robotics

Humanoid robots are no longer a laboratory experiment; they are a growing market. Morgan Stanley estimates it could hit $5 trillion by 2050, with more than a billion humanoids in use worldwide.

However, much of the global robot supply chain runs through China. It produces robot components at a scale and a price its competitors struggle to match.

The United States has banned imports of foreign-made humanoid robots, citing national security. It has also blocked power inverters used in data centres and solar energy systems. The move is seen as part of a broader effort to protect US industry and limit China’s technological rise.

SEOUL, June 23 (UPI) — South Korea’s LG Chem said Tuesday it will invest nearly $10 billion over the next decade to foster futuristic industries powered by the artificial intelligence boom.

The Seoul-based company plans to spend $9.7 billion on research and development through 2035, concentrating on advanced materials for semiconductors, mobility, robotics and anticancer drugs.

LG Chem said that the initiative comes as profitability in its traditional petrochemical business dipped because of global oversupply and fierce competition.

Through the investment, the chemical giant vowed to achieve a double-digit operating profit margin by the end of the decade.

To complement its organic growth strategy, LG Chem said it will pursue external growth opportunities, including mergers and acquisitions. It recently established an organization dedicated to that goal.

LG Chem unveiled the long-term strategy during a town hall meeting Monday, where CEO Kim Dong-chun stressed the need to strengthen both existing businesses and future growth engines.

“While strengthening the competitiveness of our existing businesses, we will focus our capabilities on future growth pillars to leap forward as a technology-driven converting company,” Kim said.

LG Chem defines a “tech-driven converting company” as an enterprise that leverages its accumulated technological expertise to create high-value-added products and differentiated profit streams.

The share price of LG Chem plunged 9.75% on the Seoul bourse on Monday, while the benchmark KOSPI plummeted 9.99%. LG Chem is a major subsidiary of LG Group, whose businesses also include LG Electronics, LG Display and LG Uplus.

Nvidia Corp. Chief Executive Officer (CEO) Jensen Huang said Friday that he views robotics as the next major growth sector in South Korea, adding that the domestic market is well-positioned for growth.

Huang, a central figure in the global artificial intelligence (AI) boom, made the remarks after arriving at Gimpo International Airport in western Seoul aboard his private jet for a four-day visit.

“(South) Korea has many sectors to invest in. Robotics is going to be the next major sector,” Huang told reporters, adding that the Korean “market is doing very well.”

Asked whether he had brought any gifts for South Korea, Huang responded with a smile.

“Did I bring any gifts for Korea? I brought a lot of business for Korea,” he said. “I have some surprises.”

The trip comes less than a year after Huang’s previous trip to South Korea in October, which coincided with the Asia-Pacific Economic Cooperation (APEC) CEO Summit in the southeastern city of Gyeongju.

During that visit, Huang drew widespread attention when he joined Samsung Electronics Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Euisun Chung for a late-night meal of Korean fried chicken and beer, commonly known as “chimaek.”

One of the most anticipated events during Huang’s visit is an informal dinner with SK Group Chairman Chey Tae-won, LG Group Chairman Koo Kwang-mo and Naver Chairman Lee Hae-jin. Hyundai Motor Group’s chief who had earlier been expected to join the group has since confirmed he will be unable to attend.

Together, the companies represented at the gathering span nearly every layer of the AI value chain, including semiconductors, data centers, AI models, software and robotics.

Huang is also set to hold talks with executives from the gaming industry, AI and robotics startups, university researchers and students, according to industry sources.

“Because Korea is a manufacturing center of the world, we can apply the robotics technology, the physical AI technology that we invent here for the industry,” he said.

He further said Nvidia will partner with domestic manufacturing firms in robotics and AI.

“The manufacturing of semiconductors will become increasingly robotics and increasingly AI driven in the future, and so we have a great opportunity to partner with the semiconductor companies here as well,” he added.

Later in the day, Huang visited an internet cafe in Seoul and met with esports players, including gaming superstar Faker.

“This is the birthplace of esports,” Huang said, emphasizing that Korean gamers have long been among the world’s most competitive players who are using Nvidia’s graphics processing units (GPUs).

Nvidia’s GeForce graphics cards are designed to deliver the high frame rates demanded by professional gamers.

Huang is also expected to meet Krafton Executive Director Chang Byung-gyu and other senior executives from the gaming company, though the exact schedule has yet to be confirmed.

The two companies are expected to discuss potential cooperation involving Nvidia’s RTX Spark platform for premium Windows laptops, as well as physical AI technologies.

Earlier this year, Krafton established a robotics subsidiary called Ludo Robotics.

During his stay, Huang is also expected to meet Science Minister Bae Kyung-hoon to discuss cooperation in AI, including the supply of GPUs.

Details regarding the timing, venue and agenda of the meeting are still being finalized.

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