December 04, 2016 4:20 PM ET

Machinery

Company Overview of Otis Elevator Korea Co. Ltd.

Company Overview

Otis Elevator Korea Co. Ltd. manufactures and installs elevators and escalators. The company was formerly known as OTIS-LG Elevator Company and changed its name to Otis Elevator Korea Co. Ltd. in October, 2005. The company was founded in 1968 and is based in Seoul, South Korea. Otis Elevator Korea Co. Ltd. operates as a subsidiary of United Technologies Corporation.

6-8F. Two IFC,10

Gukjegeumyung-ro

Youngdeungpo-gu

Seoul,  07326

South Korea

Founded in 1968

Phone:

82 2 2007 5800

Key Executives for Otis Elevator Korea Co. Ltd.

Chief Operating Officer
Compensation as of Fiscal Year 2016.

Otis Elevator Korea Co. Ltd. Key Developments

Otis Elevator Korea Co. Ltd. Installs Double-Deck Elevator in the Lotte World Tower

Otis Elevator Korea Co. Ltd. has installed the double-deck elevator in the Lotte World Tower. The elevator runs 496 meters from the second basement to the building's observation deck on the 121st floor. Using a single hoistway, it can carry 54 passengers to the observation deck in one minute. Otis Elevator Korea recently completed the installation of the 100-ton traction machine that powers the elevator. The Lotte World Tower is Korea's tallest building at 555 meters. It is expected to be completed this year and will include 11 Otis Skyway elevators equipped with special seismic sensors that monitor the building's movement from wind and potential earthquakes, and can quickly move passengers in the event of an emergency. In addition, Otis Elevator Korea provided 19 Gen2 Dynamic elevators and 17 escalators. Four of the Otis elevators are designed to provide escape routes in emergencies, such as fire.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
March 28, 2016
Otis Service LLC
 

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