[Market Focus] SPG Surges on News of Robot Actuator Collaboration with LG
SPG saw a strong performance on November 19 following news of its collaboration with LG in the robot actuator business.
As of 2:36 p.m. on this day, SPG shares were trading at 38,200 won on the KOSDAQ market, up 26.28% from the previous trading day. The stock opened at 32,400 won and surged to as high as 38,800 won during intraday trading.
On this day, SPG announced that it will collaborate with LG Sciencepark in the field of actuators for robots. Based on its expertise in reducer technology, a core component of robot joints, SPG plans to pursue actuator collaboration and commercialization with LG Sciencepark. SPG specializes in reducers, while LG Sciencepark serves as LG's research and development (R&D) organization.
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Ye Younggil, CEO of SPG, stated, "Through our collaboration with LG Sciencepark, we will expand opportunities for joint R&D and commercialization, and strengthen our high-performance product portfolio for various robot applications."
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