UL Solutions opens first commercial robot testing lab in South Korea

NORTHBROOK, Ill. - UL Solutions Inc. (NYSE:ULS), a $13.48 billion market cap company with impressive gross profit margins of 48.5%, announced Monday the opening of its first commercial and service robot testing laboratory in Uiwang, South Korea, approximately 39 kilometers south of Seoul. According to InvestingPro data, the company maintains a strong financial health score, positioning it well for this expansion.

The new facility will focus on testing robots designed for homes, retail shops, restaurants, schools and public spaces, with particular emphasis on human-robot interaction safety. The laboratory will test for compliance with UL 3300, the Standard for Safety for Service, Communication, Information, Education and Entertainment Robots.

"As robotics adoption accelerates, our new robot laboratory will play a critical role in identifying and addressing pressing safety concerns," said Yun Chung, regional managing director at UL Solutions in South Korea, according to a company press release.

The testing center aims to address safety concerns including mobility, fire and shock hazards, external manipulation, and interaction with vulnerable persons. UL 3300 requires robots to have speed limits, object detection capabilities, and audible and visual indicators to signal their presence.

The laboratory’s opening coincides with significant growth in the global service robotics market. According to the World Robotics 2024 Service Robots report cited in the announcement, sales of professional service robots increased by 30% worldwide, with nearly 80% of units (162,284) sold in the Asia-Pacific region.

UL Solutions positioned the new facility in Gyeonggi Province to be within reach of several leading manufacturers in what it described as a vibrant robotics ecosystem.

In other recent news, UL Solutions reported its second-quarter 2025 earnings, with adjusted earnings per share (EPS) of $0.52, surpassing the forecasted $0.46 by 13.04%. The company achieved a revenue of $776 million, marking a 6.3% increase compared to the previous year. Despite these positive financial results, the company’s stock experienced a decline due to broader market concerns. Additionally, UL Solutions announced a quarterly dividend of $0.13 per share, payable on September 8 to shareholders of record as of August 29.

The company also made significant changes to its executive leadership team, with Alex Dadakis stepping into the role of President of Testing, Inspection, and Certification, and Weifang Zhou transitioning to Special Advisor to the CEO. JPMorgan raised its price target for UL Solutions to $70, maintaining an Overweight rating, citing a positive long-term growth outlook. Stifel reiterated its Buy rating and $77 price target, viewing the recent stock pullback as a buying opportunity. These developments highlight UL Solutions’ ongoing strategic adjustments and analyst confidence in its future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.