To enhance collaboration on digital transformation based on 5G, Artificial Intelligence (AI) and smart factory, KT Corp has announced the completion of strategic cooperation and investment contracts in Korea with Hyundai Robotics. Under the terms of the deal, KT acquired a 10% stake in Korea ‘s leading industrial robotic firm, Hyundai Robotics, for 50 billion won. KT signed an agreement with Hyundai Heavy Industries Holdings on business cooperation to work together towards this digital transformation. KT President Ku Hyeonmo, the Senior Executive Vice President of Hyundai Heavy Industries Holdings (SEVP), Chung Kisun, and the CEO of Hyundai Robotics Seo Yoo-seong have been present at the signing ceremony in central Seoul at the KT headquarters. Other top executives organized the signing. In May 2019, the two sides signed an agreement, and the new agreements reflect their continuing partnership to facilitate digital transformation focused on 5G, AI, and intelligent farm. They plan to speed up the collaborative production of smart robots, autonomous driving technical innovation and intelligent manufacturing solutions.
KT President Ku said that, in the post-COVID 19 era, KT is prepared to contribute in alliance with Hyundai Heavy Industries Group and to enhance the industrial competitiveness of the Republic of Korea and the transformation of the manufacturing sector of their region. They will do everything to expand the digital transformation in various areas, starting with the Hyundai Heavy Industries Group.
KT is providing communication technology, cloud, ICT solutions and related band products to a smart factory, while Hyundai Robotics is delivering appropriate robots and solutions. The KT Smart Factory Management System (HRMS) combination, known as the “5G Factory Builders” as well as the Hyundai Robotics System is expected to improve the management of production, and predictive maintenance. KT will aim to share human resources along with its involvement in Hyundai Robotics in order to boost the competitiveness of Hyundai Robotics in the field of robotics and intelligent plants.
Chung Kisun, Hyundai Heavy Industries Holdings’ Senior Executive Vice President (SEVP) said that, apart from the primary development, the strategic capacity of individual companies to read and turn consumer patterns in the future decide the profitability of manufacturers. Through comprehensive cooperation on business with KT, they believe that the digital transformation will be accomplished, not only in Hyundai Robotics but through the whole Hyundai Heavy Industries community. KT aims to extend digital transformation into different fields and eventually improve national competitiveness in its partnership with Hyundai Heavy Industries Group. In order to maximize efficiency and expand companies’ business opportunities, KT makes efforts across its corporations to ensure digital transformation based on its expertise in 5G networks, AI, Big data, cloud and ICT solutions, respectively.
About KT Corporation
KT Corp., Korea’s largest service provider in telecommunications, restored in 1981 under the Telecommunications Business Act, is the world’s leading innovation age. Following the successful introduction of the world’s first 5 G test service at PyeongChang Winter Olympics in February 2018, KT unveiled the world’s first national enterprise 5G network. It is another landmark in KT ‘s continuing efforts to offer critical goods and services to be a leading ICT Company and People’s Company.
For more information visit https://corp.kt.com
About Hyundai Robotics
In 1987, Hyundai Robotics produced a welding robot for the first time and developed for the first time in Korea a new age of over 50,000 manufacturing robots in 2018. Hyundai Robotics works in all areas, such as robot automation, manufacturing, deployment, test drive and after-sales services. Hyundai Robotics focuses on the smart factory market using state-of-the-art robotics technology. We are taking the initiative to build and deploy automation systems through the production of new customer-designed robots.
For more visit : https://www.hyundai-robotics.com