The elevator industry is booming as apartments built for the Olympics in the late 80s and early 90s are being replaced. However, when the lid was opened, it became a feast for the multinational elevator companies that entered the country, and the domestic small and medium-sized elevator companies are still not out of the downturn. This is especially true in the elevator maintenance industry, where the subcontracting system is prevalent.

Kim Sun-tae, president of Shinkwang Elevator, said, "The elevator repair industry is 100% subcontracted. The repair industry is important for the smooth distribution of elevator parts, but due to the domination of large companies, it is difficult to purchase parts, so most small companies choose to subcontract in a 'cry and eat mustard' style." "In particular, the formula of the lowest remuneration fee based on the lowest bid eventually promotes insolvency, and the arrow eventually hits the entire repair industry," he said, pointing out the current behavior of the elevator industry.

"Subcontracting is a blight on the industry. However, some companies are turning into complacent, passive, and dependent companies because of the problem of smooth supply of parts and the fact that they can secure volumes without effort." He expressed his frustration.

As a countermeasure, he stressed that the free circulation of parts and the supervision of repair companies in the market should be delegated to relevant organizations to establish order after the fact to achieve self-regulation, which is the only way to eradicate the excessive competition in the repair industry.

Shinkwang Elevator Co., Ltd. (CEO Kim Sun-tae, hereinafter referred to as Shinkwang), based in Songpa-gu, Seoul, is a leading elevator maintenance company in the field of maintenance and elevator remodeling. The company, which has opened a research center and is committed to continuous research on elevators, is currently certified for elevator maintenance quality by the Ministry of the Interior and Safety and registered as an Innobiz and venture company.

In addition, CEO Kim Sun-tae recently became the only person in the elevator industry to hold a doctorate degree, upgrading the image of the small and medium-sized elevator repair industry.

Through his constant research, Shinkwang has developed and applied for a patent for a technology that recognizes danger in elevators, which will be commercialized soon.

The product attaches sensors to the elevator car and sends an alarm sound to the maintenance control room in case of danger, which the control room can check on the monitor and immediately contact the police and other relevant agencies to prevent the crime.

The process takes less than a minute, and the control room can even remotely control the elevator to trap the criminal in the car.

"This product was developed to turn elevators, which are often stigmatized as a crime blind spot, into a safe mode of transportation," said Kim, adding that the in-car alarm can also prevent crimes in advance. Shinkwang is also close to developing a solar elevator, an eco-friendly material that minimizes power consumption.

With more than 1,500 elevators under maintenance, Xinguang prioritizes quick response when it comes to maintenance. In the current elevator maintenance market, most malfunctions are handled by user reports, but Shinkwang has introduced a proactive management system, categorizing sites and having employees make frequent rounds to inspect them. As a result, the company says, the failure rate has been drastically reduced, with zero safety accidents, and the response from users has also increased.

Mr. Kim said, "We have always invested heavily in training and improving the skills of our employees. As a result, word of mouth has spread among building owners, and the volume is constantly increasing," said Kim.

This year, Shinkuang, which has made it a top priority to train its employees and improve their technical skills, is working tirelessly to ensure that the equals sign of 'elevator maintenance management = Shinkuang' is established with the safety of users as its motto.