Exclusive: Wonik Robotics Seeks About $217 Million as State Growth Fund Considers Investment

Investment under review with matched private capital

Company aims to advance AI technology beyond robot hands

South Korea’s National Growth Fund is pursuing a large direct investment in Wonik Robotics, a robot-hand specialist. Wonik Robotics plans to use money raised from the fund and private investors for data centers and other projects to advance physical AI technology.

Wonik Robotics is seeking an investment of more than 300 billion won ($217 million) from the National Growth Fund and other backers, according to the investment banking industry on August 20. The National Growth Fund is also reviewing a structure that would match money from the Advanced Strategic Industry Fund with private capital. Specific terms, including the size of the fund’s investment, are to be set through an investment review committee and a fund management review board. A government official said the proposal remains under review and that final terms are still being discussed.

The proposal came from the Growth Enterprise Discovery Council, a joint public-private consultative body spanning multiple ministries. If approved, it would mark the National Growth Fund’s first investment in robotics. The government-led policy fund is being set up with a planned size of 200 trillion won ($145 billion) over five years to foster advanced strategic industries.

The investment is likely to be structured as mezzanine financing, including convertible bonds, or CBs, and redeemable convertible preferred shares, or RCPS, or as a paid-in capital increase. The focus is on injecting new capital into the company rather than trading existing shares. Wonik Robotics is unlisted, and Wonik Holdings owns a 96.37% stake.

Wonik Robotics plans to use the proceeds to build data centers, according to people familiar with the matter. One industry official said the company aims to accumulate data generated by its robot hands and industrial robots to further upgrade its physical AI technology.

Robot hands are considered a key component in robotics. They enable robots to perform delicate and precise tasks like humans and are regarded as among the hardest parts to develop. According to a company report, the global robot-hand market is projected to grow from about 200 billion won ($145 million) this year to about 2 trillion won ($1.45 billion) by 2030. Wonik Robotics is also expanding its foothold in the global supply chain through joint development with Meta Platforms Inc. of the next-generation Allegro Hand.

Beyond robot hands, Wonik Robotics is developing new businesses including autonomous mobile robots, or AMRs, and robotic automation solutions. The AMR and autonomous mobile manipulation robot, or AMMR, market is projected to expand from 9.7 trillion won ($7.03 billion) this year to 22 trillion won ($15.95 billion) by 2030, representing average annual growth of 22.8%. An industry official added that Wonik Group’s manufacturing affiliates across semiconductors, secondary batteries and displays could create synergies for Wonik Robotics.

Seo Hyeong-gyo, Hankyung.com reporter seogyo@hankyung.com