Samsung Electronics is growing its influence in South Korea and the tech industry. The company announced that it had achieved the status of the largest shareholder in Rainbow Robotics, a South Korean robotics manufacturer.

Samsung Electronics said on Tuesday that it has become the largest shareholder of South Korea-based robotics maker Rainbow Robotics, increasing its stake

Samsung partners with Rainbow Robotics, in a bid to revolutionize humanoid robots with AI, robotics tech, and global expansion strategies.

Rainbow Robotics was founded in 2011 by a team from South Korea’s KAIST. The team developed the country’s first two-legged walking robot in 2005.

While there are no official figures in Samsung’s statement, a Reuters report claims that they invested KRW 267 billion—about $181 million—to become the largest shareholder in Rainbow Robotics.

He will provide expertise in robotics technology and business for Samsung's future robot development. "Samsung Electronics to increase stake in Rainbow Robotics to 35% " was origi

Samsung Electronics Co. Ltd. announced today that it will become the largest shareholder in Rainbow Robotics Inc., a South Korean robot maker, by increasing its stake in the company to 35% by spending more than 267 billion won, or about $181 billion.

Samsung is strengthening its commitment to robot development and investing in its stake in robotics company Rainbow Robotics.

Samsung Electronics has decided to become the largest shareholder in Rainbow Robotics to“accelerate future robot development such as humanoid robots”.

Samsung Electronics became the largest shareholder of South Korea's Rainbow Robotics , the robotics company said in a regulatory filing on Tuesday.