Hyundai Elevator Doubles Its Fleet at High Speed Since Reaching 100,000 Units in 2015

Advanced Maintenance Service ‘MIRI’ Gains Traction Through Word of Mouth

Hyundai Elevator has surpassed 200,000 units under maintenance in the domestic elevator market. It has more than doubled its fleet at high speed in just nine years since reaching 100,000 units in 2015.

Hyundai Elevator’s crossing of the 200,000-unit maintenance mark carries considerable significance. Celebrating its 40th anniversary this year, Hyundai Elevator holds the No. 1 market share in the new elevator installation market for the 17th consecutive year, and has also maintained the No. 1 market share in the maintenance market for the ninth straight year.

The number of elevators Hyundai Elevator currently manages stands at 200,054 units as of the end of October—more than all the elevators installed across Seoul (169,616 in total). Broadening the view nationwide, roughly one quarter of the 860,060 elevators installed in Korea are running safely under Hyundai Elevator’s maintenance service. Among them is the elevator installed at the Busan International Finance Center (BIFC), the fastest in Korea at a speed of 600 meters per minute.

These achievements are credited in part to the strengthening of the Service Business Division’s functions in 2022. The Service Business Division, which had previously been dedicated to elevator maintenance work, was reorganized to also take charge of the elevator modernization (MOD) business. On top of this, the company newly established a Service Design Team and a Purchasing Team, building an integrated management system spanning sales, design, and purchasing, and maximizing synergy effects.

In particular, the MIRI service has opened a new chapter in Hyundai Elevator’s maintenance field. Launched in June last year, the MIRI service combines the Internet of Things (IoT), artificial intelligence (AI), cloud and big data, and robotics technologies to monitor elevator operating status in real time and provide information such as parts replacement cycles and abnormality signals. Since its launch it has surpassed 33,000 units and is expected to exceed 45,000 units within the year—a testament to its enthusiastic reception. When a breakdown or emergency occurs, the MIRI service simultaneously reports it to the relevant agencies and delivers real-time on-site information to the responsible technician, achieving a reduction in operational downtime of up to 43%.

Cho Jae-cheon, CEO of Hyundai Elevator, said, “Reaching the major milestone of 200,000 units under maintenance in the year of our 40th anniversary holds special meaning,” adding, “In the elevator industry, where safety is of great importance, we will do our utmost to ensure even safer elevator operation for our customers through advanced technology and service.”

▲ Hyundai Elevator held an event to commemorate surpassing 200,000 units under maintenance in the domestic elevator market.