Hyundai Construction Hosts 2023 Technology Contest

Discovering up to 15 Promising Construction Technologies
Additional Benefits for Outstanding Technology Institutions

Hyundai Engineering & Construction announced on the 2nd that it will hold the '2023 Hyundai E&C Technology Contest' to discover future growth engines in the construction industry and to foster win-win cooperation with companies, universities, and research institutes possessing excellent capabilities.

The Hyundai E&C Technology Contest has been held for 16 years since 2008, with 138 companies and 58 universities and research institutes having won awards so far.

The contest is open to small, medium, and large enterprises as well as universities and research institutes that have outstanding technological ideas. The application fields include ▲smart construction technology ▲cost reduction technology ▲future new business area technologies, all applicable to construction sites.

Applications can be submitted by uploading the relevant documents through the technology contest portal on the Hyundai E&C website by the 31st. Based on criteria such as idea excellence, necessity, economic feasibility, and creativity, document screening will be conducted in June, presentation evaluation in July, and the final winners will be announced in September.

Hyundai E&C plans to select up to 15 teams, including one grand prize winner, four excellence award winners, and several encouragement award winners. Prize money totaling 50 million KRW and plaques will be awarded, with the grand prize receiving 10 million KRW and the excellence awards 5 million KRW each.

Among the final selected institutions, those proposing outstanding technologies will receive additional benefits. For small and medium enterprises, after further internal review, research and development funds of up to 100 million KRW per project will be provided on a differential basis, along with benefits such as technology mentoring, provision of technology verification sites, and opportunities for partner registration. For universities and research institutes, additional consultations and internal reviews will be conducted to proceed with research cooperation with Hyundai E&C’s Technology Research Institute.

A Hyundai E&C official stated, “Through the 2023 Hyundai E&C Technology Contest, we will discover and develop excellent ideas that can change the future of the construction industry and support their application in actual sites. We ask for active participation to achieve mutual growth through cooperation with companies, universities, and research institutes.”

Meanwhile, last year’s technology contest received a total of 142 diverse technological ideas from 124 institutions, with 16 final winners selected (1 grand prize, 4 excellence awards, and 11 encouragement awards). Among the selected companies, 8 that proposed items contributing to the advancement of construction technology are also receiving various benefits such as a total of 620 million KRW in research and development funds and technology mentoring over one year.

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