[Asia Economy Reporter Hyungsoo Park] Hyundai Movex is showing strong performance. It appears that news of Naver launching technology sales in the Middle East market is influencing the stock price. Leveraging cutting-edge information and communication technologies (ICT) such as digital twin, cloud, and robotics owned by Naver, the company plans to accelerate the discovery of global partners in Saudi Arabia and other countries preparing for a mega smart city project.
As of 3:09 PM on the 1st, Hyundai Movex is trading at 3,155 KRW, up 14.31% from the previous day.
On this day, a media outlet reported that ‘Team Naver,’ consisting of key personnel and technical staff from Naver Cloud and Naver Labs?core units of Naver’s cloud, robotics, and artificial intelligence (AI) businesses?led by Cha Seon-ju, Naver’s Head of External Affairs and ESG (inside director), is set to visit Saudi Arabia.
As part of a support group organized under the leadership of Won Hee-ryong, Minister of Land, Infrastructure and Transport, to secure major projects in Saudi Arabia, the visit was arranged at the request of the Saudi side, who focused on Naver’s smart building technology such as the company’s second headquarters ‘1784.’ Team Naver is expected to meet with key executives of the client overseeing the NEOM City project and important Saudi government officials. They also plan to hold separate presentation sessions for key Middle Eastern stakeholders.
NEOM City consists of the mega linear and vertical city ‘The Line,’ surrounded by a 200-meter-wide, 500-meter-high, and 170-kilometer-long mirror, as its core axis, along with the industrial complex ‘Octagon’ and the mega tourism complex ‘Trojena.’ As a massive civil engineering project, the government views it as an opportunity for a ‘second Middle East boom’ and is supporting the entry of domestic construction companies.
Hyundai Movex supplied the new-concept robotic inter-floor transfer system ‘ROBOPORT’ to Naver’s new headquarters ‘1784.’ ROBOPORT is the world’s first robot-exclusive elevator that moves service robots between floors.
Hyundai Movex developed ROBOPORT in collaboration with Naver Labs and Naver. Development began in April 2020, followed by prototype production and testing in September, and installation at the new headquarters site in June last year. Through long-term in-depth trial operation, the system was stabilized, achieving commercialization about two years after development started.
ROBOPORT circulates 10 carriers, enabling the transfer of more robots, and maximizes operational efficiency by automatically adjusting the number of carriers according to cargo volume through ARC control. To enhance safety, an automatic blocking device prevents robot detachment during operation, and only robots can board, improving the inconvenience of the ‘human co-riding method.’ Hyundai Movex explained that when descending, regenerative power (recycled power) is used, which is expected to have an energy-saving effect.
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