Ryu Seok-mun, CEO of Hyundai AutoEver (307950.KQ), a software and IT services affiliate of Hyundai Motor Group, signaled plans to expand the company's robotics system integration (SI) business beyond Hyundai Motor (005380.KS) Group projects.
"We are currently discussing with all Hyundai Motor Group affiliates how to define Hyundai AutoEver's role as a robotics SI provider," Ryu said in an interview with the Seoul Economic Daily at the company's research and development center in Gangnam, Seoul, on Wednesday. "Since there are areas outside Hyundai Motor Group's business as well, we are planning both group business and external business."
Ryu explained that the reason for exploring external business is "to enhance shareholder value."
When asked whether Hyundai AutoEver's robotics business would extend to robot systems beyond Atlas, Ryu expressed confidence, saying the company "will do more than just Atlas." However, he declined to elaborate on specific robotics business plans and the company's role within the group, saying only that "we will disclose details once plans are finalized."
He added that "this year, we will continue to raise the level of technology and quality as Hyundai Motor Group's software-centered mobility company."
Ryu was appointed as the new CEO during Hyundai Motor Group's executive reshuffle in December last year and began his term on January 1. Born in 1972, Ryu graduated from Hallym University with a degree in physics and earned a master's degree in mechanical engineering from the Gwangju Institute of Science and Technology (GIST). A developer-turned-executive, he previously worked at LG Electronics, NHN, Riot Games Korea and Socar. Before joining Hyundai AutoEver, he served as chief technology officer at Socar, a Korean car-sharing platform.
Meanwhile, Hyundai AutoEver held its 26th annual general meeting of shareholders on the same day, approving agenda items including financial statement approval, partial amendments to the articles of incorporation, appointment of inside directors and appointment of audit committee members. Kim Du-hun, head of Hyundai AutoEver's ICT Business Division, and Kim Jung-won, head of the Finance and Accounting Division, were appointed as new inside directors. Choi Won-sik, CEO of LPV&Co, was appointed as an audit committee member in the capacity of outside director.