ThyssenKrupp Elevator Korea Ltd. announced today that it has signed a contract with Hyundai E&C to supply ultra-high speed elevators for the new KFA Hall in Yeouido, Seoul.

Scheduled for completion in 2013, the KFA Hall will have six underground floors and 50 above-ground floors, and will be built in an accordion-style ultra-modern exterior to bring in as much light as possible, making it one of the most energy-saving buildings in the country.

ThyssenKrupp will supply and install a total of 37 elevators in the building, including eight ultra-high-speed elevators of up to 360 meters per minute.

This includes the country's first ultra-fast freight elevator, which can reach speeds of 300 meters per minute with a payload of 5 tons.

Due to its symbolism as an 'icon of the business world' and a landmark building in Yeouido, the KFA New Hall has been the subject of intense competition among large domestic elevator companies.

"Our rich experience in various installations in the domestic and international high-speed elevator market and our high technical capabilities based on advanced German technology were well received," said a representative from ThyssenKrupp.

ThyssenKrupp has been a leading player in the high-rise elevator market, having previously executed representative high-speed elevator projects in Korea, including Samsung Electronics Seocho Office Building, NHN Green Factory Building, and Haeundae i-Park in Busan.

With this latest win, ThyssenKrupp Korea will further strengthen its position in the traditionally strong high-speed elevator market with its unique Twin Elevator and Destination Selection Control (DSC), which is considered the most advanced military management system in history.

In addition, ThyssenKrupp has been steadily upgrading its own TAC-50K control panel based on the latest German technology, and has recently developed it to the point where it can fully control even high-speed elevators of 600 meters per minute, further enhancing its competitiveness in the domestic and international high-speed elevator market.