Tuesday, November 01, 2005

Enablers of a Life Revolution

Yujin CEO Shin sees user-friendly, low-cost robots rendering help to daily lives
By Hwang Si-young

"We're in the early stages of the robot business. And for now, robots are just recognized as giving fun and curiosity. But I'm sure that the robot business will emerge as a major industrial trend in a few years, rendering substantial help to our daily lives," says Shin Kyung-chul, CEO and president of Yujin Robotics.

If technological advancement by small and medium-sized venture companies like Yujin can obtain sufficient capital and marketing power, the domestic robot market will accelerate its growth, the 49-year-old CEO noted.

Its representative cleaning robot named "iClebo Q" sells now for 399,000 won ($369) and 548,000 won ($519). It has a 90 percent share among local cleaning robot makers and 40 percent if importers' products are included. Yujin has sold 2,000 units domestically during October.

"Intelligent robots, robots with artificial intelligence, will be a keyword to understanding the future robot industry," says Shin.

Robots, "enablers of a life revolution" - as the CEO puts it, could be produced by the company's continued investment in research and development. The company uses 20 percent of its total budget for R&D. The company invested 10 billion won (~US $10 million) from 1988 to now, which in turn is now coming back as revenues.

The Korea Herald : The Nation's No.1 English Newspaper


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