[E-Daily Reporter Kim Hyung-il ] SamsungSecurities analyzed that HyundaiMobis(012330)is expanding its business centered on the system-on-chip (SoC) ecosystem—comprising system semiconductors, control software, and evaluation systems—as well as robot actuators.

On the 17th, Lim Eun-young, an analyst at SamsungSecurities, stated, “While the 2024 Tech Day emphasized electrification systems, this year’s Tech Day highlighted the SoC ecosystem—comprising system semiconductors, control software, and evaluation systems—as well as robotic actuators.”

HyundaiMobis’ research and development (R&D) workforce increased from 5,911 in 2021 to 7,858 in 2026, and R&D expenses rose from 1.37 trillion won in 2022 to 1.9 trillion won in 2026. Between 60% and 70% of R&D expenditures are allocated to electronic systems.

HyundaiMobis supplies cameras, radars, ultrasonic sensors, and body control modules to HyundaiMotor and KIA CORPORATION, and is currently developing and testing Level 2+ ADAS controllers. The company is already integrating communication semiconductors and plans to begin integrating power semiconductors starting next year.

Researcher Lim stated, “As the SDV transition progresses and semiconductor prices rise, HyundaiMotor and KIA CORPORATION are expected to accelerate their adoption of HyundaiMobis products.”

Revenue from automotive electronics systems has been growing by more than 10% since 2024 and has achieved high single-digit profitability since 2025. In the first half of this year, revenue from automotive electronics systems reached approximately 520 billion won, a 12% increase year-over-year, accounting for 21% of total module division revenue.

An expanded role is also anticipated in the robotics hardware business. HyundaiMobis is responsible not only for the 31 actuators in Atlas but also for the controller in the head section and the gripper.

Researcher Lim explained, “We expect to account for 60% of Atlas’s hardware costs,” adding, “Boston Dynamics handles the design, while HyundaiMobis is responsible for mass production technology, cost reduction, and the value chain.” He further projected, “The robot actuator business could turn a profit before 2030.”

Competition with Chinese companies was cited as a cause for concern. This is because Chinese companies have a rapid product generation cycle of six months, and the Chinese government is actively fostering the related industry. However, Researcher Lim assessed that the quality level of the actuators and grippers observed at the WRC was mostly intended for exhibition rather than mass production.

Researcher Lim stated, “While HyundaiMobis’ products have all been latecomers to the market so far, the company has the potential to become a global leader in robot hardware,” and diagnosed that “the bottleneck in robot commercialization lies in AI models rather than hardware.”