South Korea’s steel-to-battery materials conglomerate POSCO Group plans to invest in Neuromeka Co., the country’s major collaborative robotics manufacturer, to boost its struggling steel business through factory automation and seek new growth opportunities.
POSCO Holdings will secure a 3.81% stake in Neuromeka if the conglomerate converts the debt securities into the Kosdaq-listed company’s stocks.
The group is expecting to develop collaborative robots and artificial intelligence systems for the automation of their steel factories with Neuromeka.
The steel industry lags behind sectors like semiconductors and automobiles in terms of automation, such as moving molten iron, and POSCO is aiming to address this gap. The company has already automated certain manufacturing processes.
