According to financial and industry sources on Sunday, Chung and other shareholders of Boston Dynamics are pursuing a plan to acquire the 9.65 percent stake held by SoftBank after the Japanese technology conglomerate exercised its put option. The shares are expected to be purchased by existing shareholders in proportion to their current ownership stakes.
Boston Dynamics is currently owned by the automaker's investment entity HMG Global, which holds a 56.4 percent stake, followed by Chung with 22.6 percent, Hyundai Glovis with 11.25 percent and SoftBank with 9.65 percent.
Once the acquisition is complete, Boston Dynamics' ownership structure is expected to be reshaped, with HMG Global holding 62.5 percent, Chung 25 percent and Hyundai Glovis 12.5 percent.
The acquisition price for SoftBank's stake is estimated at around $320 million. HMG Global is expected to bear about $200 million, while Chung would cover approximately $80 million and Hyundai Glovis about $40 million.
Chung previously invested 238.9 billion won of his personal wealth when Hyundai Motor Group acquired a controlling stake in Boston Dynamics in 2021. Including subsequent capital injections and the latest investment, his total personal investment in the robotics company is estimated to reach around 800 billion won.
Chung's increased stake to 25 percent is expected to accelerate the group's push into physical AI, a field focused on integrating AI with robots capable of interacting with and operating in the real world.
The automaker has been developing Boston Dynamics' next-generation humanoid robot Atlas as a key technology platform. The group plans to test Atlas at its manufacturing facility in Georgia before deploying the robot for parts-sorting operations in 2028 and gradually expanding its use to assembly lines from 2030.
Industry observers expect the simplified ownership structure to make it easier for Boston Dynamics to prepare for an eventual initial public offering (IPO), as the auto giant has reportedly been considering various listing options for its robotics unit including a possible Nasdaq debut in the U.S.
The latest move reflects Chung's long-term commitment to robotics as he seeks to diversify Hyundai Motor Group beyond traditional automotive manufacturing, positioning it as a leader in future mobility and AI-driven technologies.
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