Park Jae-hyuk is a seasoned journalist who has provided comprehensive coverage of South Korea's corporate dynamics, economic policies, industry challenges and the global positioning of Korean companies. Based on the articles he has written since joining The Korea Times in 2016, his investigative approach has helped readers understand corporate governance, economic trends and business strategies shaping South Korea’s economy.
Otis faces lawsuit for faulty lift in Lotte World Tower
Otis Elevator's traction machine is moved to the top of Lotte World Tower in Seoul in this February 2016 file photo. / Courtesy of Lotte Engineering & Construction
By Park Jae-hyuk
By Park Jae-hyuk
Lotte Property & Development is considering filing a lawsuit against Otis Elevator over the malfunction of an elevator to an observatory of Lotte World Tower, the operator of Korea's tallest skyscraper said Wednesday.
Lotte has stopped operating one of two elevators to the world's third-highest observation deck, since it found flaws in the elevator's cables last month, following an employee report on May 8 about the poor riding quality of the elevator.
The nation's fifth-largest conglomerate has since been running only one elevator to the observation deck.
The faulty elevator's operation will resume in at least three months later, because Otis decided to produce all parts of the elevator at its German factory and test the elevator's operation for a few weeks.
According to the U.S. elevator company, Korea has no facilities to produce the Sky Shuttle elevator's rope which is 22 millimeters in diameter ― thicker than ordinary elevators' ropes which are 12 millimeters to 18 millimeters.
“The number of visitors who can gain admittance to our observatory has halved,” a Lotte Property & Development spokesman said. “After figuring out the specific cause of the defect, we will decide whether to sue Otis or not.”
The decline in the number of visitors is expected to deal a blow to the building operator's revenue.
Since Lotte World Tower opened last April, the 555-meter-tall building has become one of Korea's hottest tourist spots.
Lotte said over 1.65 million have visited the tower's observatory between the 117th and 123th floors as of March.
Visitors include the presidents of Estonia and Lithuania, a Belgian princess, a stuntman from the Spider-Man movie and Lotte Giants' first baseman Lee Dae-ho.
Considering the elevator previously malfunctioned in March last year, delaying the grand opening of Lotte World Tower, the recent case will also tarnish the images of both Otis and Lotte.
Lotte, however, has denied concerns over the tower's safety.
According to the company, the elevators are equipped with a fall prevention system, which helps the elevators automatically stop in an emergency, regardless of the condition of their ropes.
Lotte said Otis and other elevator maintenance companies could not find any additional defects other than the rope during a safety inspection last month on all elevators in the tower.
“We have carried out a general inspection on Lotte World Tower's elevators every month,” the company official said. “Also, experts in elevators, who work at the building, are checking the elevators every day.”