LG Innotek is making a full-fledged entry into the robot components market by partnering with the global robotics company Boston Dynamics. This marks the company's first step in diversifying its portfolio beyond its traditional smartphone camera business, as it seeks to develop core components for humanoid robots.

This collaboration is not a simple component supply deal, but rather a joint development project, and is seen as part of the business advancement strategy pursued under CEO Moon Hyuksu. In particular, from the perspective of the LG Group, the partnership increases the potential for cooperation with Hyundai Motor Group, which acquired Boston Dynamics. This is seen as an opportunity for LG Innotek to strengthen its position as a supplier of next-generation core components, in line with Hyundai Motor Group's robotics and mobility strategy.

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On May 12, LG Innotek announced that it had signed an agreement with Boston Dynamics to jointly develop robot components. The two companies will work together to develop a "vision sensing system," which serves as the "eyes" of the robot. LG Innotek will develop the vision sensing module to be installed in the next-generation model of Boston Dynamics' humanoid robot "Atlas," while Boston Dynamics will be responsible for developing software that can effectively process the visual data recognized by the module.

This is the first time LG Innotek has embarked on full-scale development related to robotics. Early last year, the company signaled its entry into the robotics market by participating in a funding round for the Silicon Valley robotics startup Figure AI, and with this agreement, it has advanced to the technology development stage. Figure AI is a company that has developed humanoid robots in collaboration with OpenAI, a leading artificial intelligence (AI) company.

This partnership is notable for its potential to expand synergies with Hyundai Motor Group. LG Innotek already maintains a cooperative relationship with Hyundai Motor Group in automotive camera and electronic components, increasing the likelihood of cross-collaboration that connects robotics and mobility technologies. If LG Innotek establishes itself as a technology partner, strategic links such as supply chain diversification and joint technology planning may be realized.

The vision sensing system being developed by LG Innotek integrates various components, including not only RGB (red, green, blue) cameras but also 3D sensing modules. This system can precisely recognize its surroundings through sensor interaction, even in environments with low visibility such as nighttime or severe weather. Just like autonomous vehicles, the system will play a key role in enabling robots to independently perceive and make decisions about their environment.

Moon Hyuksu, CEO of LG Innotek, is answering questions from reporters about business strategy after the '49th Annual General Meeting of Shareholders' held in March this year at LG Science Park in Magok, Gangseo-gu, Seoul. Photo by Jang Heejun

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LG Innotek's optical technology has been applied in a variety of fields, including not only smartphones but also automotive cameras for autonomous driving. Based on its proprietary technology, the company can expand into industries such as robotics, semiconductors, and automotive in the future.

CEO Moon Hyuksu has focused on improving the company's profit structure, which has been heavily dependent on smartphone cameras, in response to price competition from Chinese rivals, and on identifying sustainable future growth engines. The launch of robot component development marks a turning point in this strategy. Starting with the collaboration with Boston Dynamics, LG Innotek is discussing ways to apply various proprietary technologies to robot platforms and plans to expand the scope of cooperation in the future.

After the shareholders' meeting in March, CEO Moon stated to reporters, "Between 2027 and 2028, the humanoid-related business will grow tenfold each year," expressing strong expectations for the robotics market.

Robert Playter, CEO of Boston Dynamics, said, "We are very pleased to collaborate with LG Innotek to drive innovation in robot vision and set a new standard for the development of robotic 'eyes.' I believe robots should be able to see, perceive, and understand the world just like humans. Through this partnership, I look forward to developing an innovative vision sensing system on par with smartphone camera technology."

Work footage of Atlas, the electric humanoid robot by Boston Dynamics. Boston Dynamics YouTube.

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Moon Hyuksu, CEO of LG Innotek, stated, "Through our collaboration with Boston Dynamics, which possesses the world's top robotics technology, LG Innotek has secured a leading position in the robot components market. We will continue to introduce core components that lead the robot market and create differentiated value for our customers."