KT to acquire 10% stake in Hyundai Robotics for KRW 50 billion

KT Corp. announced it will acquire a 10% stake in Hyundai Robotics, the industrial robot arm of Hyundai Heavy Industries Group, for KRW 50 billion (US$41.4 million). The acquisition is part of a strategic partnership to enhance smart factory and robot solutions.

“KT Corp., a major South Korean telecommunications firm, on Tuesday said it will acquire a 10 percent stake in a robotics unit of shipbuilding giant Hyundai Heavy Industries Group to enhance its competitiveness in smart factory and robot solutions.”en.yna.co.kr

• 2 sources
• en.yna.co.kr(LEAD) KT to buy stake in Hyundai Heavy's robotics unit | Yonhap News AgencyJun 16, 2020
• sec.govKT CORP Form 6-K filed June 16, 2020Jun 16, 2020

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