In accordance with the Small and Medium Business Cooperatives Act, the Korea Elevator Industry Cooperative was approved under the Korean Federation of Small and Medium Business Law by the Ministry of Trade and Industry in the July of 1995. The Cooperative was approved with the goals to 1) develop the industry of elevator and part manufacturing, 2) promote well-being of cooperative members, 3) lead the national economy development through its businesses.
As of September of 2021, the Cooperative has 128 small and medium business members which manufacture elevators and their parts.
Cooperative pursues economic well-being of its members, make collective contracts, and perform tasks delegated by government and the Korea Federation of Small and Medium Businesses.
In particular, the Cooperatives has been working on government support projects such as "Developing Cloud-based Elevator Standard Design Solution" in 2018, "Developing Mid-Term Specialized Used Speed (120m/min~150m/min) Elevator" in 2020, and "Producing and Installing Cargo Elevator" carried out activities such as the establishment of group standards.