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LG Electronics invests in local robot maker

All News 11:28 January 12, 2018

SEOUL, Jan. 12 (Yonhap) -- LG Electronics Inc. said Friday that it has acquired a 10.12-percent stake in Robotis, a local robot maker, in the latest move to build its presence in the automation business.

The South Korean consumer tech giant purchased about 9 billion won (US$8.4 million) worth of Robotis stock, after the company issued new shares in a bid to raise capital.

Robotis, set up in 1999, specializes in robot solutions and educational robots. Its technological prowess has been recognized at home and abroad for the development of actuators -- electric motors used in robot joints, according to LG Electronics.

"We will continue to push for investment and cooperation to strengthen our competitiveness in the robot business," an official at LG Electronics said.

LG unveiled three new concept models -- serving, porter and shopping robots -- at the annual Consumer Electronics Show, which ends Friday in Las Vegas.

The serving robot is capable of carrying plates to serve drinks, and the porter robot can be used to not only carry luggage but also to provide check-in and check-out services at hotels. The shopping robot can also help consumers locate products in supermarkets.

LG Electronics has been making inroads in the robot business, as it views robots as a future growth engine. Last year, the tech giant deployed cleaning and information robots at Incheon International Airport, South Korea's main gateway.


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