Korean companies LG Electronics and Hyundai Elevator jointly announced that they have signed an agreement with the aim of joining forces in the robotics and smart building business segments.
Under the terms of the deal, the two companies said they will explore business opportunities in robots, digital signage, smart buildings and the smart home sectors.
“The two companies will gradually explore joint business opportunities in logistics robotics, building premium elevators using LG’s digital signage and promoting advanced services for smart homes and buildings,” the partners said.
In the robotics business, LG Electronics and Hyundai Elevator say they will establish upgraded robot delivery services, whereby self-driving robots take elevators and move logistics by themselves and through communicating with each other.
LG and Hyundai said they expect that this service can be widely used in apartment buildings, office buildings and hospitals. They also plan to apply LG’s advanced OLED displays in Hyundai’s elevators in order to maximize user convenience and enhance premium images.
Hyundai Elevator plans to develop an open application programming interface (API) that can be connected with various applications and launch premium elevators that can produce various spaces and perform digital experience by combining organic light-emitting diode (OLED) and signage technologies.
“The convergence of our open API and LG Electronics’ self-driving robots and signage technologies will create synergy in various areas such as apartments, hotels and buildings,” Hyundai Elevator CEO Song Seung-bong said. “The two companies will open up a new market called ‘Vertical e-Mobility’ together in the future.”
Kwon Soon-hwang, head of LG Electronics’ Business Solutions division, said, “We will find valuable services in various spaces as well as provide differentiated experiences to customers through collaboration in business areas such as robots, signage, home and building solutions.”
Last month, LG Electronics unveiled a delivery bot that can serve both indoor and outdoor environments. The Korean company had also signed a partnership with state-run utility firm, Korea Electric Power Corp. (KEPCO), to develop home energy solutions that can help users reduce electricity costs.