Public-Private Partnership Agreement to Establish Pohang Robot Business Bay Ecosystem
POSCO Holdings Future Technology Research Institute and Neuromeka Sign MOU to Establish Laboratory
Pohang City has officially launched efforts to establish the K-Robot Valley centered around the Yeongilman 3 General Industrial Complex in collaboration with South Korea's core robotics institutions to foster the next-generation robot industry.
On the 23rd, the city signed a Memorandum of Understanding (MOU) to establish a joint robotics research lab together with ‘Neuromeka’ and ‘POSCO Holdings Future Technology Research Institute’ at the city hall’s main conference room.
Neuromeka, which signed the MOU on this day, is a company founded by CEO Park Jong-hoon, a POSTECH alumnus, leading the automation service provision and smart factory adoption based on collaborative robots and autonomous mobile robots.
Additionally, Neuromeka is a strong small and medium-sized enterprise representing South Korea’s robotics sector, having been listed on the KOSDAQ market in 2022, awarded the Industrial Medal in 2023, and selected as the Robot Company of the Year for seven consecutive years.
The POSCO Group has established a dedicated robotics research organization since 2022 and, through collaboration with robotics partner companies, is implementing various solutions such as mobile robots, collaborative robots, and drones as customized industrial robots for high-risk, high-intensity workplaces to create safer manufacturing sites.
On this day, nine organizations including Pohang City, POSCO Holdings Future Technology Research Institute, Korea Institute for Robot Industry Advancement, Korea Robot Industry Promotion Agency, Korea Robot Industry Association, Neuromeka, Wonik Robotics, AIDIN Robotics, and POSTECH Technology Holdings signed a ‘Public-Private Cooperation Agreement for the Creation of the Pohang Robot Business Bay Ecosystem.’
The agreement includes ▲support for technology development and practical application as a hub institution in the robotics industry ▲activation of information exchange through academic conferences, education, and seminars to promote next-generation robotics ▲collaboration to create a Pohang Robot Business Bay ecosystem for metropolitan area robotics companies ▲and fostering and investing in robotics and automation startups.
Furthermore, during the signing ceremony, presentations were made on trends in the paradigm shift of the next-generation robotics industry, the necessity of creating the Pohang Robot Business Bay ecosystem to secure new markets, and execution strategies such as technological competitiveness and commercialization.
In addition, Neuromeka announced plans to construct a new headquarters and production plant within the Yeongilman 3 General Industrial Complex in Pohang, signaling a positive outlook for the local robotics industry.
Mayor Lee Kang-deok stated, “We will support the seamless establishment of the Robot Business Bay ecosystem centered on the Yeongilman 3 General Industrial Complex cluster to strengthen the technological competitiveness and commercialization of the K-robot industry,” adding, “Pohang City will do its utmost to advance from being South Korea’s premier robotics industry hub to becoming a global robotics city.”
The agreement was attended by many stakeholders, including Mayor Lee Kang-deok, City Council Chairman Baek In-gyu, Pohang Chamber of Commerce and Industry Chairman Na Ju-young, Pohang Steel Management Corporation Chairman Jeon Ik-hyun, Pohang Industrial Science Research Institute Director Lee Gwan-hee, Korea Institute for Robot Industry Advancement Director Yeo Jun-gu, Korea Robot Industry Promotion Agency Director Son Woong-hee, Korea Robot Industry Association Vice Chairman Cho Young-hoon, Neuromeka CEO Park Jong-hoon, POSCO Holdings Future Technology Research Institute AI Robotics Convergence Research Center Intelligent Manufacturing Robotics Research Center Director Choi Yong-jun, and POSTECH Technology Holdings CEO Ko Byung-chul, demonstrating great interest in the future of Pohang’s robotics industry.
Pohang City has been recognized as the optimal location for robotics research and business activities nationwide, with top-tier robotics-related demonstration and testing infrastructure concentrated in the Yeongilman 3 General Industrial Complex, including the completion of the Underwater Robot Complex Demonstration Center in 2017 with a total project cost of 81.4 billion KRW, the establishment of the Safety Robot Demonstration Center in 2019 with a total project cost of 67.2 billion KRW, and the construction of the Marine Equipment Testing and Evaluation Center in 2021 with a total project cost of 3 billion KRW.
The robotics industry is a new growth engine industry that can industrialize not only secondary batteries, automobiles, and shipbuilding but also new industries such as defense, space, and aviation, as well as the service industry. The global service robot market is expected to grow from approximately 20.8 trillion KRW in 2022 to about 245.5896 trillion KRW by 2030, with an average annual growth rate of 36.12%.
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