INTERNATIONAL NEWS
1. South Korea: 647 escalators at Seoul stations have been in operation for over 20 years
According to documents submitted by Seoul Metro to the City Council, 647 escalators—equivalent to 34% of the portfolio—have been in operation for over 20 years; the average equipment age is 14.6 years. As of July 22, six escalators had been out of service for more than 30 days, including two units at Dokbawi Station that had both been down for over a month.
The operations department requested approximately 14.532 billion won for repairs in 2026 but was allocated only 5.567 billion won. This year's equipment replacement budget also met only about 33% of the proposed demand.
2. Argentina: 11 passengers fell on an escalator at Sáenz Station
At approximately 16:10, an escalator connecting the station area to Platform 1 at Dr. Sáenz Station on the Belgrano Sur line exhibited abnormal movement, causing many passengers to lose their balance and fall. Of the 11 people who received medical assistance, six were treated on-site and five had to be transferred to hospital.
Initial information was inconsistent regarding what happened to the equipment. One account stated that the escalator suddenly reversed direction, while another assessment mentioned that the equipment became stuck and moved with strong jolts. This is only preliminary information; there has been no conclusion as to whether the escalator actually reversed direction unintentionally or stopped and jolted suddenly due to another cause.
3. L.T. Elevator acquires South Korean automated parking technology
India's L.T. Elevator Limited has signed an agreement to purchase 996,675 shares, equivalent to 66.45% of the capital of Dongyang PC Inc. – a South Korean enterprise specializing in the design and manufacture of automated mechanical parking systems.
The purchase price was announced at USD 2.85 per share, bringing the value of the initial stake to approximately USD 2.84 million; the transaction remains subject to relevant completion conditions and approvals.
After completing the initial acquisition step, Dongyang PC is expected to purchase and cancel 500,000 shares owned by a Saudi Arabian investor within 60 days. If this plan is fully implemented, the South Korean company will become a wholly owned subsidiary of L.T. Elevator.
