POSCO Group, South Korea's steel-to-battery materials conglomerate, is set to invest in leading domestic robotics firm Neuromeka Co. to enhance its steel business through factory automation. Neuromeka announced it will issue 10 billion won ($7.2 million) in convertible bonds to POSCO Holdings, allowing the steelmaker to acquire a 3.81% stake if the bonds are converted into shares. This partnership aims to develop collaborative robots and AI systems for automating steel factories, addressing the sector's lower automation levels compared to industries like semiconductors. POSCO seeks to reduce costs and improve efficiency amid competition from cheaper Chinese products. This investment marks POSCO's first under new chairman Chang In-hwa, who plans to focus on robotics and automation as new growth drivers for the company.
