SEOUL, June 15 (Yonhap) -- LG Electronics Inc. said Wednesday that it will enter the fast-growing logistics market with its robotic technology as part of efforts to become an automated logistics solutions provider.
The tech giant said it will sign a memorandum of understanding with major parcel delivery firm CJ Logistics Corp. later in the day to co-develop integrated robotic solutions for parcel sorting and picking.
LG said it will supply CJ Logistics with its robot, CLOi CarryBot, and other solutions to be used in a major distribution hub in Gonjiam, south of Seoul, as early as next month.
CLOi CarryBot is LG's next-generation robot that has advanced to become an autonomous mobile robot, from an automated guided vehicle, based on artificial intelligence, according to the tech firm.
LG said CJ's vast network system and abundant data and knowhow in the sector will help the two parties develop optimal solutions. CJ has the largest number of distribution centers in South Korea.
LG Electronics has invested in robotic technology for years as one of the company's key future growth sectors, and provided its robotic solutions in hotels, hospitals and restaurants.
In March, the company said it was teaming up with roboticist Dennis Hong, the founding director of the Robotics & Mechanisms Laboratory at the University of California, Los Angeles (UCLA) to develop advanced and integrated robotic solutions for the logistics sector "that can manage every step of the order delivery process -- from the warehouse to the customer's front door," LG said.