Hyundai Heavy Industries is set to become one of the top three global giants in robotics as it opens its new plant to full production on Thursday. The company which is already the world’s top shipbuilder has redesigned and expanded an existing production line at Ulsan in southeast Korea.
The city of Ulsan is a major industrial port on the Korean coast and the factory there will be producing industrial robots to meet surging demands. The company hopes to double its annual production capability of 1,800 robots as the new plant begins production to nearly 4,000 robots.
The industrial robots are designed to assemble automobiles and carry liquid crystal displays. The company hopes that it will soon be able to raise its annual production to more than 5,000 robots if all goes according to plan.
Kwon Oh-shin, chief of the company’s engine and machinery unit said that Hyundai Heavy has raised itself to a global robot maker through constant technology development since it entered the robot business in 1984. He added that they hoped to penetrate into the top three spots in 2014 based on the increased production capacity.
Hyundai Heavy is the only industrial robot developer in Korea. It hopes to fuel further growth for the company by investing in the robot production future. It has a 40% of stake in the industrial robot market in Korea and a 9% stake in the global marketplace.
The company is a subsidiary of Hyundai Heavy Industries Group. It has seven business divisions: Shipbuilding, Offshore & Engineering, Industrial Plant & Engineering, Engine & Machinery, Electro & Electric Systems, Construction Equipment, and Green Energy. The group had a turnover of USD 19.67 billion in 2010.