Wed. Oct 4th, 2023
    Major Korean Companies Expanding in Robotics Industry

    According to industry officials, major Korean conglomerates are increasingly entering the robotics industry due to the high demand for collaborative robots and rising labor costs. Doosan Robotics, a leading manufacturer of collaborative robots, has seen significant sales growth in North America and Europe, generating more than half of its sales from these regions. The company has gained a reputation for its ability to process complex tasks with accuracy.

    Shares of Doosan Group, the parent company of Doosan Robotics, surged over 20 percent on the expectation of the affiliate’s upcoming stock listing. Doosan Robotics is scheduled to go public next month and is considered one of the country’s most promising players in the robotics industry due to its rapid sales growth potential. Data from Meritz Securities shows that Doosan Robotics currently holds the fourth-largest global collaborative robot market share, excluding China. Sales for the company reached 45 billion won ($33.81 million) in 2022 and are projected to exceed 250 billion won by 2026.

    Doosan Robotics plans to expand its sales channels from 89 to 219 by the end of 2026 in response to growing demand for robotics solutions in cafeterias and chicken franchises. Analysts at the securities firm expect the company’s valuation to reach 1.9 trillion won shortly after its highly anticipated initial public offering.

    Joining the robotics trend, Hanwha Group is set to launch a subsidiary called Hanwha Robotics next month. The company will focus on manufacturing collaborative robots for industrial applications such as welding and machine tending, as well as exploring service industries like food technology and electric vehicle charging.

    Samsung Electronics, the largest Korean company by market capitalization, is also looking to increase manufacturing efficiency by leveraging AI-powered humanoid robots for semiconductor production. The company acquired a 14.99-percent stake in Rainbow Robotics earlier this year, making it the second-largest shareholder of the collaborative robot developer. Since then, shares of Rainbow Robotics have surged by around 30 percent, reflecting the growing anticipation of its partnership with Samsung.

    The demand for collaborative robots is rapidly growing, particularly in markets with high labor costs like the United States and Europe. This trend is driving Korean companies to invest in the robotics industry in order to meet the increasing demand and improve efficiency in various sectors.

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