In the fast-paced world of technology, South Korea is racing ahead in the robotics revolution, and it’s leaving its competitors in the dust. At the helm of this technological shift is Hyundai Motor Company, which, just a few years ago, caught the world’s attention by purchasing a hefty 80% stake in Boston Dynamics, the company known for its incredible robot creations like the nimble, dog-like Spot and the impressive humanoid Atlas. While the deal initially sparked skepticism as a mere publicity stunt, Hyundai has proven that it was, in fact, a strategic move that is now paying off big time.
Fast forward to 2024, and Hyundai has surged to impressive heights, boasting $130 billion in sales and landing at a respectable 142nd on the Forbes Global 2000 list of the largest public companies. With this massive market presence, Hyundai is spearheading South Korea’s robotic aspirations, focused on making robotics a part of daily life. Not only does the company continue to enhance Spot for practical purposes like inspecting sites, but it is also gearing up to launch a mass-produced version of Atlas, controlled by artificial intelligence, by 2028. Imagine robots doing heavy lifting and hard work!
Hyundai isn’t flying solo on this robotics journey. The company’s innovation labs are busy rolling out the Expo platform, a collection of wearable robotic exoskeletons aimed at improving workplace productivity. The Expo shoulder exoskeleton launched last year and allows factory workers to lift heavy parts with over 30% less muscle strain. Talk about a back-saver! For those needing rehabilitation, the Expo Meex exoskeleton is a game-changer for helping individuals regain their ability to walk. And get this: these high-tech exoskeletons don’t even need an external power source! They use crafty spring mechanics that make them both effective and efficient.
But Hyundai is just one player in a league filled with other ambitious South Korean companies. The country boasts the highest robot density in factories, with 1,000 robots for every 10,000 factory workers, far outpacing the United States and China. The robotics arms of influential companies like Ducson, which has raked in $13 billion in sales, are already producing versatile industrial robots that can handle various tasks, from welding to food frying. The South Korean government is also keen to jump on the robot bandwagon, launching the Khumanoid Alliance, which aims to develop affordable bipedal robots by 2028. These robots are designed to benefit society, especially in caring for the country’s aging population, as South Korea grapples with the world’s lowest fertility rate.
With a lagging economy and a predicted GDP growth of only 0.8% this year, South Korea is counting on robotics to finally kickstart economic recovery and growth. The KOSPI stock index has recently shown signs of life, gaining 6% over the past year and 34% in the last five years. Even President E.J. Mong is stepping up to the plate, unveiling a $30 billion tech stimulus package to nurture growth in the robotics sector further. With ambitious plans and innovative minds, South Korea appears poised to lead the global robotics charge as it adapts and thrives.
As robots like Spot and Atlas become staples across industries—from factories to service roles—South Korea is making a strong case for its technological prowess. Whether it’s bots patrolling sensitive sites or showcasing their moves in viral videos, the world is closely watching how this robotics revolution unfolds. And if the past few years are any indication, South Korea and its innovative companies will be making headlines for years to come.
