Hyundai Construction to Accept Entries for '2022 Technology Contest' Until May 15

Applications accepted through Hyundai Construction website from March 1 to April 15
Document screening in May, presentation screening in June, award winners announced in September
15 outstanding technologies selected, total prize money of 50 million KRW and plaques awarded

[Asia Economy Reporter Jo Gang-wook] Hyundai Construction is taking the initiative to discover institutions with excellent technology, promote win-win cooperation, and contribute to the future development of construction technology.

Hyundai Construction announced on the 1st that it will accept submissions for the '2022 Hyundai Construction Technology Contest' from domestic companies, universities, and research institutes until the 15th of next month.

The submission fields include ▲ cost reduction technologies (civil engineering/architecture/housing/plant construction methods/equipment development) ▲ differentiated construction technologies (smart construction, new growth businesses), which are technologies directly applicable to construction sites. Related documents, including the proposal for the technology contest, can be submitted through the Hyundai Construction website within the period.

Submitted entries will undergo document screening in May and presentation screening in June, evaluated based on criteria such as idea excellence, development necessity, economic feasibility, and creativity.

The winners will be announced in September. Up to 15 teams will be selected, including one grand prize winner, four excellence awards, and ten encouragement awards. Winning teams will receive a total prize money of 50 million KRW, plaques, and various benefits.

If a small or medium-sized enterprise wins, it will receive research and development funding of around 100 million KRW, along with technology mentoring, opportunities to apply technology verification at construction sites, and chances to register as a partner company. If a university or research institute wins, additional consultations and internal reviews will be conducted to provide opportunities for research and development cooperation with Hyundai Construction Technology Institute.

Meanwhile, the Hyundai Construction Technology Contest has been held for over 10 years since 2008 and is the best construction technology contest in Korea. Last year, a total of 157 diverse technology ideas were submitted from 141 institutions, and 15 excellent technologies were selected.

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