Hyundai Elevator announced in a regulatory filing on the 3rd that it is temporarily suspending elevator manufacturing and other production at its Chungju plant due to a strike related to collective bargaining negotiations.

The company cited the strike related to collective bargaining as the official reason for the production halt. Consequently, temporary disruptions are expected in the elevator manufacturing process at the Chungju plant.

The financial impact of this production suspension is expected to be substantial. On a 2025 consolidated basis, revenue from the material handling equipment manufacturing business at the facility amounted to 1.31206471168 trillion won, accounting for 53.2% of Hyundai Elevator's total consolidated revenue of 2.467378018763 trillion won for 2025.

The official production suspension date and the board of directors' decision date are both August 3, 2026. The timing for normal production resumption remains undetermined at this point. The company plans to file a follow-up corrective disclosure when an agreement is reached between labor and management and production resumes. Additionally, it noted that the disclosure details may change depending on future internal circumstances.