][1]
In 2025, the company also announced plans to significantly expand its dividend payouts as part of a strengthened shareholder-return policy.[7][8]
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