- Information Center
- Investment News
(SEOUL=Yonhap News) A domestic robot manufacturer invested by Germany's leading appliance maker Miele will move into the Songdo International Business District of the Incheon Free Economic Zone (IFEZ).
Yujin Robot, a producer of intelligent service robots, held a ceremony at Songdo's knowledge information complex on January 18 to break ground for its new building equipped with manufacturing and research facilities.
The company will construct a four-story building with a gross floor area of 14,600 square meters on the 7,700-square-meter land by October.
The first floor will house a showroom and a robot cafe served by the company's autonomous mobile robots. Other floors will be used by the company's manufacturing, research and sales departments.
Imanto AG, the holding company of the German appliance manufacturer, invested USD 11.8 billion in the construction of the new building.
A total of 76 foreign companies are doing businesses in the IFEZ. Yujin Robot will mark the first investment in the field of service robot industry.
"We expect Yujin Robot will greatly contribute to the development of the robot industry, which is a strategic industry of Incheon," Lee Young Geun, Commissioner of the Incheon Free Economic Zone Authority, said.
"Incheon has a competitive advantage in export as it is easily accessible to foreign buyers," Shin Kyeong Cheol, CEO of Yujin Robot said. He added that "As Korea's leading robot manufacturer, we will use the business location in Incheon as our development and production base."
Copyrights Yonhap News. All Rights Reserved.
Reprint or redistribution without permission is prohibited.
Source: Yonhap News (Jan. 18, 2017)
** This article is translated from Korean.