[Edaily Reporter Shin Ha-yeon ] “By combining Lumia’s deep-tech capabilities with UNI CHEM.CO.,LTD’s proven manufacturing and sales execution, we have secured a strong competitive edge that enables us to rapidly commercialize innovative technologies and translate them into tangible results.”

Kim Han-ju UNI CHEM.CO.,LTD(011330), Chief Strategy Officer (CSO), explained the significance of the acquisition of U.S. flexible electronics company Lumia Technologies in a recent interview with E-Daily. UNI CHEM.CO.,LTD is currently in the process of acquiring 100% of Lumia’s shares and is handling the necessary foreign exchange-related administrative procedures following the signing of the definitive agreement. UNI CHEM.CO.,LTD, which has been processing premium materials for the automotive and fashion industries, plans to secure Lumia’s e-Skin technology to expand its business scope beyond automotive interior materials into the markets for humanoid robots and physical artificial intelligence (AI) materials.

CSO Kim has built a career spanning over 30 years in the global automotive parts industry, beginning with KIA CORPORATION in 1990. He has experience securing orders from North American automakers, establishing overseas production bases, and developing new businesses, and currently oversees new business and mergers and acquisitions (M&A) strategy at UNI CHEM.CO.,LTD. Following the acquisition of Lumia, he plans to lead the commercialization efforts as Co-CEO.

UNI CHEM.CO.,LTD first took notice of Lumia early this year. Since the change in its largest shareholder in 2023, the company has been pursuing a transformation into a “specialized digital materials platform company” based on its existing manufacturing capabilities. CSO Kim stated, “In January 2026, following the CEO’s directive, we reviewed the ‘E-Skin’ sector—a next-generation industrial material—and selected Loomia’s LEL (Loomia Electronic Layer) technology as the optimal target among numerous candidates.”

Loomia possesses flexible electronics technology capable of pressure sensing, heat generation, and touch control. Since thin, flexible electronic circuits can be applied to materials such as leather or fabric, their use can be expanded beyond automotive interior materials to include robot exoskeletons and tactile sensors. “One of the key bottlenecks in robot commercialization is tactile sensation—the ability to detect contact with and pressure from objects,” said CSO Kim. “We will secure a leading position in the market by combining Loomia’s technology with UNI CHEM.CO.,LTD’s materials and mass-production capabilities to create sensor-based robot exoskeletons—that is, electronic skin—that enable this functionality.”

UNI CHEM.CO.,LTD’s core competitive advantage lies in its mass production capabilities. During the acquisition negotiations, the company emphasized that it was the ideal partner to translate Lumia’s technological capabilities into mass production and global supply. CSO Kim said, “We focused on demonstrating that UNI CHEM.CO.,LTD is the ‘optimal scale-up partner’ capable of leading the commercialization of Lumia’s technology,” adding, “We have experience in the North American automotive industry, where we secured direct contracts with major global customers such as Stellantis, GM, and Ford and established a value chain.”

He continued, “We specifically highlighted this global sales network and UNI CHEM.CO.,LTD’s mass-production system, which has been proven over 50 years of working with global automakers,” noting, “Emphasizing that we are a mass-production partner capable of actually applying innovative technologies—currently at the laboratory stage—to robots and vehicles worldwide was the decisive factor in being selected as the preferred bidder.”

It took approximately 10 months from the initial contact to the signing of the definitive agreement. Even after being selected as the preferred bidder last March, work continued on designing the transaction structure and reconciling the interests of multiple shareholders. During the negotiation period, CSO Kim also visited potential domestic clients alongside Madison Maxi Lumia’s CEO while simultaneously pursuing new business opportunities. “Through this, we built mutual trust and shared a conviction in the success of the business, which became the key driving force in smoothly resolving complex issues,” CSO Kim recalled.

The transaction structure also underwent significant changes during the negotiation process. While a lump-sum sale valued at $20 million was initially discussed, the deal was ultimately restructured to go beyond a simple equity acquisition. It was finalized as a combination of $4 million in fixed cash, $2 million worth of UNI CHEM.CO.,LTD stock linked to future performance, and conditional convertible bonds (CBs), ensuring that the founders and key personnel could continue to exercise responsible management even after the acquisition.

Regarding this, CSO Kim noted, “We reached a final agreement tied to specific mass-production order achievements in the automotive and robotics sectors,” adding, “It is a structure in which Lumia’s management must remain with the company for at least three years and achieve substantial order targets to receive full compensation.”

Meanwhile, regarding the recent delay in the payment schedule for the acquisition, the company explained that it was not due to issues with the business itself but rather an adjustment resulting from administrative procedures related to foreign exchange. CSO Kim stated, “Given the nature of cross-border M&A, we must fully comply with the administrative procedures required under the Foreign Exchange Transactions Act even after the signing of the main contract,” adding “Ahead of this payment transfer, we encountered a prerequisite procedure requiring us to finalize the administrative records related to the liquidation of a past North American business we pursued over a decade ago—in accordance with current regulatory standards—and to obtain supplementary review and approval from the foreign exchange authorities.”

He went on to emphasize, “This is merely a temporary delay in administrative procedures to resolve outstanding administrative matters from the past and ensure the transaction’s full legal compliance; it is completely unrelated to the fundamentals of this merger or the strong trust between the two companies.”

The target date for closing the transaction is January 2027. As soon as the authorities’ supplementary approval is finalized, the company plans to promptly execute the first payment and thoroughly carry out the remaining procedures to ensure the final closing of the transaction is completed without a hitch by January 2027.

Once the transaction is finalized, UNI CHEM.CO.,LTD plans to expand its business scope beyond automobiles and robots to encompass the entire physical AI value chain. The vision is to combine UNI CHEM.CO.,LTD’s high-quality leather materials with Lumia’s sensor technology to create an “electronic skin” that enables robots to recognize touch and pressure, and to connect this tactile data to robot platforms.

CSO Kim stated, “When UNI CHEM.CO.,LTD’s high-quality leather materials are fused with Lumia’s sensor technology, robots will be able to perceive touch like humans and precisely control pressure.” He added, “Based on my experience planning mid- to long-term strategies for new growth areas such as robotics and UAM during my time at an automotive parts company, we are preparing to secure a leading position in the value chain of the upcoming Physical AI era.”

The company is currently establishing strategic partnerships with specialized mass-production contractors, data foundries for tactile data collection, and robotic arm platform companies. CSO Kim added, “We will focus our capabilities on leading the partnership ecosystem and practicing responsible management to ensure that UNI CHEM.CO.,LTD and Lumia firmly establish themselves as leading companies in the global deep-tech materials industry.”