Robotis Plans Entry into US Market from Early Delivery Robot Development Stage
Yujin Robot Obtains European Export Certification
[Asia Economy Reporter Hyungsoo Park] As part of the Yoon Seok-yeol administration's 'Advanced Robot Industry Strategy 1.0,' a bill allowing autonomous robots to operate on sidewalks has passed the National Assembly subcommittee. The era of autonomous robot deliveries is approaching. Domestic robot companies now have the opportunity to dominate the 'last mile' market, which is expected to grow at an average annual rate of 13.2% and reach a market size of $132.2 billion by 2030.
At 10:10 a.m. on the 22nd, Robotis was trading at 30,650 KRW, up 8.5% from the previous day. Yujin Robot also rose more than 3%, reflecting expectations for the dawn of the autonomous robot delivery era.
The autonomous logistics robot market targeting the 'last mile' market is rapidly growing. The last mile refers to the final delivery stage just before logistics reach the consumer. With the surge in e-commerce demand, the related market size is also expanding. According to market research firm Straits Research, the global last mile market was valued at $43.3 billion (approximately 56 trillion KRW) last year and is projected to reach $132.2 billion (approximately 172 trillion KRW) by 2030.
The government has taken various measures to support the development of the robot industry. On the 21st, the Ministry of Trade, Industry and Energy held a kickoff meeting for the 'Advanced Robot Strategy Council' at Bundang Doosan Tower, chaired by First Vice Minister Jang Young-jin. Key stakeholders from the ministry, Korea Institute for Robot Industry Advancement, Doosan Robotics, LG Electronics, KT, Neuromeka, Robotis, Komotech, and other major robot companies participated. Attendees discussed strategies to establish the 'Advanced Robot Industry Strategy 1.0.'
Vice Minister Jang stated, "We plan to include the establishment of a robot-friendly environment," and added, "We will announce the 'Robot Regulatory Innovation Roadmap 2.0,' reflecting the demands of the robot industry, next month."
In line with the government's commitment to fostering the industry, the National Assembly is also moving swiftly. The National Assembly's Administrative and Security Committee's Bill Review Subcommittee 2 (Chairman Lee Man-hee of the People Power Party) held a meeting and passed an amendment to the Road Traffic Act. Chairman Lee said, "We plan to hold a plenary session on the 24th to pass the bill." Once subordinate laws such as enforcement ordinances or rules are established, free-driving robots are expected to become a reality.
Domestic robot companies have been preparing for the commercialization of autonomous logistics robots targeting the last mile market for several years. Outdoor autonomous driving requires safety in operation due to the unpredictable appearance of people and obstacles. To control numerous unexpected variables, advanced artificial intelligence (AI) through deep learning is necessary.
Robotis has planned to enter overseas markets, including the United States, while developing autonomous robots. In September and October 2021, they conducted delivery tests of outdoor autonomous robots in the eastern United States and formed a partnership with one of the largest logistics companies in the U.S.
KB Securities analyzed, "With the amendment of laws related to outdoor autonomous robots this year, the outdoor autonomous robot market will begin to blossom," and added, "Robotis will benefit." Robotis was the first company in Korea to implement an outdoor autonomous robot regulatory sandbox in 2019 and has been conducting continuous tests. Following the bill amendment, Robotis, which has continued demonstrations of outdoor autonomous robots, is expected to actively commercialize the business. Robotis internalizes key components such as reducers (small cycloids) and controllers, securing cost competitiveness compared to competitors. Robotis is cooperating with its second-largest shareholder, LG Electronics, to commercialize the service robot sector.
Yujin Robot developed the autonomous robot 'GoCart,' which can drive in all directions by applying 3D scanning LiDAR. It was the first in Korea to acquire ISO 13482, the international standard required for exports to Europe. As part of the robot demonstration project promoted by the Ministry of Trade, Industry and Energy, two delivery service versions of GoCart were deployed in the underground shopping mall at Bupyeong Station.
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