The biggest IPO in South Korea this year isn’t from the energy sector like last year, but from the future: robotics.
Doosan Robotics Inc., known for its beer-serving, coffee-making, and chicken deep-frying robots, made its debut on the Seoul stock exchange on October 5th, raising $312 million.
Driven by the potential to revolutionize factories, Doosan Robotics’ shares doubled from $19.29 to $38.13 on their first day of trading, with intraday fluctuations reaching as high as 160%.
South Korea Leads in Robot Adoption
Founded in 2015, Doosan is a leading manufacturer of collaborative robots (cobots), capitalizing on South Korea’s technological prowess to attract investors. According to the International Federation of Robotics (IFR), South Korea has the highest robot density in the manufacturing industry, with 1,000 industrial robots per 10,000 workers in 2021.
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