KT Corp., a South Korean telecommunications company, announced on Tuesday that it would inject 50 billion won ($41.4 million) to acquire a 10 percent stake into Hyundai Robotics Co.
Hyundai Robotics Co. is the wholly-owned robotics unit of Hyundai Heavy Industries Group launched last May this year to reinforce the rapidly quickly robotics business.
The investment came as KT aims to boost the company’s presence in the robotic industry and smart factory solutions.
Hyundai Robotics and KT would work together on the research and development of AI service robots, automation, and smart factories.
Under the partnership, KT stated that it would concentrate on the software design by utilizing its artificial intelligence technology, big data solutions, cloud computing, and 5G network. Meanwhile, Hyundai Robotics would take responsibility for building the robots’ frame, hardware, and manufacturing features.
The robots developed would focus on cleaning, security, and delivery services for restaurants and hotels, thereby providing solutions for contactless difficulties brought about by the COVID pandemic.
The two companies also intend to develop robots used for industrial purposes such as in factories and other big store operators.
KT would work together with Hyundai Heavy Industries Co., the world’s largest shipbuilding company with headquarters at Ulsan, South Korea. The collaboration committee would discuss various innovative smart solutions projects in the digital transformation field.
Last year, the company probed into robotics to expand its business and develop another area for innovation. KT set out the creation of autonomous carts or vehicles together with Twinny, a local robot maker. Last month, the company stationed these robots at its smartphone warehouses. KT also recently introduced a service robot in a hotel in Seoul.
KT said it would also team up with LG Electronics to develop a pandemic prevention model using artificial intelligence (AI) amid the COVID-19 pandemic.
