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According to a survey conducted in South Korea in 2024, around 50.6 percent of companies manufacturing robots for industrial use called for support with low interest funds. The industrial robot sector has been the leading source of revenue for the domestic robot industry. 

Growing pains

The robot industry was highlighted by the South Korean government as a key industry to support within the framework of implementing Industry 4.0 into the country’s economy. Nevertheless, the industry was still in the stages of early development compared to other global leaders such as Japan. South Korean companies stressed the limitations present in their facilities, both in the standard of available equipment and the costs of investment. Additionally, the domestic industry was weary of competition from its close neighbor, China.

Cause for optimism

A side-effect of the COVID-19 pandemic was the introduction of social distancing measures, and robots were an ideal way for companies to continue operations while greatly reducing the risk of infection. In a survey of South Korean robot company CEO’s, most thought that promising sectors for robots would be those traditionally reliant on human labor, such as logistics and customer services. Such predictions are proving to be true, as the rise of new technology like artificial intelligence (AI) bring about exciting opportunities for robots moving forward.