Published : Oct. 25, 2016 - 15:51
Hyundai Engineering and Construction has gradually expanded investment in research and development since 2011 in an effort to lead the global construction market, the company said Tuesday.
Since April 2011, the company started to expand its original technology research center and labs. This led to a 175 percent surge of R&D costs to 27.7 billion won ($24.4 million) over the past five years.
The third Bosphorus bridge that Hyundai E&C built in Turkey (Hyundai E&C)
In December 2014, the company also opened Green Smart Innovation Center in Yongin, Gyeonggi Province, to conduct various experiments over some 100 green energy-related technology.
With an aim to commercialize the zero-energy technology at the market, the company has also self-developed its “smart construction energy management system” that allows it to minimize energy use.
To better develop future core technology, Hyundai E&C is pushing for joint projects with 25 foreign institutions.
In January this year, the company opened a joint research center at Nanyang Technological University in Singapore to lead five government-led projects for the next three years.
Having recognized the continuous efforts in boosting the technology, the company’s ranking in the Engineering News Record climbed to No. 13 this year by jumping 46 steps in eight years, standing as No. 1 in the local construction market.