Semiconductor wafer transfer equipment maker Cymechs will receive funding from the Ministry of Trade, Industry and Energy to develop new wafer transfer robots used in chip production lines, the company said on Wednesday.
The company will be eligible to get up to 8 billion won in funding for the next five years to develop the robots.
A total of 12.4 billion won will be spent on the project and Cymechs will secure the remaining 4.4 billion won from other private entities that are planning to take part.
Up to now, South Korean semiconductor companies relied on imported transfer robots for over 90% of those used in their production lines.
Cymechs will co-develop them with precision motor maker Komotek and Korea Aerospace University. The developed robot will be tested by an unnamed semiconductor maker based in South Korea, the company said.
Cymechs CEO Eom Ju-yong said the company aims to secure around 100 billion won in sales from its robot business by 2025.
The company posted 15.3 billion won in operating profits and 95.8 billion won in sales in the first half of 2020, a return to profit and a rise of 197.8%, respectively, from the same time period a year ago.