UPDATED. 2024-04-11 10:05 (목)
KT to invest 50 billion won into Hyundai Robotics 
KT to invest 50 billion won into Hyundai Robotics 
  • Jong Jun Lee
  • 승인 2020.06.17 17:12
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They will collaborate in developing service robots
Image: KT
Image: KT

KT will invest 50 billion won into Hyundai Robotics for a 10% stake, the telco said Tuesday.

The two companies will collaborate in developing intelligent service robots. KT and Hyundai Robotics will also partake in joint researches in autonomous driving and smart factory technology, they said.

Hyundai Robotics was formed in May by Hyundai Heavy Industries Group. The robotics firm is aiming for an IPO in 2022.

Hyundai Robotics currently has a capital of 40 billion won and Hyundai Heavy Industries Group is valuing the company at 600 billion won to 700 billion won.

Last year, Hyundai Robotics, then the robotics business unit of the group, posted 266.7 billion won annual sales.

KT and Hyundai Heavy will also form a joint committee comprised of senior executives. The committee will aim to find collaboration opportunities between affiliates of the two business groups in digital transformation and smart solutions.

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