Laon People, a specialized artificial intelligence (AI) company, reached its upper trading limit after being selected for a national project in the field of 'Physical AI.'
As of 11:17 a.m. on September 3, Laon People shares were trading at 3,220 won, up 740 won (29.84%) from the previous trading day, according to the Korea Exchange.
The surge in stock price is attributed to Laon People's selection for a major national project in the Physical AI sector, which is being promoted by the Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA).
Laon People announced that it has been chosen as the executing organization for the project titled 'Establishment of a Collaborative Intelligence Physical AI-based Software Platform Research and Development Ecosystem,' specifically focusing on the 'Research and Development of an Unmanned Factory Operation - Physical AI Software-Defined Factory (SDF) Specialized Model.'
This project will be led by Jeonbuk National University and involves a consortium of 15 industry, academia, and research institutions, including Laon People and NC AI. It is the largest national project in the Physical AI sector in South Korea, with a total budget of 70.2 billion won over five years, set to be completed by 2030.
The goal of the project is to develop a 'Physical AI Foundation Model' for operating factories autonomously. Laon People will be responsible for implementing and demonstrating AI technologies for anomaly detection, predictive maintenance, and process optimization, which can be applied in automotive parts and robotics factories.
As of 11:17 a.m. on September 3, Laon People shares were trading at 3,220 won, up 740 won (29.84%) from the previous trading day, according to the Korea Exchange.
The surge in stock price is attributed to Laon People's selection for a major national project in the Physical AI sector, which is being promoted by the Ministry of Science and ICT and the National IT Industry Promotion Agency (NIPA).
Laon People announced that it has been chosen as the executing organization for the project titled 'Establishment of a Collaborative Intelligence Physical AI-based Software Platform Research and Development Ecosystem,' specifically focusing on the 'Research and Development of an Unmanned Factory Operation - Physical AI Software-Defined Factory (SDF) Specialized Model.'
This project will be led by Jeonbuk National University and involves a consortium of 15 industry, academia, and research institutions, including Laon People and NC AI. It is the largest national project in the Physical AI sector in South Korea, with a total budget of 70.2 billion won over five years, set to be completed by 2030.
The goal of the project is to develop a 'Physical AI Foundation Model' for operating factories autonomously. Laon People will be responsible for implementing and demonstrating AI technologies for anomaly detection, predictive maintenance, and process optimization, which can be applied in automotive parts and robotics factories.
* This article has been translated by AI.
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