South Korean telecommunication firm, KT Corp, reported it would take a 10% stake in a robotics unit of Hyundai Heavy Industries (HHI) Group. The primary purpose is to further improvise its competitiveness in a smart factory and robotic technology, as per the Yonhap News Agency. It said this acquisition in Hyundai Robotics Co., one of the popular and the most prominent industrial robot manufacturers, would be 50 billion won, equivalent to $41.4 million.
Hyundai Robotics is one of the top industrial robot maker known to offer a wide-ranging line of automation robots to today’s exceedingly competitive manufacturing market. It is an ultimately claimed part of Hyundai Heavy Industries Holdings Co., the holding association of South Korea’s shipbuilding aggregate.
With this considerable investment, KT is said to boost its collaboration with Hyundai Robotics in the robot businesses and smart factories. The firm has likewise marked an organization with Hyundai Heavy Industries on different intelligent arrangements.
KT intends to concentrate on programming improvement utilizing its artificial intelligence (AI), big data solutions, and 5G network. At the same time, Hyundai Robotics will be held responsible for developing the body features of a robotic machine. With this co-operation, they will build service bots, alongside industrial ones.
The robots being developed will give conveyance, cleaning, and related security administrations at hotels and restaurants. KT and Hyundai Robotics additionally have a few intension to create modern industrial robots that are fit for working successfully at production lines and massive stores.
KT has also settled to deliver its state-of-the-art telecommunications and security elucidations for the smart factory sector, whereas Hyundai Robotics deliveries its robot-related technologies to create a better platform.
KT is also planning to form a collaboration committee with Hyundai Heavy Industries Group to talk over possible joint projects with the group’s other associates in the expanse of the digital revolution.
HHI Group has, as of late, uncovered its objective of accomplishing yearly deals of KRW 1 trillion in this segment by the next four years. Seo Yoo-Seong, CEO of Hyundai Robotics, says, “We aim to further strengthen our competitiveness through active investments in R&D projects and large-scale facilities, and are also considering attracting strategic investment partners down the road.”
Last year, KT shared its proposal to invest KRW500 billion in cloud technology and integrate 5G edge communication centers in eight different locations across the nation. During this time, it unveiled that Hyundai Heavy Industries Group would use this 5G edge cloud to support its robotics solution and mechanize inspection at a new smart factory.
5G services were launched by these operators in April 2019, wherein KT had received 1.78 million subscribers, 12.5% of its total user base by the end of March.
Likewise, KT is observed teaming up with LG Electronics to manufacture an AI-based pandemic avoidance model considering the COVID-19 episode.