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Hyundai Rotem

From Wikipedia, the free encyclopedia
For other uses, see Rotem (disambiguation).
Hyundai Rotem Company
Native name
현대로템 주식회사
Formerly
  • Korea Rolling Stock Corporation (1999–2001);
  • Rotem (2002–2007)
Company typePublic
KRX: 064350
Industry
PredecessorsRolling stock divisions of Hyundai Precision & Industries, Daewoo Heavy Industries, and Hanjin Heavy Industries
Founded
  • 1 July 1977; 47 years ago (1977-07-01) (as a division of Hyundai Heavy Industries)
  • 1 July 1999; 25 years ago (1999-07-01) (as Korea Rolling Stock Corporation)
HeadquartersUiwang, Gyeonggi-do, South Korea
Area served
Worldwide
Key people
  • Lee Yong-bae (CEO)
Products
RevenueIncrease ₩3.1633 trillion[1] (2022)
Increase ₩147.5 billion[1] (2022)
Increase ₩194.5 billion[1] (2022)
Total assetsIncrease ₩4.8239 trillion[1] (2022)
Total equityIncrease ₩1.4915 trillion[1] (2022)
Owner
Number of employees
3,800
ParentHyundai Motor Group
SubsidiariesEUROTEM
WebsiteOfficial website in English
Official website in Korean
Hyundai Rotem
Hangul
현대로템
Revised RomanizationHyeondae Rotem
McCune–ReischauerHyŏndae Rot'em

Hyundai Rotem Company (Korean: 현대로템; RR: Hyeondae Rotem) is a South Korean company that manufactures rolling stock, defense products and plant equipment. It is a member of Hyundai Motor Group.

History

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The company was founded in 1977. In 1999, the company changed its name to Korea Rolling Stock Corporation (KOROS) as a result of the merging between three major rolling stock divisions: Hanjin Heavy Industries, Daewoo Heavy Industries and Hyundai Precision & Industries. The company subsequently changed its name to Railroad Technology System, or Rotem, on 1 January 2002.[2] It adopted its current name in December 2007 to reflect its current parent company.[3]

Hyundai Rotem currently employs 3,800 people and exports to 50 countries worldwide.

Corporate Governance

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As of December 2023

Shareholder Stake (%) Flag
Hyundai Motor Company 33.8%
National Pension Service 7.7%

Railway products

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Notable projects include supplying majority of South Korea's rolling stock, which include Korail's KTX high speed trains, electric multiple units (EMUs), and electric locomotives. Other products in South Korea include supplying majority of Seoul Metro, Seoul Metropolitan Rapid Transit, Busan Metro Lines, and Shinbundang Line's rolling stock.

International products include Hong Kong MTR's K-Stock and R-Stock EMUs, commuter EMUs for Taiwan, trains for the New Delhi Metro, and automated trains for the Canada Line in Vancouver, Canada. It delivered 120 Silverliner V commuter trains for SEPTA Regional Rail in the Philadelphia, Pennsylvania area and 66 Silverliner Vs for Regional Transportation District (RTD)'s A Line.[4]

High-speed trains

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South Korea's KTX-Eum

Diesel multiple units (DMUs)

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IÉ 22000 Class in Ireland

Regional / Intercity EMUs

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New South Wales D set in Australia

Metro EMUs

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Seoul Subway Line 1 vehicle
MTR R-train in Hong Kong

Trams and light rail vehicles

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Hyundai Rotem tram in Warsaw

Electric locomotives

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TCDD E68000 electric locomotive in Turkey

Diesel-electric locomotives

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Push-pull coaches

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Metrolink Hyundai Rotem bi-level car

Maglev trains

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ECOBEE on the Incheon Airport Maglev

Defense products

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K1 main battle tank
K2 Black Panther main battle tank

Plant and Machinery products

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  • Mechanical press, Hydraulic press, Auto racking system
  • Electric arc furnace – Steel
  • Ladle furnace
  • Cranes
  • Passenger boarding bridges
  • Plant construction

Selected railway projects

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Hyderabad Metro

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Hyderabad Metro Rail announced on September 12, 2012, that it has awarded the rolling stock tender to Hyundai Rotem of South Korea. The tender is for 57 rakes consisting of 171 cars which will delivered phase wise at least 9 months before the commencement of each stage. On 22 May 2014 the first train had arrived at Uppal depot in Hyderabad. On 31 December 2014, Hyderabad Metro created a new technology record by successfully running a train in Automatic Train Operation (ATO) mode for the first time on Indian soil between Nagole and Mettuguda.[10]

Istanbul Marmaray

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Hyundai Rotem announced on November 11, 2008, that it had signed a €580m contract to supply the rolling stock for the Marmaray cross-Bosporus tunnel project in Istanbul. The Korean firm saw off competition from short-listed bidders Alstom, CAF and a consortium of Bombardier, Siemens and Nurol for the 440-vehicle contract which was placed by the Ministry of Transport's General Directorate of Railways, Harbours & Airports.

The 22 m long stainless steel cars will be formed into 10 and five-car EMUs. Some production will be carried out locally by Eurotem, Hyundai Rotem's joint venture with Turkish rolling stock manufacturer TÜVASAŞ. The cars will arrive in three batches, the first 160 cars by 2011, the last by June 2014.

Hyundai Rotem won its first contract in Turkey in 1996, and has now completed seven orders for a total of 804 vehicles worth US$1·6bn. In July it signed a contract to provide 84 DMUs in conjunction with Tüvasas.

'Hyundai Rotem has earned the trust of Turkey by providing high quality products and technology', said Executive Vice-chairman Yeo-Sung Lee. 'We believe this brightens the outlook for future business opportunities in Turkey such as the Istanbul line and the Ankara line.'

Boston MBTA

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Hyundai Rotem was awarded a contract with Boston's MBTA in early 2008 for the construction of 75 cars. The contract entails the delivery of the first 4 cars by October 2010 while the remaining 71 cars were scheduled to be delivered by the end of 2012. However, due to chronic delays, shoddy workmanship, material shortage, and the death of Hyundai Rotem's chief executive, M.H. Lee, in November 2012, only four cars have been delivered by the end of 2012. On December 21, 2012, the MBTA sent a letter to Hyundai Rotem threatening to cancel the contract if a solution is not soon reached, which, would be a breach of the contract terms.[11] Since then, the new cars have continued to experience various mechanical problems resulting in car shortages and delays.[12]

See also

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References

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  1. ^ a b c d e f g h i "HYUNDAI ROTEM 064350". FnGuide. 2022. Archived from the original on 26 January 2024. Retrieved 26 January 2024.
  2. ^ "HYUNDAI ROTEM". www.hyundai-rotem.co.kr. Archived from the original on 2013-11-05. Retrieved 2017-04-26.
  3. ^ 현대로템㈜ ‘08년 해외수주 2조원 진입 [Hyundai Rotem Co., Ltd. '08 Overseas Orders Reach 2 Trillion Won]. Hyundai Rotem (in Korean). 4 December 2007. Archived from the original on 23 January 2025. Retrieved 23 January 2025.
  4. ^ "Philly railcar maker Hyundai Rotem gives up and leaves town". Philadelphia Inquirer. 2018-08-17.
  5. ^ "韩国现代Rotem获颁裕廊区域线62列列车合约". Zaobao. 6 February 2020.
  6. ^ 民視英語新聞 Taiwan News Formosa TV (2024-03-26). Taipei Metro to acquire new state-of-the-art trains from South Korea｜Taiwan News. Retrieved 2024-07-20 – via YouTube.
  7. ^ "Hyundai Rotem Wins $664MM LA Metro Order". Railway Age. 2024-02-06. Retrieved 2024-02-09.
  8. ^ Sukarno, Puput Ady (2017-02-02). "Hyundai Rotem Pemenang Tender Rolling Stock LRT DKI Jakarta". Bisnis.com (in Indonesian). Retrieved 2024-10-10.
  9. ^ "LRT Jakarta". www.lrtjakarta.co.id. Retrieved 2024-10-10.
  10. ^ "Metro rail goes on first automatic trial run". The Hindu. Retrieved 2017-04-26.
  11. ^ Moskowitz, Eric. "MBTA threatens to cancel $190m deal for rail cars". Boston Globe. Retrieved 10 January 2013.
  12. ^ Powers, Martine. "MBTA's new rail cars heading for a retooling". Boston Globe. Retrieved 6 April 2017.
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