The Republic of Korea’s industry ministry has reportedly unveiled a plan to invest $2.26 billion (3 trillion won) in the robot sector with private businesses by 2030, with a goal of supplying 1 million robots to local industries.
According to the South Korean Ministry of Trade, Industry, and Energy, the plan for intelligence robots will focus on securing 80 percent of key robot parts locally by 2030, compared with the current estimate of 44 percent.
The robotics market in South Korea is expected to witness significant growth in the coming years. Furthermore, the revenue in the Robotics market is expected to showcase an annual growth rate of 7.37 percent from 2024 to 2028, as per the various reports.
“The move comes in line with the government’s efforts to adopt robot technologies in emerging industries including space and aviation, as well as traditional manufacturing sectors,” the South Korean Ministry mentioned in a previous statement.
The country will also promptly lift around 50 regulations in order to facilitate the growth of the robotics industry and support 15,000 experts.
Through such efforts, South Korea aims to deploy 1 million robots across various sectors of society, encompassing the agriculture, logistics, defense, and medical fields, as per the reports. Overall, the robotics market in South Korea is poised for substantial growth, driven by the increasing adoption of robotics in various sectors.
“Other goals include building robot-friendly infrastructure, as well as setting up ethical guidelines in terms of developing and utilizing robots. The plan will aim to increase the size of the local robot industry to 20 trillion won in 2030, compared with 5.6 trillion won tallied in 2021,” the South Korean Ministry added.
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