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Hyundai Elevator HYUNDAI ELEVATOR QUARTERLY NEWSLETTER Vol. 06 / JULY 2016 COVER STORY Winning the contract for SEASIDE CITY CEBU in the Philippines HOT ISSUE 1 Hyundai Elevator Participates in the WEE in Shanghai HOT ISSUE 2 H-1 Kick Off to Announce its Vision for Globalization COVER 01 | 02 STORY Opening up the global market through trust Winning the contract for SEASIDE CITY CEBU in the Philippines With continued economic growth, the Philippines is gaining attention as a new destination for investments. Since opening a The Philippines, a ‘VIP’ in the global economy coming to Cebu but also the locals branch office in the Philippines in 1989, Hyundai Elevator has earned the trust of the Filipino market with outstanding products Renowned as a world class holiday destination with beautiful beaches and in Cebu will be able to meet Hyundai blessed natural environment, the Philippines along with Vietnam and Indonesia Elevator’s products at the brand new and technology. As a testament to the company’s continued efforts, we would like to introduce you to the story of how Hyundai has been attracting the attention of the world as a emerging market. Dubbed landmark. Elevator won the contract for ‘SEASIDE CITY CEBU’, the 8th largest shopping mall in the world, in this Cover Story. ‘VIP’ using the first letters of each country, these three countries are seen as the next opportunity for smart investment options after the five countries known as Expanding across the Filipino market BRICs thanks to their rapid economic growth. Despite slow economic all over the using solid partnership world the Philippines has sustained its growth over the past few years. The World Hyundai Elevator was able to excel Bank pegged the country’s economic growth rate at 6.4% in 2016 and 6.2% in the in the Filipino market, including the following two years. Additionally, it forecasted the Philippines to become one of the successful contract with ‘SEASIDE CITY fastest growing economies in the Asia-Pacific region moving forward. CEBU’ project, thanks to HYCO dealers that became a base camp in the Filipino ‘SEASIDE CITY CEBU’, a new landmark in Cebu market. In 1996, Hyundai Elevator successfully signed a significant contract with the no. 1 As the official dealer for Hyundai real estate and distribution company in Philippines SM Group to supply elevators Elevator, HYCO has accompanied (140 units, worth USD 85 million). At the time, the contract value was the largest in Hyundai Elevator’s offshore endeavors terms of elevator related projects in the Philippines in a decade. and the company has grown into a solid After establishing ties with SM Group, Hyundai Elevator was able to win contracts contributor in the market maintaining at a steady pace. Beginning in October 2014, Hyundai Elevator signed a contract 16% of the Filipino market based on with SM Group for its ‘SEASIDE CITY CEBU’ project to supply 29 elevators including thorough customer management and 4m/s-velocity elevators and 72 escalators. Covering 470,000m2, SEASIDE CITY trust. Hyundai Elevator will continue CEBU remains the 3rd largest shopping mall in the Philippines and 8th largest in its best to increase its presence in the the world. It features more than 1,000 brands and labels in fashion, beauty, and Philippines through its partnership with restaurants as well as five IMAX cinemas, and an ice skating rink. Construction HYCO dealers in the future. works for SEASIDE CITY CEBU began in 2011, and the shopping mall in the lower quarters opened in November 2015. In 2016, construction for ‘SEASIDE TOWER’ featuring Hyundai Elevator’s 4m/s-velocity elevators is expected to finish and the grand opening of its shopping mall is coming soon. In particular, as the tallest building in Cebu, SEASIDE CITY CEBU is expected to become a new landmark of Cebu given that the ‘SEASIDE TOWER’ gives visitors an unobstructed view of the entire city and blue ocean. Once ‘SEASIDE CITY CEBU’ is complete, not only tourists from all over the world HOT issue 1 03 | 04 Projecting the Present and the Future of Korea No.1 Hyundai! the Elevator through Diverse Topics Hyundai Elevator displayed its core Global Hyundai! technologies based on the theme of "Korea No. 1 Hyundai, Global Hyundai". At its two-story and 483m2-sized booth, it Hyundai Elevator Participates exhibited its ultra high-speed technology, in the WEE(World Elevator & Escalator Expo)in Shanghai environmentally friendly technology and safety and advanced maintenance system. The booth was largely divided into three parts: Global HYUNDAI, Safety & Environment and High-Tech booths. The products on display included a mock-up like double-deck and ultra high-speed THE EL 1080, as well as an electricity reduction simulator, life boat system and jump elevator video, all geared towards showcasing the company's advanced many inquiries from potential customers Hyundai Elevator, which is taking a technology and industry-leading were made. The participation at the proactive approach in its attempts to initiatives. WEE indeed served as an opportunity to expand overseas in order to become In particular, a transparent type LED obtain recognition and puts the company a global top 7 company, will display glass elevator and real escalator were in a strong position to bid for orders its technology and products at diverse exhibited at the Future booth to give by Chinese government institutions by international events following on from its customers a hands-on experience. allowing it to promote our technology and participation at the 2016 WEE. This attracted much attention from the design excellence in China. audience as it enhances the interior effect in the architecture by applying LED A Fruitful Result Based Upon the glass in the elevator for the first time in Collaboration between the Korean the world. Headquarters and the Shanghai In addition, a large sized LED panel was Corporation built on the wall of the 1st floor of the One important aspect of this expo relates exhibition booth to show the installment to the imparting of a sense of ownership process of the BIFC elevator, which has among the local staff in Shanghai Hyundai the fastest speed in Korea of 10m/s, thus and giving them the chance to feel pride demonstrating and promoting the high in Hyundai as the headquarters worked speed technology at Hyundai Elevator. together with the Shanghai corporation 2016 World Elevator & Escalator Expo (WEE), the global elevator festival, was held from May 10 to May 13 in Shanghai National In addition, the K-culture video was also staff while preparing for the expo. shown to highlight Hyundai Elevator’s Some staff in the Shanghai corporation Exhibition and Convention Center. As proof of the global interest towards China, Which is the world's largest elevator market, position as Korea's No. 1 company. fully partook in the expo - from the a total of 1,054 elevator producers and accessory companies from 50 countries participated in the event, in which a total of A service zone was set up on the 2nd exhibition production to the installment, 120 thousand people attended for four days straight. Hyundai Elevator, which has adopted an aggressive strategy towards the floor at the business center so that and 26 selling agents acclaimed for their visitors could come conveniently for excellent performance were invited and Chinese market to achieve market share expansion in the global market, attended the 2016 WEE to meet with clients in China consultations. given the chance to talk about domestic and in other markets. Here are some of the scenes from Hyundai Elevator's activities at the 2016 WEE. Through this exhibition opportunity, demand for products in China. HOT issue 2 05 | 06 Hyundai Elevator Announces Its Goal to including the company's strategy Hyundai Elevator Reaches out Become a Global Top 7 Company at the announcement for globalization and Globalzation Proclamation Ceremony the declaration for globalization by the to the World In April 19, Hyundai Elevator held a headquarter chief and the employee globalization proclamation ceremony in representative. In addition, the overseas H-1 Kick Off to Announce its Vision for Globalization its headquarters in Icheon, Korea and office staff members, sales agency staff announced its strategies for becoming a and client companies' representatives In addition, Hyundai Elevator has global top 7 company by 2030. sent their congratulatory messages, established a task force team CEO Bob Jang said, "Our globalization creating the opportunity for all of Hyundai concentrating on production, purchase, strategy is critical for acquiring Elevator's family members to get design, product development, quality sustainable momentum," adding, "we together. and support for company engagement in will become a global top 7 company the H-1 project. The company also held based upon long term management H-1 Project Kick off a kick off event to announce the launch goals through an efficient operational In the first phase of the globalization, of H-1 on May 31 at the main stadium of system and product competitiveness." Hyundai Elevator will promote Icheon. To achieve its goal, Hyundai Elevator companywide cost innovation through The event was attended by CEO Bob Jang will select 10 global markets out of its H-1 project, which deals with and the head of each department, as well its current 62 export target markets operational excellence for efficient as the top management and employees based upon market attractiveness and operational management and product of the headquarter office; everyone accessibility; the prioritized markets competitiveness. displayed their resolution for the success include India, Turkey and Saudi Arabia. H-1 project is an operational excellence of the project. Prior to the ceremony, a It will also begin its plan to build local innovation program that realizes cost public contest targeting the employees offices in 10 markets by 2020.
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