Ground Floor

Işıklar Holding, STFA And The Korean Giant Hyundai Elevator Have Signed A Partnership Agreement

Making a powerful entry into the Turkish Market in 2010, the Korean Giant Hyundai Elevator; carried its decision to invest in Turkey one step further with the partnership agreement it has signed. While our country overcome these days through national unity, this agreement indicates that international investors continue to trust in Turkey. The company, with 51 percent of the shares in the new structuring will continue its activities as Hyundai Elevator Turkiye.Hyundai’s achieving its highest success rate outside Korea, China and India in our country with Işıklar Holding and STFA Group was instrumental in this decision.

Carrying out big and high-quality projects in the World such as subways and train stations as well as various airports, business centers and skyscrapers, Hyundai Elevator continues to rise with Işıklar Holding and STFA Group collaboration in Turkey, which it considers as an example of a successful foreign market among its global operations. Considering Turkey as a successful example of the market, Hyundai Elevator, has signed a partnership agreement with Işıklar Holding and STFA Group, which has carried Hyundai brand to the top positions in the 1 billion-dollar elevator industry in Turkey in a short time since 2010. With the partnership agreement, Hyundai Elevator Co. Ltd. has owned in a rate of 51 percent majority stake. Hyundai Elevator; which includes production opportunities in the future periods, is planning to  position Turkey as a base to manage the Balkans and the Eastern European market.

In the signing ceremony that was held at STFA Holding on July 19, 2016; Hyundai Elevator CEO Bob Jang, Hyundai Elevator CSO Crispino KJ Song, Hyundai Elevator's Head of Global Strategy & Dev. Dept. Hanbaek Joe, Işıklar Holding Vice Chairman Uğur Işık, STFA Group Board Member Alp Taşkent, STFA Group CEO Yetik Kadri Mert, Hyundai Elevator Turkiye Managing Director Hakan Ek participated.

STFA Group CEO Yetik Kadri Mert, who stated that it is a pleasure to contribute to Turkey's becoming a center of attraction for foreign investors, made the following assessments regarding cooperation with Hyundai: “With the successful projects and high success rate we have achieved since 2010, when we received Hyundai Elevator’s representation, we have been experiencing the satisfaction of making our country attractive in terms of an international investment. Hyundai, which gives special emphasis to China, India and Turkey market, has been planning to make investments in Turkey for a long time. With this cooperation, which includes utilizing production opportunities in the future periods, as well, we will keep putting our signature under successful projects with our quality products and services from now on like we have been doing up to the present day.”

Hyundai Elevator CEO Bob Jang said; “Işıklar Holding and STFA Group has been a great partner with Hyundai Elevator all the way through since 2010, and has been successful in introducing and positioning Hyundai Elevator as a leading quality brand.

I believe our joint venture would form a stronger business platform to meet rapidly growing customer needs in quality and service in Turkey.”


Hyundai Elevator, which entered the Turkey market in 2010; has also continued success and growth here as it has achieved it with its strong references on the Earth. Putting its signature under important and big projects in a short span of time, Hyundai Elevator Turkiye has become one of the preferred brands of top priority in the sector in the past six years.

Hyundai Elevator Turkiye, creating difference with advanced technology products it possesses in many different and prestigious projects such as Metropol Istanbul, Diyarbakır Airport, Üsküdar-Çekmeköy Subway line, Folkart Towers, Nidakule Ataşehir-Levent, Varyap Meridian, Water Garden, Manzara Adalar, İSTMarina, İstanbul Palace of Justice, Ülker Sports Arena, Nurol Tower, and Sarphan Finance Park, has managed to come forward among Hyundai's global operations with its successful rate.

Hyundai Elevator has carried its first subway Project in Europe into effect by winning the tender of İstanbul subway’s Üsküdar – Ümraniye – Çekmeköy line. The 253 units - 192 escalators and 61 elevators in total in 16 stations on 20 km- subway line in the Project will bear the signature of HYUNDAI.


Hyundai Elevator Turkiye which actively takes place in the high speed elevator segment in especially 25-floor and over buildings, has been taking part in the market with also products suitable to low rise segment recently. Automatic parking systems, metro platform doors and materials loading and unloading systems as well as elevators, escalators and moving walkways are also included among Hyundai Elevator ’s products.

Having performed 2 times as much growth in 2015 compared to the previous year, Hyundai Elevator Turkiye has strengthened its position in the market by taking place in subway, airport, financial center and the city hospital projects. Hyundai Elevator Turkiye, which is growing with $ 84 million-dollar contract new businesses and projects at present, conducted 1000 units of sales just in 2015.