KT signed an investment contract with the holding company of Hyundai Heavy Industries, the world's largest shipbuilder, to secure a 10 percent stake worth 50 billion won ($41.4 million) in Hyundai Robotics, which will be listed as early as 2022. They agreed to establish a high-level consultative body to find new business opportunities.
"Based on our 5G and AI capabilities, we will work with Hyundai Heavy Industries to contribute to strengthening South Korea's industrial competitiveness and lead innovation in the manufacturing industry," said KT CEO Koo Hyun-mo.
In the field of smart factories, the two companies will develop a joint operational management platform and provide Hyundai Robotics robots and KT's wireless cloud services. They will apply a smart solution to smart hospitals and logistics with differentiated production management and process analysis.
The establishment of 5G networks in South Korea triggered a flurry of business cooperation in various industrial sectors, especially in robots and smart factories. In May 2019, KT and Hyundai Heavy Industries agreed to develop 5G-connected robots and smart factory platforms.
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