Gyg, Korea?s Top Lift Brand Eyes Cambodian Market

• Proeksa Meas
• 31 December 2015
• Construction Focus
• 2946 Views

Having been impressed with Cambodia’s fast growing construction industry, GumYoung General Co., Ltd (GYG), one of Korea’s leading lift makers, is exploring opportunities to enter this thriving market.

Established in 1996 by collaborating with U.S. based Hollister-Whitney Elevator Corp, GYG was ranked 5th in the Korean market in 2013, while Korea is recognized as the 5th biggest elevator market in the world. GYG is seeking qualified partner(s) in Cambodia to distribute its products on the Cambodian market as the number of tall buildings rapidly grows.

“Like other markets in Myanmar and Bangladesh, GYG will enter the Cambodian market and establish success with our partner company with the reputation for good quality and a safe elevator brand,” says Anton Kim, Manager of GYG’s Overseas Business Department.

The partner that GYG is seeking is a well-organized firm with their own installation and maintenance team, good networks with construction companies, profound business experience with overseas elevator companies, and have the passion and confidence to promote and sell genuine Korean-made lift products.

Kim, who recommends interested firms to contact GYG directly or via the Korea Trade-Investment Promotion Agency (KOTRA) office in Cambodia, believes that customers in Cambodia will be satisfied with the quality after the first GYG-brand lift is installed on their project. After that more projects will apply the brand to their projects.

“We will provide a good quality brand and safety for customers in Cambodia. Of course, we will try our best to provide a reasonable price with our future partner company in Cambodia,” he added.

GYG products range from passenger lifts, observation lifts, hospital lifts, and freight and car lifts to elevator entrances, escalators, and rope grippers.

After rapid growth in the Korean market, GYG expanded to overseas markets in 2003 and is now doing businesses in 15 countries including Iran, Azerbaijan, Jordan, Vietnam, Bangladesh, Dubai, and Iraq. Their portfolio includes dozens of iconic projects such as the Daewoo construction luxury apartments in Korea and the Imam Khomeini International Hotel in Iran.

“While many renowned multinational lift brands are eager to increasingly source materials and parts from China and Southeast Asian territories to reduce costs, GYG’s strong point is the continuing of its basic policy of real made-in-Korea elevators and maintaining good quality and safety by sourcing all equipment/materials domestically,” said Kim.

“Among our partners, no-one been dissatisfied after they have installed the 1st project,” he said, “It means customers and our partners are all satisfied with our product after installation, because they can recognize the difference in quality.”

Because of its excellent quality, GYG has been registered as a qualified elevator supplier for many big construction firms including Daewoo, GS (LG), Lotte, Doosan, Gumho, and Daelim.

GYG has won various certificates and prizes including the Excellent Product Brand Mark in January 2014 from the Seoul Metropolitan Government and the Seoul Business Agency, and the Excellent Quality Competitiveness Enterprise Award for 9 years in a row from 2006 to 2014 from the Korean Ministry of Trade and Korean Standards Association. Anton Kim believes GYG Elevator will soon be qualified enough to enter “the hall of fame” this year by proudly receiving this award for 10 years in a row.

GYG was also selected as a Good Design Product in 2012 by the Korean Institute of Design Promotion (KIDP) under the Ministry of Knowledge Economy.

“Currently our R&D department is devoting themselves to designs of distinct characteristics while also struggling for more refined products to satisfy our customers,” he said “GYG will never stop endeavoring to present the best products possible.”

GYG has set its vision to be ranked Korea’s No. 1 elevator maker and one of the top elevator makers in the world by 2020 with annual sales of over 20,000 units. It also aims to produce better quality products with a more varied range???.