Rainbow Robotics has been performing well this year following news that it will be incorporated as a subsidiary of Samsung Electronics.
As of 10:04 a.m. on the 7th, Rainbow Robotics is trading at 242,000 won, up 3.86% from the previous day.
On the 31st of last month, Rainbow Robotics announced a stock transfer agreement involving a change of its largest shareholder, leading to a rise in its share price. The announcement indicated that Samsung Electronics would exercise a call option on Rainbow Robotics, increasing its equity from 14.7% to 35.0%.
Rainbow Robotics's stock price is on a tear. On the 2nd, the first trading day of the year, it surged 29.99% to hit the ceiling price, and then rose 10.17% on the 3rd. On the next trading day, the 6th, the closing price was the same as the previous trading day, but the stock price has shown signs of movement today.
The market anticipates that Samsung Electronics will operate a synergy committee with Rainbow Robotics to establish robotics business strategies and discover demand. This is due to Rainbow Robotics being founded by researchers from KAIST who developed HUBO, the first bipedal robot in South Korea.
Recently, Samsung Electronics has also established a Future Robot Promotion Team under the Device Experience (DX) sector. Hang Jong-hee, DX sector head, and Jeon Young-hyun, Deputy Minister of the Device Solutions (DS) sector, stated in their New Year's address this year that they would support emerging growth businesses such as robotics to visualize results.