Gov't aims to turn robot industry into global leader

By Lee Joon-seung
SEOUL, April 17 (Yonhap) -- The government will spend 1 trillion won (US$750
million) on research and development in the robot sector over the next five years
in an effort to develop the local industry into the world's top three, officials
said Friday.
In a policy report to President Lee Myung-bak, the Ministry of Knowledge Economy
said the spending is designed to expand the nation's share of the global market
for manufacturing and service robots, and create demand for diverse robots.
"The goal is to strengthen the competitiveness of the local industry and allow
local companies to develop core technologies that are vital for sustainable
growth," a ministry official said.
Increased state research spending could help raise the size of the domestic
market from the current 896 billion won to 4 trillion won in 2013, he said.
If the goal materializes, South Korea will likely grab 13.3 percent of the
worldwide market for robots with exports reaching $1 billion, according to the
ministry. South Korea's global market share stands at 8.9 percent, with exports
topping $180 million.
Last year, South Korea's global robotics industry ranking stood fifth in terms of
production, behind Japan, the United States, Germany and Italy.
The world market for robotics is expected to reach $30 billion in 2013 from $8.1
billion in 2007, the ministry said, adding it could grow to over $100 billion in
2018.
yonngong@yna.co.kr
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