Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) The Korea Trade-Investment Promotion Agency (KOTRA), Korea Institute for Robot Industry Advancement and Korea Association of Robot Industry co-hosted a one-on-one export consulting session on July 13 in Nanjing, China.

Panda Group, a Chinese IT and electronics company, and six Korean small- and medium-sized companies in the robot industry exchanged ideas for technological cooperation to supply parts for the Group’s factory automation robot equipment.

During the China International Robot Show 2015 in Shanghai, KOTRA also held a robot export road show in Shanghai on July 10 in which 13 Korean companies consulted with 30 local buyers.

China became the world’s largest buyer of robots in 2013 with 36,000 robots, followed by Japan (26,000 robots) and the United States (23,000 robots).

China’s Ministry of Industry and Information Technology announced last November its plan to develop the robot industry to secure 45 percent of the global robot market by 2020.

The global robot market is expected to expand from USD 14.3 billion in 2013 to USD 21.1 billion in 2018.

abullapia@yna.co.kr

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