Manufacturing plants
Military vehicles
Railway vehicles
Railway signalling
revenue
‡R3R‡
revenue year
2024
operating income
‡R3R‡
income year
2024
net income
‡R3R‡
net income year
2024
assets
‡R3R‡
assets year
2024
equity
‡R3R‡
equity year
2024
owners
Hyundai Motor Company (33.77%)‡R3R‡
National Pension Service (8.08%)‡R3R‡
Employee stock ownership (0.01%)‡R3R‡
num employees
4,190‡R4R‡
num employees year
2024
subsid
EUROTEM
website
Official website in English Official website in Korean
Hyundai Rotem Company, often referred to as Hyundai Rotem, is a South Korean manufacturer of railway rolling stock, railway signalling, defense products and plant equipment.It is a member of Hyundai Motor Group and has presence in more than 50 countries worldwide.[2] As of 2024, Hyundai Rotem has more than 4,100 employees.[4]
History
As part of the government-led restructuring[5] in the wake of 1997 Asian financial crisis,[6] Korea Rolling Stock Corporation (KOROS, ) was founded on 1 July 1999[7][8][9] as a result of the merger between three major rolling stock divisions of Hanjin Heavy Industries, Daewoo Heavy Industries, and Hyundai Precision Industry.[10][9]
In 2000, Hyundai Precision Industry sold its defence and plant businesses to KOROS, effectively making KOROS an affiliate company of Hyundai Motor Company.[5] Hyundai Precision Industry was renamed as Hyundai Mobis in the same year.[11] In August 2001, in an aftermath of Daewoo Group's dissolution,[12] Daewoo Heavy Industries agreed to sell its stake in KOROS to Hyundai Mobis, which let the latter become the majority shareholder of the company.[13] KOROS subsequently changed its name to Rotem Company, where "Rotem" is known to be short for "Railroading Technology System",[14][15] on 1 January 2002.[8]
In 2006, Morgan Stanley became a minority shareholder by buying shares from Hyundai Motor Company and participating in Rotem's rights offering,[18][19] until 2018.[19][20] In a separate event in the same year, Hanjin Heavy Industries sold its stake in Rotem to Morgan Stanley,[5][12] leaving Hyundai Motor Group the only remaining pre-1999 merger corporate shareholder.Rotem Company added "Hyundai" (현대; 現代) to its name on 3 December 2007 to reflect its current affiliation.[21] Its shares are listed in the Korea Exchange in October 2013.[22]
While Hyundai Rotem officially designated its founding date as 1 July 1977,[2] which was also the time when "Hyundai Precision Industry" was officially named,[23] in certain of its publications, it tried to trace its roots to the rolling stock business of other pre-1999 merger entities, which started building rolling stock since 1964.[24]
Railway products
Rolling stock
Hyundai Rotem has been supplying majority of rolling stock in South Korea's railway network. They include Korail's KTXhigh-speed trains, electric multiple units (EMUs), and locomotives, and also SRT high-speed trains operated by SR Corporation, as well as the country's rapid transit networks, such as Seoul Metropolitan Subway, Busan Metro, and Daegu Metro.
International products include New South Wales D sets serving intercity services of Sydney Trains in Australia, K-Stock and R-Stock EMUs for Hong Kong's MTR, commuter EMUs for Taiwan, trains for the Delhi Metro, and automated trains for the Canada Line in Vancouver, Canada.In the United States, as of early 2025, it delivered 120 Silverliner V commuter trains for SEPTA Regional Rail in the Philadelphia area in Pennsylvania and 66 Silverliner Vs for Regional Transportation District (RTD)'s A Line.[25]
Defense products
K1 main battle tank (MBT)
K1 armoured recovery vehicle (ARV)
K2 Black Panther MBT
K600 Rhino combat engineering vehicle (CEV)
K808 White Tiger armored personnel carrier (APC)
K806 White Tiger APC
Decon machinery
60-ton heavy equipment transporter (HET)
K1 tank gunnery trainer
Depot maintenance
Integrated logistics system
Plant and Machinery products
Logistics solutions
Automated guided vehicles for warehouses, ports
Baggage handling system
Conveyor system for automotive industry
Passenger boarding bridges to planes and cruise ships
Mechanical press, Hydraulic press, Servo press, Auto racking system
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.<re[77]
Istanbul Marmaray (TCDD E32000)
On November 11, 2008, Hyundai Rotem announced that it had signed a €580m contract to supply the rolling stock for the Marmaray cross-Bosporus tunnel project, later known as TCDD E32000, in Istanbul.It was chosen ahead of Alstom, CAF, and a consortium of Bombardier, Siemens
Controversies
Boston MBTA
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.<re[80] Since then, the new cars have continued to experience various mechanical problems resulting in car shortages and delays.<re[81] Despite this, as of 2024, the MBTA has been exercising the option to order additional train cars.<re[82]
In June 2024, South Korea and Uzbekistan concluded a KRW270 billion (approximately USD196 million at the time) deal to apply South Korean high-speed rail technology in Uzbekistan.It is the first export of high-speed trains with South Korean technology, where Hyundai Rotem will supply 6 sets (of 7 cars each) of high-speed trains, known as UTY EMU-250, which is a variant of KTX-Eum.[26][27][28]
In September 2024, Hyundai Rotem's EMU-320 high-speed train (the original name is used for further research and sales after naming as KTX-Cheongryong in South Korea) obtained the design certification of Technical Specification for Interoperability (TSI),[29] which paved the way for Hyundai Rotem into the European high-speed rail market.
As of early 2025, the largest order ever for Hyundai Rotem's rail solution division is a KRW2.2027 trillion (approximately USD1.5 billion at the time) contract to supply 110 sets of double-deck electric trains to the ONCF, Morocco's national railway operator, in the same year.[30][31][32] It is the largest single order not only for the company but also for any South Korean rolling stock manufacturing company.[33]
Besides conventional trains powered by diesel, overhead wire and third rail, Hyundai Rotem is also developing hydrogen mobility technology based on the hydrogen fuel cell technology system of its holding company, Hyundai Motor Company.[34] In 2021, a hybrid hydrogen fuel cell tram prototype was unveiled.[35] A revised design was exhibited during InnoTrans 2022 in Berlin,[36] which was later recognised in the product category of iF Design Award 2023,[37][38] and with a full-scale tram exhibited in the RailLog Korea 2023.[39] Detailed specifications of the tram were announced in 2024,[40] with the same full-scale tram being showcased in InnoTrans in the same year.[41] Mass production model is expected to be firstly introduced to Daejeon Metro Line 2 in South Korea, which is scheduled to commence operations in 2028.[42] Other types of rolling stock, such as hydrogen fuel cell-powered locomotives and EMUs, are also under development.[43][44]
List of rolling stock manufactured by Hyundai Rotem
In the list below, not only the rolling stock built by Hyundai Rotem (also KOROS and Rotem, before their renaming) are included, those built by the pre-1999 merger entities of Hyundai Precision Industry, Daewoo Heavy Industries, and Hanjin Heavy Industries are also included.
High-speed trains
South Korea
KTX-I (34 of 46 trainsets, manufactured under Alstom licence)
Uzbekistan – Uzbekistan RailwaysUTY EMU-250 (6 7-car trains, on order; designed based on KTX-Eum)
Regional / Intercity EMUs
Australia – New South Wales D sets for Sydney Trains, linking Sydney with the Blue Mountains, Central Coast, Newcastle, Illawarra, Wollongong, Shellharbour and South Coast district areas
Australia – Queensland Train Manufacturing Program for Queensland Rail (65 6-car trains, on order; to be jointly built by Hyundai Rotem and Downer Rail in Queensland)[45][46][47]
Uzbekistan – Uzbekistan RailwaysUTY EMU-250 (6 7-car trains, on order; designed based on KTX-Eum)
Regional / Intercity EMUs
Australia – New South Wales D sets for Sydney Trains, linking Sydney with the Blue Mountains, Central Coast, Newcastle, Illawarra, Wollongong, Shellharbour and South Coast district areas
Australia – Queensland Train Manufacturing Program for Queensland Rail (65 6-car trains, on order; to be jointly built by Hyundai Rotem and Downer Rail in Queensland)[45][46][47]
Turkey – TCDD TransportE68000 electric locomotives (8 of 80, the remaining were licensed to TÜLOMSAŞ to build)
Maglev trains
South Korea
ECOBEE on the Incheon Airport Maglev
UTM-02
Major train refurbishment / electrical components
China – Traction system and motors for Shenzhen MetroLine 3 EMUs<re[71]
Singapore – Refurbishment of Kawasaki Heavy Industries C151 trains with Mitsui and LexBuild<re[72]
Railway signalling
Hyundai Rotem is also involved in South Korea's national research project to develop a domestic railway signalling system, known as Korean Train Control System (KTCS), together with Ministry of Land, Infrastructure and Transport, Korea Railroad Research Institute, Korea National Railway, Korail,<re[73] as well as other industry players such as LS Electric.<re[74] In 2018, KTCS-2, a category of KTCS designed for mainline tracks, was successfully developed, then with the R&D, performance verification, and product certification completed by Hyundai Rotem.<re[73] In 2023 and 2024, commercial operation of KTCS-2 systems installed by Hyundai Rotem commenced on the Jeolla Line<re[75] and Daegyeong Line,<re[73] respectively.
The stainless steel cars are formed into ten-car and five-car EMUs. Some production were carried out locally by EUROTEM, Hyundai Rotem's joint venture with Turkish rolling stock manufacturer TÜVASAŞ. The trains were expected to arrive in three batches, the first 160 cars by 2011, the last by June 2014. The first EMUs went into service along Istanbul's two commuter rail lines from 2012 and 2013. On 29 October 2013, the first 5-car sets began operating between Kazlıçeşme and Ayrılıkçeşmesi as part of Phase I of the Marmaray project.<re[79]
In December 2010, Ukrainian Railways entered into contract with Hyundai Rotem to order 10 multiple units of HRCS2 trains in preparation for the football championship UEFA Euro 2012 to transport passengers between cities that would host sporting events.
The first two trains were delivered by ship to Odesa on March 11, 2012, which were than transferred to Kharkiv for acceptance testing.<re[83] Six units passed their acceptance tests by June 1, 2012 and were deployed during the Euro 2012 tournament.
The remaining four trains arrived around August 2012.
Passenger service using these trains officially started on May 27, 2012 with Kyiv-Kharkiv and Kyiv-Lviv routes.<re[84] The trains are used on a premium service introduced in Ukraine specifically for them, called Intercity and Intercity+ .<re[85]<re[86]
However, due to the short timeframe between entering the contract and delivery of the first trains (approximately 15 months), the trains had not undergone full-scale four-season tests, as is usually done in the railway industry.<re In December 2012 the trains were breaking down almost on a daily basis due to cold weather.<re[87]<re[88] This led to criticism by passengers and then President of UkraineViktor Yanukovych that the trains were bought.<re[89]<re[90] Hyundai Rotem offered its apologies to Ukrainian passengers, citing its "first winter in the country".<re[91] The company will have its own team of engineers in Ukraine till 2018.<re[89] In early October 2013 the company guaranteed "continuous operation" of the Intercity+ trains in the coming autumn and winter.<re[92] However, all trains were taken out of service on February 12, 2014.<re[93] Service resumed with one train set on April 29, 2014.<re[94] Further rectifying works were scheduled to be completed by July 2014.<re[95] After further maintenance, train performance had been stabilized.During the Russian invasion of Ukraine in 2022, these trains were one of the lifelines for maintaining adequate railway services.<re[96]
In August 2024, there were reports suggesting that Ukrainian Railways intended to order 20 more train sets from Hyundai Rotem as part of their modernization of train fleet.<re[97]<re[98]
