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MOU

GS Engineering, Hyundai Elevator to Develop Modular Elevators

Dong-A Ilbo | Updated 2026.04.09
On the 9th, Heo Yoon-hong, CEO of GS Engineering & Construction (left in photo), and Cho Jae-cheon, CEO of Hyundai Elevator, pose for a commemorative photograph after signing a business agreement. Provided by GS E&C
GS Engineering & Construction (GS E&C) announced on the 9th that it had signed a memorandum of understanding (MOU) with Hyundai Elevator for the development of elevator technologies specialized for modular housing.

The signing ceremony was held at Hyundai Elevator’s Smart Campus in Chungju, North Chungcheong Province, and was attended by GS E&C CEO Heo Yoon-hong, Hyundai Elevator CEO Cho Jae-cheon, and other officials from both companies.

This agreement was pursued with the aim of advancing technologies to fully scale up the modular multi-family housing business. The two companies plan to jointly develop elevator designs optimized not only for conventional reinforced concrete structures but also for modular apartment buildings.

The “modular elevator” being developed by the companies is a method in which the elevator frame and major components are pre-assembled at the factory and then installed on site in modular units. GS E&C stated that, through this approach, it expects to minimize on-site welding work and secure consistent quality regardless of workers’ skill levels.

Another feature is that high-elevation work can be reduced by up to 90%, improving safety, while minimizing interference between work processes to secure continuity of construction. The elevator installation process, which typically takes about 190 days, is expected to be shortened by up to 80% for on-site installation when this method is applied.

This technology is scheduled to be applied on a pilot basis to the integrated private-participation public housing project for the Siheung Geomo A-1 Block, which GS E&C won in December last year. The complex will consist of a total of six buildings with 801 units, including three buildings with steel modular structures. In particular, one of the modular buildings will be up to 14 stories high and, upon completion, is expected to become the tallest steel modular apartment building in Korea.

Through this agreement, GS E&C plans to link its modular construction technologies with Hyundai Elevator’s elevator technologies to promote process standardization and market expansion.

GS E&C CEO Heo Yoon-hong said, “By combining the technological capabilities of both companies, we will elevate productivity, safety, and quality at construction sites to the next level,” adding, “We will maximize the strengths of modular construction methods to strengthen our business competitiveness.”

Hwang So-young

AI-translated with ChatGPT. Provided as is; original Korean text prevails.
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