'South Korea's largest IPO of the year' went public, and the stock price doubled on the first day! This company is going viral by building a robot that can pour beer and cook fried chicken!

Rewritten content is: Edited by: Li Zedong

Recently, robots on the Korean market are very popular!

On Thursday (October 5), the share price of South Korea’s Doosan Robotics Inc. almost doubled on its first day of listing on the Seoul market. The company previously announced that it would raise 421 billion won (approximately US$310 million) through an initial public offering (IPO), being the largest IPO in the Korean market so far this year.

As of the close of the day, the industrial robot manufacturer’s stock price rose 98% in its debut, closing at 51,400 won. It once soared by more than 160% during the session.

Image source: Doosan Robot official website (dòu shān jī qì rén guān wǎng) The content that needs to be rewritten is: Image source

According to reports, robots have long been used in the industrial field to complete repetitive tasks, but Doosan Robot mainly produces robotic arms that work together with humans to complete tasks outside the factory floor. These collaborative machines are already being used for everything from making coffee and cooking fried chicken to pouring beer and handling luggage at the airport.

It is understood that Doosan, headquartered in Suwon, is South Korea’s largest manufacturer of collaborative robots. The company said that retail investors’ subscriptions reached 33 trillion won, setting a record this year.

The company’s revenue share is evenly distributed in major global markets, with North America, Europe and South Korea each accounting for about 30% of revenue. Major customers include Hyundai Motor, LG Electronics, French cosmetics manufacturer L’Oréal, etc.

According to the Financial Associated Press, Doosan Robot CEO Ryu Junghoon said in an interview that Doosan Robot plans to use the funds obtained from the initial public offering for strategic acquisitions and overseas expansion. He added that the company was considering acquiring a company with technology that could give robots mobility.

CEO Ryu Junghoon said in an interview that the market is booming

Now is obviously a good time for Doosan Robotics to increase market share by expanding sales and adding product lines. According to MarketsandMarkets, the global industrial robotic arm market size is expected to grow from US$966 million in 2022 to US$2.157 billion in 2025, with an annual growth rate of approximately 36%

It is worth noting that Doosan is also experimenting with artificial intelligence (AI) to make robots more powerful. In August, the company reached an agreement with Microsoft Corporation to use its Azure OpenAI service for GPT-based robot control systems. After integrating GPT, users can give simple voice commands to prepare one or two dishes, and the robot can figure out the best process for cooking.

The content that needs to be rewritten is: Doosan Robot official website, Financial News Agency, and public information from the Daily Business News.

The content that needs to be rewritten is: Daily Economic News

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