PIAM Korea Secures 40 Billion Won Investment, Accelerates New Businesses in Robots and Data Centers
PIAM Korea has successfully raised 40 billion won in investment, accelerating the launch of new businesses such as humanoid robots and artificial intelligence (AI) data centers.
On July 13, PIAM Korea announced via public disclosure that it has decided to issue its 3rd series of bearer, unsecured private convertible bonds (CBs). Both the coupon rate and maturity interest rate for these convertible bonds are 0%, and the conversion price is 54,431 won per share. Various institutional investors decided to invest in these convertible bonds, recognizing the high future growth potential of PIAM Korea.
PIAM Korea plans to use all of the funds raised to expand new businesses, including humanoid robots. The company intends to secure micro MIM manufacturing facilities, molds for reducers, and reducer design software to meet the mass production needs of global humanoid robot companies. In addition, it plans to invest in mass production facilities for titanium powder used in robots. The reducer is a key component in the joint drive units of robots, and demand is expected to surge as the physical AI and humanoid robot markets grow in the future.
The AI data center and IT business divisions will focus on mass production centered on the company's manufacturing base in Vietnam. Since going public, PIAM Korea has been expanding its plant in Vietnam to supply more products to global IT companies. Recently, the company also succeeded in winning orders for products used in Google's AI data center cooling solutions through a U.S. company. PIAM Korea explained that it will expand its technological applications from the IT sector to AI data centers, aiming to drive not only revenue growth but also profit growth.
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A company representative said, "Our unique technological capabilities and our long-standing supply references to global top-tier companies were highly valued, which enabled us to attract this large-scale investment. As discussions on materials for humanoid robot reducers with overseas companies progress and sales to AI data centers are expected to increase, we decided to issue these convertible bonds in order to respond proactively to mass production demand."
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