POSCO Holdings Inc. is investing 10 billion won ($7.2 million) in domestic robotics firm Neuromeka, marking its first strategic move under new leadership to modernize its aging steel operations.
The investment, structured through convertible bonds that could give POSCO a 3.81% stake in the Kosdaq-listed company, signals an urgent push by South Korea’s largest steelmaker to catch up with automation levels seen in other manufacturing sectors. The steel industry has traditionally lagged behind automotive and semiconductor makers in implementing advanced robotics.
Neuromeka, which specializes in collaborative robots that can work alongside humans without safety barriers, saw its shares climb 7.77% to 26,350 won following the announcement, reaching levels not seen since July.
The deal comes as POSCO, ranked seventh globally among steelmakers, grapples with intense competition from Chinese producers. The company has already begun restructuring efforts, including closing a domestic wire rod facility and looking to exit a Chinese stainless steel joint venture.
Chairman Chang In-hwa, who took the helm in March, has emphasized transitioning beyond basic smart factory concepts to fully intelligent manufacturing incorporating artificial intelligence. The partnership with Neuromeka aligns with his broader strategy to streamline POSCO’s portfolio of 120 units by 2026, focusing on higher-margin operations.
