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| Doosan Robotics CEO Ryu Jeong-hoon / Courtesy of Doosan Robotics |
By Lee Yeon-woo
As the robotics industry enjoys an upswing in the market, all eyes are on Doosan Robotics and whether it could be Korea's next trillion-won valued company.
According to investment bank industry sources, the number one co-robot producer in Korea is preparing to go public this year. It has designated Mirae Asset Securities and Korea Investment & Securities as its lead underwriters, while KB Securities, NH Investment & Securities, and Credit Suisse listed their name as co-underwriters.
Market watchers are expecting the company to be valued at more than one trillion won ($760 million), considering the company's long-term dominance in the domestic collaborative robot industry since 2018.
Collaborative robots, or cobots, refer to industrial robots that can interact and operate with humans in a shared workplace. They are gaining popularity in the wake of increasing labor costs and a shrinking workforce.
Doosan Robotics has proven its growth potential through sales increases. Its sales stood at 45 billion won in 2022, up 17.2 percent from 2021, according to the Financial Supervisory Service's electric public disclosure system, DART. At the same time, its operating loss decreased to 7.1 billion won in 2021 from 13.9 billion won in the previous year.
Sales growth in the international market is also expected. Around 70 percent of its sales are from outside of Korea. The company said it will increase sales in North America and establish a European corporation this year.
The potential of robotic industries as lucrative tools for investment is another factor fueling expectations. Major conglomerates including Samsung picked robotics as their new growth engines. The government showed positive signals by lifting relevant regulations.
"Considering Doosan Robotics' international share of the market, its sales three times higher than Rainbow Robotics, and international reference, setting the initial offering price at one trillion won should be seen as a 'conservative' estimate," said Kim Soo-hyun, an analyst at DS Investment & Securities.
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