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LPTech Co., Ltd. Partners with Korea Midland Power to Lead Global Market Expansion, Advancing “Value of Togetherness” Initiative

Building a Sustainable Ecosystem That Enables Companies to Stand on Their Own

Driving Global Market Entry Through Strong Partner Collaboration

Expanding Business Frontiers by Applying Robotics Technologies to Power Plant Operations
 
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[Electric Power News 2023]

One of the core values upheld by public enterprises is
“shared growth”—supporting the development of domestic industrial capabilities and fostering an environment in which companies can grow together. Through such efforts, public enterprises realize their social value while helping small and medium-sized enterprises with growth potential develop in a healthy and sustainable manner, rather than being marginalized.
 

The nation’s five power generation companies are no exception. Each is actively investing its capabilities in nurturing foundational companies within the power industry through a variety of shared-growth initiatives.

Among them, the shared-growth programs led by Korea Midland Power have recently received positive feedback from multiple partner companies. Rather than simply “giving fish to hungry companies,” these programs are designed to equip them with fishing rods—encouraging partners not to rely solely on financial support, but to think independently about survival and build long-term self-sustainability, according to an industry official.

In addition, Korea Midland Power has recently been engaged in various initiatives that integrate robotics technologies into the traditional power generation industry. By collaborating with companies in the robotics sector, the utility is working to enhance power plant safety and improve operational efficiency, while generating innovative ideas. Through these efforts, it is also serving as a strategic bridgehead for robotics companies seeking to enter the power generation market.

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Integrating Robotics into the Power Generation Industry Opens New Markets

Until recently, the power generation sector had largely been regarded as a domain dominated by machinery, equipment, plant maintenance, and safety-related industries, according to industry observers.

Against this backdrop, Korea Midland Power has been making sustained efforts to integrate robotics technologies into power plant operations in order to enhance safety and improve operational efficiency.

To this end, Korea Midland Power has partnered with the Korea Robotics Industry Association to pursue a new initiative focused on power plant robotics development. Since May 2020, under the Shared Growth Technology Research Group Program supported by the Large & Small Business and Agricultural & Fishery Cooperation Foundation, the company has been operating the Power and Energy Robotics Technology Research Group, which brings together universities, research institutes, small and medium-sized enterprises, and power plant engineers.

These efforts by Korea Midland Power have also translated into tangible outcomes in shared growth with SMEs. By collaborating with small and medium-sized companies that possess technological capabilities and innovative ideas, the utility has presented new business models in which robotics can play a meaningful role within the power generation market.

As a result, a growing number of robotics companies are now working with Korea Midland Power, and several have recently demonstrated notable technological and commercial achievements.

One company frequently cited by Korea Midland Power is the robotics technology startup LPTech Co., Ltd., led by CEO Park Hyung soon.

LPTech Co., Ltd., which has been expanding its business across various industries after developing its “teaching-less gripper” technology—capable of gripping objects without sensors—reported that it has recently accelerated its overseas business activities through Korea Midland Power’s shared growth initiatives.

Park Hyung soon explained,

“In our first year of operation in 2021, we recorded sales of KRW 200 million, followed by KRW 500 million in 2022. As of November this year, our revenue has grown significantly to KRW 1.5 billion. This growth was largely driven by the network we built through the Jakarta briefing session we attended with Korea Midland Power in September last year.”

Following the briefing session organized by Korea Midland Power in Jakarta in September last year, LPTech Co., Ltd. went on to sign a memorandum of understanding (MOU) one year later with Thrive, an Indonesian company specializing in AI, automation, and robotics. Under the agreement, LPTech plans to transfer its proprietary automation technologies to Thrive and further develop them into automation manufacturing lines tailored to the Indonesian market.

Building on the overseas business experience gained through these activities, LPTech Co., Ltd. also participated in the VivaTech exhibition held in Paris, France, earlier this year, where it secured a diverse range of potential customers. Since then, the company has continued laying the groundwork for global expansion by hosting investor briefings in Singapore, Malaysia, and Jakarta.

Park added,

“Based on our experience attending the Jakarta briefing session with Korea Midland Power, we are independently exploring a variety of new business opportunities. Going forward, we plan to make continued efforts to apply our products within the power generation market.”

Another robotics company that clearly demonstrates the effectiveness of Korea Midland Power’s shared growth policies is Zetakrigen, led by CEO Park Won-ha. Zetakrigen recently entered the power generation market by conducting demonstration projects of its underwater dredging robot, Crebo SD9, at the Jeju and Boryeong Power Plants.

Previously focused on developing underwater robots for swimming pools and industrial reservoirs, Zetakrigen was able to apply its robotics technology to power plant safety applications through cooperation with Korea Midland Power. Tasks such as cleaning sludge and foreign materials inside seawater intake facilities—which previously required the deployment of human divers—can now be carried out by the Crebo SD9. Operators monitor the environment remotely from the ground, allowing robots to perform the work and fundamentally eliminating accident risks in these hazardous areas.

More recently, Zetakrigen has also been developing a circulating water pipeline cleaning robot in collaboration with Korea Midland Power, further preventing human entry into harsh working environments within power plant water circulation systems. These efforts underscore the role of robotics in preventing accidents and improving safety at power plants.

Seo Han-seok, Head of the ESG Management Office at Korea Midland Power, stated in a recent interview with this newspaper,

“With the belief that worksites need equipment that allows workers to operate safely, we developed facilities that combine our power plant operation and maintenance expertise with the latest robotics technologies from SMEs. By building safer and more efficient power plant infrastructure while expanding robotics companies’ entry into the power generation market, we are realizing the ESG values of shared growth.”




Source: 전기신문(https://www.electimes.com/news/articleView.html?idxno=328609)
 

 
LPTech Co., Ltd. Company Name : LPTech Co., Ltd. ㅣ Business Registration Number : 102-81-46636 ㅣ CEO : Hyungsoon Park
Head Office : (15055) Room 407, Siheung Startup Center, 376 Mayu-ro, Siheung-si, Gyeonggi-do, South Korea
Bucheon Branch : (14623) Room 403-58, 4th Floo
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