SEOUL, KOREA - Hyun Jeong-eun, Hyundai Group chairwoman and the wife of the late group chairman Chung Mong-hun, said in a speech delivered at the 30th anniversary of Hyundai Elevator's founding, "I hope the company could become a long-running company past 100 years." She added that she expects the company to be the world's best elevator maker based on the big-three production bases in China, Brazil, and Korea.
Her remarks about the three production bases reflect the company's willingness to accelerate its global expansion effort. In February this year, the company acquired a 100-percent stake in Shanghai Hyundai Elevator to increase the presence in the world's biggest elevator market. Earlier on April 17, Hyundai Elevator held a completion ceremony for an elevator plant in Sao Leopoldo in the Brazilian state of Rio Grande do Sul with an annual capacity of 3,000 elevator units. Soon afterward, it won orders for elevators for apartments to be used by the athletes for the 2016 Olympics in Rio de Janeiro.
The company is currently working on landing orders for elevators to a 38-story Trump Tower in Rio de Janeiro and the Visionaire Shopping Mall in Brasilia. Hyundai Elevator has maintained the No. 1 position in the domestic market for the past seven years, accounting for about a half of the share. It posted a sales revenue of 1.06 trillion won last year, surpassing the 1-trillion-won level for the first time after installing more than 15,000 elevators.
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