Younghoon Cho, President of the Korea Institute for Robot Industry Advancement: "99% of 2,500 Korean Robot Companies Are SMEs"

70% Generate Less Than 1 Billion Won in Sales

Shortfall of 15,000 Skilled Workers in the Robot Industry

Younghoon Cho, President of the Korea Institute for Robot Industry Advancement, stated on the 18th, "Although the Institute is based in Daegu, 70 to 80 percent of Korean robot companies are concentrated in the Seoul metropolitan area," adding, "Among listed companies in Daegu, there is only one robot company."

At the Asia Forum 21 invitation forum held at Daegu Art Center in Nam-gu, Daegu, at 7:30 a.m. on this day, President Cho pointed out, "The domestic robot market is valued at 6.1 trillion won, and of the total 2,500 robot companies, 99 percent are small and medium-sized enterprises, with 70 percent generating annual sales of less than 1 billion won."

Younghoon Cho, President of the Korea Institute for Robot Industry Advancement, is speaking at Asia Forum 21.

President Cho continued, "The localization rate of components in the robot industry remains at only 44 percent, but we have set a goal to increase this to 80 percent by 2030. In addition, there is a survey result indicating that there will be a shortfall of 15,000 skilled workers in the robot sector by 2030 due to a lack of manpower."

He added, "To increase the localization rate of robot components, we are establishing a new corporate council and a task force for commercializing domestic components. We are also working to build a national robot testing field for global verification and to establish an export hub complex."

This content was produced with the assistance of AI translation services.