The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Song Joong-ki marries British woman, expects baby

  • 3

    Suicidal pedestrian saved over Han River bridge

  • 5

    Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity'

  • 7

    Youth, foreign drug offenders increase threefold in 5 years

  • 9

    NK rejects alleged arms trading with Russia, warns of 'undesirable result'

  • 11

    Samsung to introduce low-carbon diet for employees to help tackle climate change

  • 13

    Seoul International School celebrates 50th anniversary

  • 15

    Base taxi fare to rise by 1,000 won to 4,800 won next month

  • 17

    Main opposition leader faces pressure to resign in case of indictment

  • 19

    3 dead, 4 hurt in upmarket Los Angeles neighborhood

  • 2

    Japanese teen romance film attracts 1 mil. Korean viewers for 1st time in 21 yrs

  • 4

    Korea to lift indoor mask mandate Monday

  • 6

    US four-star general warns of war with China in 2025

  • 8

    INTERVIEWBusan has potential to be world-class city, says mayor

  • 10

    K-pop releases for February

  • 12

    'Someday or One Day' cast says film spin-off has new plot

  • 14

    Plum trees, pheasants and promises of old Korea

  • 16

    Koreans reluctant to unmask on first day of eased indoor mask rule

  • 18

    S. Korea mistakenly fires machine gun near border with N. Korea

  • 20

    NATO chief calls for stronger security ties with S. Korea to counter China

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
Tue, January 31, 2023 | 07:01
Business
Korea eyes robotics industry
Posted : 2010-12-09 18:04
Updated : 2010-12-09 18:04
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
By Kim Tae-gyu

The Korean government aims to nurture the service robot industry as one of the country’s next-generation growth engines to succeed in the currently flourishing semiconductor and automobile businesses.

The Ministry of Knowledge Economy (MKE) said Thursday that it will channel a total of 30 billion won ($26.3 million) next year alone to become one of the three powers in the robot industry by 2018.

“The robotics market will shift its focus from today’s mass-production models to service models down the road. We must strive to preempt the trend through brisk efforts,” an MKE official said.

“Presently, our market share in the global scene is around 10 percent. We are looking to double the figure by 2018 to join the ranks of the world’s top three by then.”

That means that Asia’s fourth-largest economy is looking to earn as much as $20 billion a year in 2018 as the world market is expected to grow to $100 billion by then from today’s $10 billion.

The market has swelled rapidly from a mere $4.5 billion in 2003 to $7.5 billion in 2005, $8.1 billion in 2007 and $9.4 billion in 2008, according to the latest data available from the International Federation of Robotics.

The robotics business is also projected to positively affect related businesses such as motors, sensors, actuators, displays and chips.

“We will come up with tailor-made strategies in tapping into the international market. For instance, we will attempt to export robots caring for senior citizens and helping with surgery to advanced markets such as the EU and the United States,” he said.

“Surveillance robots would be attractive to the African buyers and those helping with household chores and education would target the Southeastern Asian and Chinese markets.”

Korea Inc. has been propping up such breadwinners as semiconductors, shipbuilding, automobiles, flat-panel displays, home appliances, chemical products and steel but the nation has lacked definitive candidates for future cash cows.

The country regards robots as the very candidate to underpin Korea in the future.

At present, Korea lags behind the countries with the best robotics technology by a couple of years. However, it hopes to catch up by 2018 based on its proactive investment.

The upside potential of the country’s robotic industry has been confirmed of late as the state-backed Korea Institute of Science and Technology (KIST) developed robots programmed to teach English in classrooms.

They gained great media attention both at home and abroad with Time calling them one of the “50 Best Inventions of 2010.”
Emailvoc200@koreatimes.co.kr Article ListMore articles by this reporter
 
Top 10 Stories
1Koreans reluctant to unmask on first day of eased indoor mask rule Koreans reluctant to unmask on first day of eased indoor mask rule
2Over 76% of South Koreans support development of nuclear weaponsOver 76% of South Koreans support development of nuclear weapons
3[ANALYSIS] Pandemic awakens demand for data-driven automation ANALYSISPandemic awakens demand for data-driven automation
4Busan seeks to take lead in expo race after BIE's April visit Busan seeks to take lead in expo race after BIE's April visit
5Retailers seek to bolster beauty product sales as lifting of mask mandate approaches Retailers seek to bolster beauty product sales as lifting of mask mandate approaches
6Stock-leveraged investments rise again amid bullish KOSPI Stock-leveraged investments rise again amid bullish KOSPI
7Biohealth geared for growth Biohealth geared for growth
8Korea-US defense talks likely to bring up extended deterrence Korea-US defense talks likely to bring up extended deterrence
9SPC opens 120th Paris Baguette store in US SPC opens 120th Paris Baguette store in US
10NK slams NATO chief's Seoul visit as 'prelude to war'NK slams NATO chief's Seoul visit as 'prelude to war'
Top 5 Entertainment News
1Song Joong-ki marries British woman, expects babySong Joong-ki marries British woman, expects baby
2Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity' Kim Jung-hyun returns to small screen with 'Kokdu: Season of Deity'
3K-pop releases for February K-pop releases for February
4'Someday or One Day' cast says film spin-off has new plot 'Someday or One Day' cast says film spin-off has new plot
5Itaewon music fest brings love to the healing process Itaewon music fest brings love to the healing process
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group