1. Tower Palace 1-Cha
2001: Tower Palace 1-Cha, the highest building in Korea (234m) at the time, was built with an elevator with a speed of 240m/min.
2. Expansion by foreign elevator companies
1999: LG and OTIS established a joint venture (currently Otis Elevator).
2003: Joong-Ang Elevator acquired by Schindler Elevator of Switzerland.
2003: Dongyang Elevator acquired by ThyssenKrupp Elevator of Germany.
2004: KONE Elevators Korea established by KONE Oyj of Finland.
3. Cumulative number of elevators in Korea reaches 400,000
2008: The 400,000th elevator was installed in Korea (cumulative total, including 21,000 escalators).
4. Construction of the world's highest elevator test tower
2009: The Manufacture and Management of Elevators Act was amended as the Elevator Facilities Safety Management Act, with the competent Ministry changed from the Ministry of Knowledge Economy to the Ministry of Public Administration and Security.
The world's highest elevator test tower was completed (Hyundai Asan Tower, 205m)
Hyundai Asan Tower
5. Holding of Korea Lift Safety Expo
Korea Lift College was established (251 students enrolled in 5 departments).
Hyundai Elevator developed the world's fastest elevator capable of moving 1,080m per minute.
Korea Lift Safety Expo was held in 2010 to celebrate the 100th anniversary of the first elevator in Korea.
Korea lift College