Hyundai Construction Selects 12 Outstanding Technologies in the '2020 Technology Contest'

[Asia Economy Reporter Yuri Kim] Hyundai Engineering & Construction announced on the 7th that it has selected a total of 12 outstanding technologies in the '2020 Hyundai E&C Technology Contest,' held to discover domestic small and medium-sized enterprises (SMEs) with excellent technologies.

The awarded technologies include five cost-saving technologies that can reduce material costs and working hours, such as the "Technology for Applying Cement-based Permanent Formwork to Culverts" and the "Thin-layer Bridge Surface Pavement System," as well as seven construction differentiation technologies, including the "BIM-based Underground Facility Construction Management System for Residential Land Development" and the "PC (Precast Concrete) Formwork Manufacturing Technology Using 3D Printing Technology."

A total of 117 technologies were submitted by 110 domestic SMEs from July 13 to August 31 through the Hyundai E&C website. Hyundai E&C stated that the winners were selected after a rigorous evaluation of technological excellence, economic feasibility, and business potential.

The technologies selected through this contest will receive research funding support and R&D collaboration worth approximately 1.1 billion KRW over one year (up to 100 million KRW per technology). Technologies at the completion stage will be provided with suitable construction sites for effectiveness verification, and after supplementing deficiencies and improving applicability, opportunities for commercialization will be offered. Technologies requiring further development will undergo R&D collaboration through mentoring by Hyundai E&C researchers to enhance the technological capabilities of SMEs.

Hyundai E&C stated, "Since 2008, under the name 'Hyundai E&C Technology Competition,' we have supported the application of winning technologies on-site and the filing and registration of patents, while registering winning companies as partners to continuously create a platform for win-win cooperation with SMEs." A representative from Hyundai E&C Technology Research Institute said, "We will continue to build sustainable cooperative relationships for mutual growth with SMEs possessing excellent technologies through open innovation such as technology contests."

This content was produced with the assistance of AI translation services.