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
  • World Expo 2030
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
  • World Expo 2030
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

    Korea falls to Italy in FIFA U-20 World Cup semifinals

  • 3

    Actor Yoo Ah-in suspected of taking 2 more types of drugs

  • 5

    OpenAI explores investment opportunities in Korean startups: Sam Altman

  • 7

    IPO market regains vigor on bullish KOSPI

  • 9

    Gang Dong-won, Park Jeong-min team up for Joseon-era thriller 'War and Revolt'

  • 11

    Philippines Day celebrated in Gwangju

  • 13

    Resurging household loans pose challenge for BOK's rate policy

  • 15

    OpenAI CEO visits Korea as country seeks to encourage AI development

  • 17

    Hyundai Motor partners with Spider-Man animation to envision future mobility

  • 19

    NK claims dam collapse in Ukraine occurred with Washington, Kyiv in 'cahoots'

  • 2

    Rising minimum wage burdens small biz owners: survey

  • 4

    Jihyo to become 2nd TWICE member to make solo debut

  • 6

    'The Childe': blood-soaked crime thriller with chilling chase scenes

  • 8

    China's hallyu restrictions likely to continue unless Seoul-Beijing ties improve

  • 10

    China reaches out to Korean Assembly to counterweigh Yoon's bet on US

  • 12

    S. Korea may see rise in NK defectors as Pyongyang mulls reopening borders

  • 14

    INTERVIEWCIX talks about team chemistry, youth theme

  • 16

    SPC bolsters PR activities in US

  • 18

    NCT to hold Korea-Japan stadium tour

  • 20

    Japanese business leaders pledge to support Busan's Expo bid

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
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Sun, June 11, 2023 | 06:52
Companies
Companies nurture robots as new growth engines
Posted : 2023-02-27 15:29
Updated : 2023-02-28 09:33
Kim Hyun-bin
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link

Hyundai Motor Group tests autonomous driving delivery service using robots in Rolling Hills Hotel in Hwaseong, Gyeonggi Province on Dec. 16, 2022. Courtesy of Hyundai Motor Group
Hyundai Motor Group tests autonomous driving delivery service using robots in Rolling Hills Hotel in Hwaseong, Gyeonggi Province on Dec. 16, 2022. Courtesy of Hyundai Motor Group

By Kim Hyun-bin

Major conglomerates view the robot business as a future growth engine. Competition is heating up with the market expected to grow to 177 trillion won ($140 billion) in four years, according to industry officials, Monday.

According to market researcher, Brand Essence Market Research and Consulting, the service robot market is expected to expand from $35.24 billion in 2021 to $140.94 billion in 2027. Samsung Electronics, Hyundai Motor Group, and LG Electronics are interested in developing and marketing a wide range of robots from medical workers to museum curators.

Samsung Electronics plans to introduce its first robot within this year. At a press conference at the beginning of the year, Han Jong-hee, vice-chairman of the Device Experience (DX) division at Samsung Electronics, said, "We plan to introduce an assistive device robot named 'EX1' within this year."

The 'EX1' can be worn on the hips and knees to help the elderly walk and exercise. Samsung Electronics has applied for more than 10 robot patents related to technology assisting people's movements.

Samsung Electronics has been steadily reviewing investments in the robot industry. In 2021, Samsung Electronics Chairman Lee Jae-yong announced that he would invest 240 trillion won over three years, citing robotics and artificial intelligence (AI) as future growth engines.

Hyundai Motor Group tests autonomous driving delivery service using robots in Rolling Hills Hotel in Hwaseong, Gyeonggi Province on Dec. 16, 2022. Courtesy of Hyundai Motor Group
Robots manufacture washing machines at LG Electronics Tennessee plant. Courtesy of LG Electronics

Samsung Electronics also started cultivating robot specialists with the Korea Advanced Institute of Science and Technology (KAIST) this year. This is also the first time that Samsung Electronics has created a robot-related training course linked to universities. As a recruitment-linked master's course, 10 students each year will join Samsung Electronics after obtaining their degree.

Hyundai Motor Group is also in the process of commercializing robots by targeting the health care service market. Initially, the company planned to develop industrial purpose robots, but decided to also develop medical robots. Hyundai Motor Company's robot brand, X-ble, helps patients and disabled people with rehabilitative training exercises.

"The robot industry is one of the promising future industries and companies are considering investing in various businesses. We are considering investments to achieve synergy with the current business and seeking various ways to compete in a rapidly changing industrial environment," an official at a major conglomerate said.

Based on its unique self-driving technology, Hyundai Motor is also developing delivery robots. At the end of last year, a self-driving delivery service test project using robots was carried out at a residential and commercial complex in Suwon and at a hotel in Hwaseong, Gyeonggi Province.

LG Electronics has also chosen robots as a new growth engine and invested earlier than other local conglomerates. In 2003, LG Electronics unveiled Korea's first robot vacuum cleaner, Roboking, followed by Chloe Guidebot in 2017, which guides visitors at airports. LG Electronics' strategy is to increase its market share by introducing robot solutions that can be applied to various places such as hotels, hospitals, and restaurants. Recently, Q-I, which serves as a curator in museums, was also released.


Emailhyunbin@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Rising minimum wage burdens small biz owners: survey Rising minimum wage burdens small biz owners: survey
2OpenAI explores investment opportunities in Korean startups: Sam Altman OpenAI explores investment opportunities in Korean startups: Sam Altman
3IPO market regains vigor on bullish KOSPI IPO market regains vigor on bullish KOSPI
4China reaches out to Korean Assembly to counterweigh Yoon's bet on US China reaches out to Korean Assembly to counterweigh Yoon's bet on US
5S. Korea may see rise in NK defectors as Pyongyang mulls reopening borders S. Korea may see rise in NK defectors as Pyongyang mulls reopening borders
6Resurging household loans pose challenge for BOK's rate policy Resurging household loans pose challenge for BOK's rate policy
7SPC bolsters PR activities in US SPC bolsters PR activities in US
8Hyundai Motor partners with Spider-Man animation to envision future mobility Hyundai Motor partners with Spider-Man animation to envision future mobility
9Japanese business leaders pledge to support Busan's Expo bid Japanese business leaders pledge to support Busan's Expo bid
10More foreign language tours will be offered for Cheong Wa Dae More foreign language tours will be offered for Cheong Wa Dae
Top 5 Entertainment News
1China's hallyu restrictions likely to continue unless Seoul-Beijing ties improve China's hallyu restrictions likely to continue unless Seoul-Beijing ties improve
2Gang Dong-won, Park Jeong-min team up for Joseon-era thriller 'War and Revolt' Gang Dong-won, Park Jeong-min team up for Joseon-era thriller 'War and Revolt'
3[INTERVIEW] CIX talks about team chemistry, youth theme INTERVIEWCIX talks about team chemistry, youth theme
4Netflix's new original 'Bloodhounds' to deliver cathartic actionNetflix's new original 'Bloodhounds' to deliver cathartic action
5'Leaving Las Vegas' director Mike Figgis puts Korea in spotlight in new film 'Leaving Las Vegas' director Mike Figgis puts Korea in spotlight in new film
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • 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

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