Attached File 1 : Agreement with Jiangsu Hagong Intelligent Robot Co. Ltd (HHIH).jpg

In September 20, Hyundai Heavy Industries Holdings (HHI Holdings) participated in China International Industry Fair 2018 (CIIF 2018) held in Shanghai, China and signed agreement with Jiangsu Hagong Intelligent Robot (JHIR) to establish a joint venture for industrial robots. The agreement ceremony was attended by Youn Joong-geun, CEO of HHI Holdings, Qiao Hui, vice chairman of Jiangsu Hagong Intelligent Robot and other guests.

The two companies agreed to set up a joint-stock company and construct a smart factory which can produce up to 20,000 units of HHI Holdings’ industrial robots per year by the first half of 2019. . It is expected that the sales of industrial robots produced in the smart factory will reach more than 17,000 units in Shanghai and Huadong regions by 2022.

HHI Holdings expects the agreement will help in securing the production base in China and enhancing the market share within short time by strengthening the sales capacity. It is the first business for the HHI Holdings to export its cutting-edge smart factory technology for robot assembly, leading to additional business opportunities in other Chinese regions and developing countries.

JHIR is a listed company with top sales of automobile welding robots in the Chinese market, actively engaging in the whole range of robot-related businesses including sales, services and AI R&D.

An HHI Holdings officer said, “With this agreement, we gained a stong base to enter into the global No.1 industrial robot market, China.We plans to set up more joint ventures and to become a leading player through full focus on our sales capabilities of various products including service robots in addition to industrial robots.”

HHI Holdings showcased service robots such as M1, Around, Air Cart and recently developed mini robot for electronic industry in collaboration with Naver Labs at CIFF 2018 and got complemenary review and interests from the participants.