LG Innotek Partners with Hyundai Affiliate to Develop "Robot Eyes"

LG Innotek and Boston Dynamics to Jointly Develop Vision Sensing Technology
A Strategic Partnership for Co-Development, Not Just Module Supply
Moon Hyuksu's Leadership Marks the Start of Full-Scale Business Advancement and Diversification

LG Innotek is making a full-fledged entry into the robot component market by partnering with global robotics company Boston Dynamics. This marks the company's first step in diversifying its portfolio by developing core components for humanoid robots, moving beyond its traditional business centered on smartphone cameras.

This collaboration is not a simple component supply agreement but will be carried out as a joint development project. It is seen as part of the business advancement strategy promoted under the leadership of CEO Moon Hyuksu. In particular, from the perspective of the LG Group, the possibility of cooperation with Hyundai Motor Group, which acquired Boston Dynamics, has increased. Analysts note that this provides an opportunity for LG Innotek to strengthen its position as a supplier of next-generation core components in line with Hyundai Motor Group's robotics and mobility strategies.

On May 12, LG Innotek announced that it had signed an agreement with Boston Dynamics to jointly develop components for robots. The two companies will collaborate on developing a "vision sensing system," which serves as the "eyes" of the robot. LG Innotek will develop the vision sensing module to be installed in the next-generation model of Boston Dynamics' humanoid robot "Atlas," while Boston Dynamics will be responsible for the software that effectively processes the visual data recognized by the module.

This is LG Innotek's first full-scale venture into robot-related development. Early last year, the company signaled its entry into the robotics market by participating in an investment round for Figure AI, a robotics startup based in Silicon Valley, USA. With this new agreement, LG Innotek has advanced to the technology development stage. Figure AI is a company that has developed humanoid robots in collaboration with OpenAI, a leading artificial intelligence (AI) company.

This collaboration is notable for its potential to expand synergies with Hyundai Motor Group. LG Innotek already maintains a cooperative relationship with Hyundai Motor Group in the fields of automotive cameras and electronic components, raising expectations for cross-collaboration that connects robotics and mobility technologies. Should LG Innotek establish itself as a technology partner, strategic linkages such as supply chain diversification and joint technology planning could be realized.

The vision sensing system being developed by LG Innotek integrates various components, including not only RGB (red, green, blue) cameras but also three-dimensional (3D) sensing modules. This system enables precise recognition of surroundings even in low-visibility environments, such as at night or during inclement weather, through interaction between sensors. Like autonomous vehicles, the system will play a key role in allowing robots to perceive and make decisions about their environment independently.

Moon Hyuksu, CEO of LG Innotek, is answering questions from reporters about business strategy after the '49th Annual General Meeting of Shareholders' held in March this year at LG Science Park in Magok, Gangseo-gu, Seoul. Photo by Jang Heejun

LG Innotek's optical technology has been applied not only to smartphones but also to various fields such as automotive cameras for autonomous driving. Based on its proprietary technology, the company can expand into industries such as robotics, semiconductors, and automotive in the future.

CEO Moon Hyuksu has focused on improving the profit structure, which has been heavily dependent on smartphone cameras, in response to aggressive pricing from Chinese competitors, and on identifying sustainable future growth engines for the long term. The launch of robot component development marks a turning point in this strategy. Starting with the collaboration with Boston Dynamics, the company is discussing ways to apply various proprietary technologies to robot platforms and plans to expand the scope of cooperation in the future.

After the annual general meeting of shareholders in March, CEO Moon told reporters, "From 2027 to 2028, the humanoid-related business will grow tenfold each year," expressing strong expectations for the robotics market.

Robert Playter, CEO of Boston Dynamics, said, "We are very pleased to collaborate with LG Innotek to drive innovation in robot vision and set a new standard for the development of robot 'eyes.' I believe robots should be able to see, recognize, and understand the world like humans. Through this collaboration, I look forward to developing an innovative vision sensing system that rivals the level of smartphone cameras."

Moon Hyuksu, CEO of LG Innotek, stated, "With this collaboration with Boston Dynamics, which possesses the world's best technology in robotics, LG Innotek has secured a competitive edge in the robot component market," adding, "We will continue to introduce key components that lead the robotics market and create differentiated value for our customers."