KT to buy 10% stake in Hyundai Robotics for 50-B won

KT Corp. will acquire a 10 percent stake in Hyundai Robotics Co. for 50 billion won to enhance its capabilities in robotics and smart factory solutions.

The investment allows KT to boost cooperation with Hyundai Robotics in the robot and smart factory businesses.

The two firms plan to create industrial robots and service bots.

KT will focus on developing software using its artificial intelligence, big data solutions, and 5G network, while Hyundai Robotics would create the body of a robot.

In the smart factory sector, KT would supply its telecommunications and security solutions, while Hyundai Robotics will provide its robot-related technologies.

Hyundai Robotics is the largest industrial robot manufacturer in South Korea and a wholly-owned subsidiary of Hyundai Heavy Industries Holdings Co., the holding company of South Korea's top shipbuilding conglomerate.

KT, a major South Korean telecommunications firm, had partnered with Hyundai Heavy Industries in creating various smart solutions.