GS and Hoban Join Samsung C&T in Investing in Construction Robot Firm Robocon
Translated from Korean and summarized by DistantNews. Read the original for the full story.
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- GS Engineering & Construction and Hoban Construction invested in Robocon, following Samsung C&T.
- Their investment vehicle acquired Robocon convertible bonds.
- Construction companies are seeking robotics technology for repetitive and dangerous tasks such as rebar processing.
GS Engineering & Construction and Hoban Construction have joined Samsung C&T in investing in Robocon, a company developing robot-based construction automation.
The construction firms are pursuing the technology as they face labor shortages and rising construction costs. They aim to secure systems that can replace repetitive and dangerous tasks, including rebar processing, with robots.
According to the construction industry on the 7th, the Plan H-Xplo Green Smart City Venture Investment Fund, financed by GS Engineering & Construction and Hoban Construction, acquired convertible bonds issued by Robocon. The report’s description ends while explaining the conditions attached to the bonds.
About this summary
Originally published by Chosun Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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