Mitsubishi Electric’s subsidiary Mitsubishi Elevator Korea Co., Ltd. (KMEC) will begin operating a new elevator factory in the Incheon Free Economic Zone of South Korea on March 1.

The factory will have an R&D center for strengthened development and verification functions and will expand current production capacity by 2.5 times to 4’000 units, Mitsubishi Electric expects to help expand its elevator and escalator global business and increase market share in South Korea.

The company has invested about USD 27 million in the new plant, which has a floor space of 19’070 square metres. New R&D center will take over selected development functions from Inazawa Works, Mitsubishi Electric’s elevator and escalator mother factory in Japan, for global development and verification.