Article snapshot taken from Wikipedia with creative commons attribution-sharealike license.
Give it a read and then ask your questions in the chat.
We can research this topic together.
South Korean elevator and escalator manufacturer
You can help expand this article with text translated from the corresponding article in Korean. Click for important translation instructions.
View a machine-translated version of the Korean article.
Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Misplaced Pages.
Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article.
You must provide copyright attribution in the edit summary accompanying your translation by providing an interlanguage link to the source of your translation. A model attribution edit summary is Content in this edit is translated from the existing Korean Misplaced Pages article at ]; see its history for attribution.
You may also add the template {{Translated|ko|현대엘리베이터}} to the talk page.
Hyundai Elevator was established as a joint venture between Hyundai Electrical Engineering and Westinghouse Electric in 1984. Schindler Group, a Swiss-based company, succeeded Westinghouse's stake in Hyundai Elevator when Westinghouse disposed of its escalator business in 1989. Hyundai Elevator and Schindler deepened the relationship when KCC, a chemical company run by Hyundai founder's brother Chung Sang-young, attempted to take over Hyundai Group by acquiring Hyundai Elevator in 2003. 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.
In 2019, Hyundai Elevator sold its primary facilities, including the main factory, dormitories, and headquarters, in Icheon to SK Hynix for ₩205 billion (2019) (US$175.91 million). After the disposition, Hyundai relocated its headquarters to Chungju, North Chungcheong, in 2022.
.svg){kind=logo}
