LG Electronics, KT sign deal for service robot business collaboration

LG Electronics and KT announced they have teamed up to work on the AI service robot business together. The two firms signed a memorandum of understanding (MOU) on Wednesday, Aug. 17, as a strategy for expanding their fast-growing robot line.

As per The Korea Times, LG Electronics and KT held the signing ceremony for their joint venture at the LG Science Park located in Seoul. This is also the facility where the former's research and development (R&D) units are stationed.

The two firms are planning to engage in various businesses related to the development and production of robots. The telecommunications firm and the tech company will create machines that can be used in a number of settings, including health care facilities, logistics, and education.

They are confident in the collaboration since LG Electronics has the expertise in core technologies related to robotics, such as sensors, cameras, artificial intelligence (AI), and even autonomous driving.

On the other hand, KT has the best network technology, which is an important requirement in creating robots. With their own know-how, KT and LG Elec are excited to create synergistic effects as they combine their respective technologies and business strategies.

"Through this collaboration, we expect more customers to experience LG Electronics' customized robot solutions optimized for various spaces," the LG Electronics Business Solutions unit's head, Jang Ik Hwan, said in a statement. "I hope more customers will be able to experience LG Electronics' customized robot solutions fitted for various purposes."

Korea Joongang Daily also quoted Song Jae Ho, KT Corp.'s vice president of artificial intelligence and a digital transformation unit, as saying" “I expect the service robots will be more approachable in oucustomers's’ everyday life anKorea's’s robotics industry will take a leap forward through the collaboratio".”

Finally, LG Electronics and KT will be combining their robot manufacturing and service capabilities to be able to develop useful machines and discover new business opportunities in the process. They will be establishing a cooperative system for the R&D of next-generation robots and set up a platform to boost the competitiveness of the domestic service robot industry.