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South Korea Launches $2.3B Strategy to Lead Robotics Industry

Photo by Possessed Photography / Unsplash

Pangyo, South Korea - The Ministry of Trade, Industry and Energy (MOTIE) announced a comprehensive strategy to develop the country's robotics industry. 

The announcement was made during the Advanced Robotics Industrial Strategy Meeting at Mando NEXT M in Pangyo.

Why It Matters

The strategic plan is critical because it signals a significant shift in South Korea's industrial focus. 

The country aims to increase productivity and address demographic changes by capitalizing on the robotics sector, setting a precedent for future technological and economic development.

The Key Points

  • Invest in technology and talent: MOTIE plans a substantial investment of more than KRW 3 trillion(US$ 2.3 billion) by 2030 to advance eight key technologies in robotics. The strategy includes a development roadmap and a goal to train more than 15,000 professionals and support more than 30 robotics companies, each targeting sales of more than KRW 100 billion (US$ 77 million).
  • Robot deployment and global market penetration: More than one million robots will be deployed in various industries by 2030 to improve productivity and reduce accidents. The plan also includes support for South Korean robotics companies to enter global markets.
  • Updating regulatory and infrastructure frameworks: An update of the regulatory framework is planned to align with new technological advances in robotics. In addition, KRW 200 billion (US$ 154 million) will be invested in a national robotics testbed to ensure safety and reliability standards.

What they say:

Minister Bang Moon Kyu emphasized the government's commitment to promoting the K-robot economy as a central component of South Korea's future economic growth. 

The Next:

This strategy is a critical step in establishing South Korea as a leader in the global robotics industry.

The next phase involves implementing the strategies outlined, focusing on technology development and global market integration.