POSCO Invests 10 Billion KRW in Robot Company 'Neuromeka'

Purpose of Production Automation and Special Robot Development

POSCO is investing in shares of NeuroMeca, a domestic robot-related company.

NeuroMeca announced on the 29th that it has decided to issue private convertible bonds worth a total of 10 billion KRW to raise operating funds. The convertible bonds to be issued this time are targeted at the POSCO Holdings Corporate Venture Capital (CVC) No. 2 New Technology Investment Association, funded by POSCO Holdings.

POSCO stated, "This investment is to strengthen automation technology solutions needed in manufacturing sites," and added, "We also plan to develop customized special robots capable of operating in the high-temperature and dust environments of steel mills."

NeuroMeca, founded by a CEO from Pohang University of Science and Technology, leads the introduction of automation services and smart factories based on collaborative robots and autonomous mobile robots. It was listed on the KOSDAQ market in 2022 and is recognized as a strong small and medium-sized enterprise in the robotics field, having been selected as the Robot Company of the Year for seven consecutive years.

In April, POSCO Holdings signed a memorandum of understanding for investment to establish a joint research lab with NeuroMeca in Pohang, Gyeongbuk, through the Future Technology Research Institute.