KT invests 50 billion KRW in Hyundai Robotics... Accelerating Innovation in Manufacturing Industry

[Asia Economy Reporter Koo Chae-eun] KT will purchase a 10% stake in Hyundai Robotics, a manufacturer of robots in the manufacturing sector, for 50 billion KRW. This move aims to expand intelligent robots and smart factory businesses using 5th generation (5G) mobile communication.

KT announced on the 16th that KT CEO Koo Hyun-mo signed an investment contract worth 50 billion KRW with Hyundai Heavy Industries Holdings Vice President Jung Ki-sun and Hyundai Robotics CEO Seo Yoo-sung at the KT Gwanghwamun Building in Jongno-gu, Seoul. As a result, KT will hold a 10% stake in Hyundai Robotics. The scheduled date for acquiring the shares is the 26th of this month. Hyundai Robotics, which launched as a business division of Hyundai Heavy Industries Holdings in 2017, spun off as a separate corporation last May.

KT and Hyundai Robotics will collaborate in developing intelligent service robots, researching autonomous driving technology, and the smart factory sector. KT will be responsible for software development related to intelligent service robots and autonomous driving technology, while Hyundai Robotics will handle hardware development. They will also jointly develop food and beverage serving robots used in restaurants, as well as cleaning and patrol robots equipped with cleaning and security functions.

In the smart factory sector, KT will provide 5G communication technology and cloud services, while Hyundai Robotics will supply robots and robot solutions. In particular, the combination of KT’s dedicated smart factory platform and Hyundai Robotics’ robot management system is expected by both companies to improve process analysis and production management. They will also pursue cooperation in smart hospitals and smart logistics fields.

Additionally, KT will jointly promote digital innovation in manufacturing with Hyundai Heavy Industries Group. To this end, KT CEO Koo Hyun-mo and Hyundai Heavy Industries Holdings Vice President Jung Ki-sun will establish a cooperation committee. This committee will discuss business cooperation between KT and Hyundai Heavy Industries Group affiliates. In May last year, KT signed a memorandum of understanding (MOU) with Hyundai Heavy Industries Holdings for 5G robots and smart factory businesses.

KT CEO Koo Hyun-mo stated, “KT will strive to spread ‘digital innovation’ across various fields, starting with Hyundai Heavy Industries Group.” Vice President Jung Ki-sun of Hyundai Heavy Industries Holdings said, “Through broad business cooperation with KT, we expect that not only Hyundai Robotics but also Hyundai Heavy Industries Group will strengthen its competitiveness as a world-leading company through ‘digital innovation.’”

This content was produced with the assistance of AI translation services.