Banseog note · Oct 25, 2026
Hyundai Livart — moving from a furniture company to a space business company
- Where it stands now
- Transition — revenue has fallen with the construction cycle, but the company is cutting costs while widening its business through overseas construction and remodeling
In the first half of 2026 revenue fell 14.0% to KRW 729.0 billion, and in the second quarter operating profit rose 9.4% to about KRW 5.6 billion on cost improvements.
About 71% of revenue is B2B, and B2B furniture revenue in the first half fell 21.3% to KRW 227.7 billion.
- Three decisions within a year
- It won a KRW 114.1 billion contract for temporary works at a seawater supply facility in Iraq, with revenue being recognized from the second quarter of 2026.
- It opened its first extended reality (XR) consultation space, 'XR Design Studio', in 2026 and plans to expand to 10 locations by year-end.
- In October 2026 it signed an agreement to become the official interior partner of 'The New House', Hyundai Engineering & Construction's program for upgrading aging apartments.
- Three people it will look for
- Overseas construction project manager — someone to manage schedules and costs at overseas sites such as the Iraq temporary works
- Remodeling and interior sales and design leader — someone to win and deliver complex-wide remodeling projects
- Hotel and commercial space furniture (FF&E) lead — extending B2B beyond offices and built-in furniture
- For HR
- Other furniture and interior companies are also adding remodeling and B2B interior staff, so they are vying for the same people. It is best to name business heads within this year, before the agreement and the showroom expansion turn into actual work.
- For job seekers
- Experience carrying apartment remodeling or hotel interiors from design through construction, and a track record managing overseas construction sites, are worth the most right now.
A reading written from public sources. Sources: Seoul Times 2026-10-15 (first-half results); Newspim 2026-08-07 (second-quarter results, XR showrooms); Top Daily 2026-10-21 (B2B share, Iraq contract); 4th Journal 2026-10-25 (Hyundai Engineering & Construction agreement). Team size is from Korea's pension register.